The S&P/ASX 200 index has given back the majority of its morning gains and is up just a few points to 6,310.7 in afternoon trade.
Four shares climbing more than most today are listed below. Here's why they are racing higher:
The Dicker Data Ltd (ASX: DDR) share price has continued its solid run and is up a further 4% to $4.74. Investors have been fighting to get hold of the company's shares this week following the release of its first quarter results. Dicker Data has had a strong start to FY 2019, achieving total revenue growth of 21.1% to $386.9 million and profit before tax growth of 46.7% to $13.5 million. This was driven by the strong performance of all its vendor partnerships.
The LiveHire Ltd (ASX: LVH) share price is up 5% to 49 cents. This gain appears to be a delayed reaction to the company's positive announcement on Wednesday. That announcement revealed that its Talent Community Connections1 (TCC) have surpassed the critical mass of 1 million. LiveHire's platform has also recently expanded into the US with its first series of channel partner led implementations. Management advised that it expects TCC ecosystem growth in the US to quickly surpass Australia.
The Pushpay Holdings Ltd (ASX: PPH) share price is up over 4% to $3.75. Today's gain appears to have been driven by a positive broker note out of Deutsche Bank this morning. According to the note, the broker was pleased with its performance in FY 2019, though it was disappointed to see its CEO resign. However, it believes the company has significant operating leverage and has lifted its earnings forecasts and price target materially.
The TPG Telecom Ltd (ASX: TPM) share price has climbed 4% to $6.29. As with Pushpay, a broker note appears to have been the catalyst for this solid gain. A note out of Ord Minnett reveals that its analysts have upgraded the telco company's shares to an accumulate rating from hold with an improved price target of $6.90. Ord Minnett appears to believe the company has a good chance of overturning the ACCC's merger decision in court.
