In afternoon trade the S&P/ASX 200 index has fought back from its lows but is still trading lower. At the time of writing the benchmark index is down 0.2% to 6,496.3 points.
Four shares that haven’t let that hold them back are listed below. Here’s why they have climbed higher:
The Aristocrat Leisure Limited (ASX: ALL) share price has surged 7% higher to $28.36 following the release of the gaming technology company’s half year result. In the first half of FY 2019, Aristocrat Leisure achieved operating revenue of $2,150.3 million and normalised EBITA of $644.4 million. This was an increase of 29.8% and 16.8%, respectively, on the prior corresponding period and came in ahead of Goldman Sachs’ estimate of revenue of $2.1 billion and EBITA of $617 million.
The Codan Limited (ASX: CDA) share price has charged 4% higher to $3.32 after the electronic products manufacturer provided a trading update. According to the release, thanks partly to strong metal detector sales and a number of significant contract wins for the Communications business, sales have continued to exceed expectations in the second half. In light of this, management expects its underlying net profit after tax to be in the range of $42 million to $45 million.
The Infigen Energy Ltd (ASX: IFN) share price has risen 9% to 46.8 cents after the renewable energy company announced the acquisition of the 109MW flexible, fast-start Smithfield Open Cycle Gas Turbine in Western Sydney. Infigen will pay $60 million in cash for the asset and expects it to facilitate a substantial increase in contracting into higher priced, longer tenor and more stable markets, delivering higher quality of earnings.
The Super Retail Group Ltd (ASX: SUL) share price is up over 2% to $9.11 after being the subject of a positive broker note out of Morgan Stanley. According to the note, the broker has upgraded the retailer’s shares to an overweight rating and lifted the price target on them to $10.00. Its analysts believe the market has undervalued its automotive business.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of Super Retail Group Limited. 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.