Why Alliance Aviation Services, Appen, Gage Road, & Healthscope shares stormed higher today

The Appen Ltd (ASX:APX) share price and the Healthscope Ltd (ASX:HSO) share price are two of four ending the week with a bang. Here’s why they stormed higher…

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and in afternoon trade is down slightly at 5,862.3 points.

Four shares that have not let that hold them back today are listed below. Here’s why they are ending the week with a bang:

The Alliance Aviation Services Ltd (ASX: AQZ) share price has zoomed 9% higher to $2.51 after the aviation services company confirmed that Qantas Airways Limited (ASX: QAN) has bought a 19.99% stake in the company for $60 million. Qantas advised that it “expects to ultimately seek regulatory approval from the ACCC to build on its current shareholding, with a longer-term view of taking a majority position in Alliance Airlines in order to better serve the charter market by unlocking synergies.”

The Appen Ltd (ASX: APX) share price has pushed a further 2.5% higher to $16.37. A number of Australian tech shares are posting solid gains today after the technology-focused Nasdaq index climbed higher overnight on Wall Street. Thanks to a gain of almost 12% by the Facebook share price the Nasdaq finished the session 1.4% higher.

The Gage Roads Brewing Co Limited (ASX: GRB) share price has jumped 9% to 10 cents after the brewing company released its second quarter update. During the second quarter the company experienced solid sales growth across the business. This ultimately led to first half unaudited EBITDA rising 59% on the prior corresponding period to $2.1 million. Management also advised that the first year of the Optus Stadium contract saw over 1 million litres sold at the stadium.

The Healthscope Ltd (ASX: HSO) share price has climbed 3.5% to $2.44 after the private hospital operator revealed that it has entered into an implementation deed with Brookfield Business Partners. Brookfield has offered to acquire all Healthscope shares it does not own for $2.50 per share. The Healthscope board has unanimously recommended the Brookfield transaction in the absence of a superior proposal and subject to an independent expert concluding that the scheme of arrangement is fair, reasonable, and in the best interests of shareholders.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Appen Ltd. 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.

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