The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to finish the week on a positive note. In afternoon trade the benchmark index is up 0.4% to 6,164.9 points.
Four shares that have climbed more than most today are listed below. Here’s why they are ending the week on a high:
The BWX Ltd (ASX: BWX) share price has rocketed 26% higher to $2.03 following the release of the personal care products company’s half year results. Although the company behind the Sukin skincare brand had a disastrous half, investors appear to be pleased with management’s guidance for the second half. Full year underlying EBITDA is expected to be in the range of $27 million to $29 million, compared to $7.1 million in the first half.
The InvoCare Limited (ASX: IVC) share price is up 9% to $13.69 following the release of the funeral company’s full year results. In FY 2018 InvoCare posted a disappointing 22.1% decline in operating earnings after tax, leading to the board slashing its final dividend. However, the market appears pleased with management’s outlook for FY 2019. According to the release, improved trading in the fourth quarter and in January is “pointing towards the market normalising.”
The Netcomm Wireless Ltd (ASX: NTC) share price has rocketed 48% higher to $1.05 after the broadband equipment company revealed that NASDAQ-listed Casa Systems has offered to pay $1.10 cash per share for 100% ownership in Netcomm. This represented a 55% premium to yesterday’s closing price, but 31% lower than its 52-week high. Despite the latter, the Netcomm board is supporting the offer.
The Vita Group Limited (ASX: VTG) share price has jumped over 8% to $1.49 following the release of the retailer’s half year results. For the six months to December 31, Vita delivered record revenues of $377 million and earnings before interest, tax, depreciation and amortisation of $25 million. This was a 14% and 25% increase, respectively, on the prior corresponding period.
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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 and has recommended BWX Limited. The Motley Fool Australia has recommended InvoCare Limited. 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.