The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to build on yesterday's gain and finish the month on a high. In afternoon trade the benchmark index is up 0.1% to 5,894 points.
Four shares that have climbed more than most today are listed below. Here's why they have pushed higher:
The Beach Energy Ltd (ASX: BPT) share price is up a solid 6% to $1.81 following the release of the energy producer's second quarter update. A strong production performance during the quarter led to management increasing its full year production guidance from between 25 and 27 MMboe to the range of 28 to 29 MMboe. It also narrowed its capital expenditure guidance for FY 2019.
The Bubs Australia Ltd (ASX: BUB) share price has zoomed 11.5% higher to 48 cents after the goats milk infant formula producer released its quarterly update. Investors appear to have been impressed to see Bubs achieve gross revenue growth of 499% year-on-year and 35% on the previous quarter to $12.1 million. The company's infant formula range was its biggest seller with a 279% increase in sales compared to the prior corresponding period and a 107% lift on sales during the last quarter.
The Freelancer Ltd (ASX: FLN) share price has jumped 8% higher to 69 cents following the release of the freelancing and crowdsourcing marketplace operator's quarterly update. In the fourth quarter Freelancer delivered all-time record cash receipts of $13.3 million, up 8% on the prior corresponding period. Management also advised that its Freelancer segment recorded all-time record Gross Marketplace Volume of $33 million during the period.
The Xero Limited (ASX: XRO) share price is up 7.5% to $42.93 despite there being no news out of the business and accounting software provider. A number of shares in the information technology sector are storming higher today following a strong rise by the Nasdaq index overnight and Facebook's impressive results release.
