The S&P/ASX 200 index has continued its solid run on Wednesday and is trading notably higher again. In afternoon trade the benchmark index is up a further 0.65% to 6,283.4 points.
Four shares that have climbed more than most today are listed below. Here's why they have raced higher:
The Appen Ltd (ASX: APX) share price has pushed 5% higher to $23.92 after the language technology data and services provider announced the completion of the US$175 million acquisition of Figure Eight Technologies. The best in class machine learning software platform provider is expected to materially increase the quality of Appen's revenues and the breadth of its customer base.
The Freedom Foods Group Ltd (ASX: FNP) share price has climbed over 2% to $4.79 after the diversified food company provided an update on its Nutritionals business. According to the release, the company has completed a key commissioning step in relation to Lactoferrin production at its new Nutritionals capability at Shepparton. Combined with other developments, management expects the Nutritionals segment to deliver a material earnings contribution in FY 2020.
The Jumbo Interactive Ltd (ASX: JIN) share price has continued its run and is up a further 7% to $16.12. Investors have been fighting to get hold of the lottery ticket seller's shares this week after analysts at Morgan Stanley initiated coverage on Jumbo with an overweight rating and a $20.00 price target. Its analysts believe the company is well-positioned for growth and has forecast growth of ~63% per annum between FY 2018 and FY 2021.
The Wattle Health Australia Ltd (ASX: WHA) share price has risen 4% to 78.5 cents. This morning the infant formula and baby food company released its Credit Suisse Dairy Day presentation which highlighted key developments over the last six months and the massive market opportunity the company has in China. Though, the company still needs to gain the SAMR accreditation required to sell its products in the market.
