In afternoon trade the S&P/ASX 200 index is on course to finish the week on a positive note. At the time of writing the index is 0.6% higher at 6,756.8 points.
Four shares that have climbed more than most today are listed below. Here's why they are ending the week on a high:
The Clover Corporation Limited (ASX: CLV) share price has raced 13% higher to $2.56. This morning the provider of ingredients for infant formula and nutrition products released its full year results and reported a 21.8% increase in revenue to $76.7 million and a 33.1% lift in net profit after tax to $10.1 million.
The IOOF Holdings Limited (ASX: IFL) share price has surged 6.5% higher to $5.91 after the Federal Court of Australia came to a decision in relation to proceedings brought by APRA against it. According to the release, the Federal Court held that IOOF's APRA regulated entities and five individuals did not contravene the Superannuation Industry Act. The Court also declined to make the disqualification orders sought against the five individuals and awarded costs in IOOF's favour.
The Premier Investments Limited (ASX: PMV) share price has rocketed 20% higher to $18.93 after the release of its full year results. This morning the retail conglomerate revealed a 7.5% increase in total global sales to a record of $1.27 billion and a 27.7% lift in reported net profit after tax to $106.8 million. This was driven by strong growth across a number of its brands and its online business.
The Redbubble Ltd (ASX: RBL) share price is up 8% to $1.43 after the ecommerce company was the subject of a positive broker note out of Goldman Sachs. According to the note, the broker has upgraded Redbubble's shares to a buy rating with a $1.65 price target after its research showed that recent product launches had gone down well with users of its site.
