It has been a very positive end to the week for the S&P/ASX 200 index. In afternoon trade the benchmark index is up a solid 0.65% to 6,737 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 Paradigm Biopharmaceuticals Ltd (ASX: PAR) share price is up 6% to $2.83. This morning the biopharmaceutical company revealed that if it receives provisional approval from the Therapeutic Goods Administration, it could be generating revenue as early as the third quarter of calendar year 2020. Furthermore, it advised that it expects to meet the US FDA over its investigational new drug application before the end of the year.
The Resolute Mining Limited (ASX: RSG) share price has stormed 10.5% higher to $1.32 after providing an update on its Syama Gold Mine. Two weeks ago, Resolute took its roaster offline after detecting a crack in the main external shell. Although it will be offline for a further six weeks, management expects to offset the loss of production through other operations. As a result, it is holding firm with its production guidance of 400,000 ounces.
The ResMed Inc. (ASX: RMD) share price has surged 9.5% higher to $20.35. Investors have been fighting to get hold of its shares after ResMed smashed expectations with its first quarter result. The sleep treatment specialist reported a 17% jump in sales to US$681.1 million and a 16% lift in adjusted net profit to US$135.4 million. This compares to the consensus sales estimate of US$660.87 million.
The Serko Ltd (ASX: SKO) share price has rocketed almost 40% higher to $4.12. This morning the online travel booking and expense management company’s shares returned from their trading halt after completing a capital raising. One of the cornerstone investors was travel giant Booking Holdings. The two parties will now expanded their existing agreement so that Booking.com can offer and promote Serko Zeno to its business traveller customers. It will also enable the integration of new Booking.com content onto Serko Zeno.
These 3 stocks could be the next big movers in 2020
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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 Serko Ltd. The Motley Fool Australia has recommended ResMed Inc. and Serko Ltd. 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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