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Why Audinate, Santos, Volpara, & WiseTech Global shares zoomed higher today

It has been another positive day of trade for the S&P/ASX 200 index. In afternoon trade it is on course to make it three consecutive days of gains and is up 0.5% to 6,392.5 points.

Four shares climbing more than most today are listed below. Here’s why they have zoomed higher:

The Audinate Group Ltd (ASX: AD8) share price is up 4% to $7.74 after returning from its trading halt. The shares of the leading supplier of digital audio networking solutions were placed in a trading halt on Wednesday whilst it undertook a capital raising. This morning the company announced that it has successfully raised $20 million through a placement to professional and sophisticated investors at $7.00 per share. It intends to use the proceeds to expand its global sales penetration, accelerate recent product initiatives, and develop its next generation Dante platform.

The Santos Ltd (ASX: STO) share price has climbed 2.5% to $6.82 after it announced that activities at the Dorado-2 appraisal well appear to confirm a major oil and gas resource. Management advised that the result “indicates the Dorado discovery is larger than anticipated” and “significantly de-risks a future development.”

The Volpara Health Technologies Ltd (ASX: VHT) share price has zoomed almost 11% higher to $1.86 a day after completing its capital raising. On Wednesday the medical technology company successfully completed its institutional placement. The oversubscribed placement raised $45 million and the institutional component of the entitlement offer raised the maximum amount of $5 million, both at $1.50 per share. The proceeds will be used to acquire US-based MRS Systems and fund further organic growth.

The WiseTech Global Ltd (ASX: WTC) share price has charged 6% higher to $26.30 after the logistics solution company reaffirmed its revenue and earnings growth guidance at an investor conference. According to the conference presentation, management continues to expect FY 2019 revenue in the range of $326 million to $339 million and EBITDA in the range of $100 million to $105 million. This will be year on year revenue growth of 47% to 53% and EBITDA growth of 28% to 35%.

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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 WiseTech Global. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO and 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.

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