The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from its disappointing decline on Tuesday and is up 0.3% to 6,147.1 points at lunch on Wednesday.
Here's what has been happening on the benchmark index today:
SEEK shares race higher.
The SEEK Limited (ASX: SEK) share price has raced higher on Wednesday and is up 6% at lunch following the release of a better than expected first half result. SEEK posted half year revenue growth of 21% to $757.2 million and EBITDA growth of 6% to $238.5 million. A note out of Goldman Sachs reveals that it was expecting EBITDA of $225 million.
Costa provides positive outlook.
The Costa Group Holdings Ltd (ASX: CGC) share price has pushed 4.5% higher after the release of its results for the six months ended December 30. Although Costa posted a sharp decline in profits compared to the prior corresponding period, investors appear pleased that trading conditions have improved since its last update. Management confirmed calendar year 2019 guidance for 30% profit growth.
Bellamy's disappoints.
After a terrible start to the day the Bellamy's Australia Ltd (ASX: BAL) share price has recovered and is down 3% at lunch. The infant formula company's shares fell as much as 10% after it downgraded its full year guidance following a weak first half performance.
Reliance Worldwide share sale.
The Reliance Worldwide Corporation Ltd (ASX: RWC) share price has come under pressure after chairman Jonathan Munz announced his intention to retire from the board and sold his remaining holding in the company via a $367 million block trade. The trade was made at $4.65 per share.
Best and worst performers.
The best performer on the ASX 200 at lunch is the SEEK share price, closely followed by the Vocus Group Ltd (ASX: VOC) share price which is 6% higher following the release of its half year results. The worst performer on the index is the Reliance Worldwide share price which is down 6%, followed by the NEXTDC Ltd (ASX: NXT) share price which is off 3% at lunch after the release of its half year results.
