In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has built on yesterday’s gain and is up a further 0.5% to 5,712.7 points.
Four shares that have climbed more than most today are listed below. Here’s why they are surging higher:
The Bingo Industries Ltd (ASX: BIN) share price has climbed 5% to $1.93 after the waste management company announced that it will divest its waste processing facility in Banksmeadow in order to address an ACCC preliminary concern in relation to the company’s proposed acquisition of Dial A Dump Industries. Management is optimistic that this will lead to the competition watchdog approving the acquisition in February.
The Brainchip Holdings Ltd (ASX: BRN) share price has surged 8% higher to 9.6 cents after the developer of software and hardware accelerated solutions for advanced artificial intelligence (AI) and machine learning applications announced the signing of a strategic partnership agreement with SoftCryptum. The agreement will see SoftCryptum sell BrainChip’s AI-powered video analytics solutions to government agencies in France, Belgium, and Switzerland.
The Hub24 Ltd (ASX: HUB) share price is up 6% to $12.38 after the investment and superannuation platform provider announced its funds under administration (FUA) for the December quarter. According to the release, FUAs have grown 20% since the end of FY 2018 to finish the December quarter at over $10 billion. This growth means that it has maintained its position as the fastest growing company in the industry in percentage terms relative to its size.
The Wattle Health Australia Ltd (ASX: WHA) share price has jumped 6.5% to 97.5 cents. This morning the infant formula-focused health and wellness products company announced that its Blend and Pack business has successfully renewed its Certification and Accreditation Administration of the Peoples Republic of China (CNCA) for the manufacture of infant formula. This renewal has given the Wattle Health board the confidence to move forward with its China plans.
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.