The S&P/ASX 200 Index has bounced back from a weak start and is trading higher in afternoon trade. At the time of writing the index is up 0.1% to 6,227.4 points.
Four shares that have climbed more than most today are listed below. Here's why they have charged higher:
The Audio Pixels Holdings Ltd (ASX: AKP) share price has jumped 10% to $19.50 after the digital speaker developer advised that the refinement of the fabrication processes is in its final stages. In addition to this, the company explained that the required structural and process design changes to transition the simplified structure into a viable and attractive stand-alone or accompanying product has been introduced for fabrication to the vendor.
The Crown Resorts Ltd (ASX: CWN) share price has rocketed over 20% higher to $14.15 after the casino and resorts operator confirmed that it has received a A$14.75 per share preliminary, confidential, non-binding and indicative takeover proposal from U.S. giant Wynn Resorts. The Crown board advised that it has not yet considered the proposal and warned that there was no guarantee that deal would be reached.
The LiveTiles Ltd (ASX: LVT) share price has pushed 8.5% higher to 56.5 cents despite there being no news out of the digital workplace platform provider. However, last week the company revealed that the Federal Government has selected LiveTiles to be the first intelligent workplace software provider to its Digital Transformation Agency Panel.
The Santos Ltd (ASX: STO) share price has pushed over 3% higher to $7.04. Today's gain appears to have been driven by a combination of rising oil prices and the successful completion of the Moomba South Patchawarra Formation phase 1 appraisal program in the Cooper Basin. Overnight oil prices climbed to five-month highs due to expectations for tighter global supply because of clashes in Libya, OPEC-led cuts, and U.S. sanctions against Iran and Venezuela.
