In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week with a day in the red. At the time of writing the benchmark index is down 0.45% to 6,065.6 points.
Four shares that have not let that hold them back are listed below. Here’s why they are ending the week on a high:
The Catapult Group International Ltd (ASX: CAT) share price has rebounded 5% to 63.5 cents. The sports analytics and wearables company’s shares were crushed on Thursday when it announced the surprise resignation of its CEO after less than two years in the top job. It appears that some investors believe its shares fell too far and created a buying opportunity.
The Mortgage Choice Limited (ASX: MOC) share price is up 3.5% to 85 cents. As with Catapult, the Mortgage Choice share price has been smashed this week. The catalyst for its sharp decline was the Royal Commission final report recommending huge changes to mortgage broker commissions. Some investors appear to believe that its shares are now good value even after factoring in the sweeping changes.
The News Corp (ASX: NWS) share price has climbed 2.5% to $18.77 following the release of its second quarter results. News Corp posted a 21% increase in revenue on the prior corresponding period. It also delivered net income of $119 million, compared to a $66 million loss in the previous corresponding period. Though it is worth noting that the prior corresponding period included a $174 million charge related to the enactment of the U.S. Tax Cuts and Jobs Act.
The Titomic Ltd (ASX: TTT) share price has surged 5% higher to $2.17. This morning the manufacturing company announced that it has executed an exclusive license agreement with CSIRO and an acquisition agreement with Future Titanium Technologies. In respect to the former, the agreement with CSIRO grants Titomic exclusive global rights to two patents which will open significant revenue opportunities for it across a number of major industries.
Where to invest $1,000 right now
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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Catapult Group International 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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