The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its heavy early decline and is down just 1 point to 5,466.6 points in late morning trade.
Four shares that have pushed notably higher today are listed below. Here’s why they have started the week with a bang:
The Audio Pixels Holdings Ltd (ASX: AKP) share price is up 4% to $19.80. On Friday the digital speaker developer’s shares stormed higher after announcing that it has achieved three major technological breakthroughs. Although management acknowledged that the development stage is not yet complete, it believes these breakthroughs demonstrate the progress the company has made towards delivering its “breakthrough technology” to the market at long last.
The MYOB Group Ltd (ASX: MYO) share price has rocketed 14% higher to $3.28 after announcing that its board would recommend the revised KKR takeover offer of $3.40 cash per share. As part of its agreement with KKR, the company has until February 22 to solicit competing proposals. It also secured a commitment from the private equity firm to sell its shareholding into, or vote in favour of, any qualifying superior proposal.
The OceanaGold Corp (ASX: OGC) share price has continued its solid run and climbed a further 4% to $4.58. At one stage today the gold miner’s shares touched on a 52-week high of $4.60. Investors have been fighting to get hold of its shares due to increasing demand for safe haven assets following recent market volatility.
The Superloop Ltd (ASX: SLC) share price is up 2.5% to $1.44 after the telecommunications infrastructure company announced that Australia’s first transcontinental submarine fibre optic cable, INDIGO Central has now achieved “Final Splice”. The term final splice refers to the point where the conclusion of subsea cable installation occurs creating a complete optical path from landing station to landing station and represents a major milestone in the cable’s installation. INDIGO Central connects Sydney with Singapore.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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.