In afternoon trade the benchmark S&P/ASX 200 index is on course to start the week in the red. At the time of writing the index is down 0.3% to 6,294 points.
Four shares that haven’t let that hold them back are listed below. Here’s why they have stormed higher:
The Fluence Corporation Ltd (ASX: FLC) share price has jumped 8% to 47.5 cents after the water services company announced a US$10 million contract for the design, engineering and construction of a 12,000 m3 /day seawater desalination plant for one of the world’s largest steel producers. The plant will be located at the customer’s steel production facility in eastern Brazil. Construction on this Custom Engineered Solution is anticipated to commence in Q2 2019 and is expected to be operational by Q4 2020.
The Galaxy Resources Limited (ASX: GXY) share price is 3% higher to $1.66 after the lithium miner provided an update on production at its Mt Cattlin operation. According to the release, Mt Cattlin delivered record monthly production of 21,901 dry metric tonnes and improved final product quality in April. In addition to this, Galaxy recorded a sharp reduction in cash costs. Cash costs per tonne of lithium concentrate produced came in at US$329/dmt compared to US$453/dmt in the first quarter of FY 2019.
The Lendlease Group (ASX: LLC) share price has jumped 8.5% to $13.81 following speculation that the international property and infrastructure group is a takeover target of a big Japanese company. According to the report, a major Japanese company, suspected to be Mitsui, is believed to be interested in buying the company and then breaking it up.
The Volpara Health Technologies Ltd (ASX: VHT) share price has risen 5% to $1.71 after the company revealed that the American Society of Breast Surgeons (ASBrS) has released its official position statement on screening mammography. ASBrS made favourable recommendations regarding how to assess breast cancer risk with breast density as an input and how to act upon such an assessment. The market appears to believe this could help boost VolparaDensity sales in the future.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of VOLPARA FPO NZ. The Motley Fool Australia has recommended VOLPARA FPO NZ. 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.