The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with another day in the red. In afternoon trade the benchmark index is down over 0.4% to 5,639.9 points.
Four shares that have defied the market and pushed higher today are listed below. Here’s why they are ending the week with a bang:
The Adairs Ltd (ASX: ADH) share price is up almost 5.5% to $1.97 on the day of its annual general meeting. This morning the retailer’s management reiterated its guidance of $345 million to $360 million for sales and $47.5 million to $51.5 million for earnings before interest and tax in FY 2019. At the high end of its guidance range it would mean year on year growth of 14.3% and 13.7% respectively. I think this makes Adairs a great option for investors.
The Altium Limited (ASX: ALU) share price has rebounded from yesterday’s heavy decline with a 3.5% push higher to $20.79. A good number of Australia’s leading tech shares are climbing higher today after their U.S. counterparts rose strongly overnight. News that its non-executive director, Wendy Stops, has been buying shares on-market today may have also gone down well with the market.
The Fortescue Metals Group Limited (ASX: FMG) share price is up 4.5% to $3.80. The iron ore producer’s shares were given a lift today by a broker note out of Credit Suisse. According to the note, the broker has held firm with its outperform rating and $5.50 price target following the release of its quarterly update.
The Vita Group Limited (ASX: VTG) share price has rocketed 18% higher to $1.03. This morning the retailer provided a trading update and its guidance for the first half. Following a strong start to the year it expects half-year EBITDA of around $23 million to $24.5 million. This represents a 15% to 23% increase on the prior corresponding period. EBIT is expected to be 15% to 24% higher at around $18 million to $19.4 million.
5 stocks under $5
We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.
And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!
*Extreme Opportunities returns as of June 5th 2020
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Altium. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
- 3 of the best ASX growth shares to buy for the 2020s – July 4, 2020 3:16pm
- 3 top ASX dividend shares I would buy next week – July 4, 2020 10:33am
- These were the best performing ASX 200 shares last week – July 4, 2020 10:02am