The S&P/ASX 200 index has failed to follow the lead of U.S. markets and is tumbling lower on Monday. At the time of writing the benchmark index is down over 0.5% to 6,757.5 points.
Four shares that have not let that hold them back are listed below. Here's why they are starting the week on a high:
The Appen Ltd (ASX: APX) share price has rocketed 11.5% higher to $25.98 after upgrading its profit guidance for FY 2019. Appen had previously guided to underlying EBITDA in the range of $85 million to $90 million this year. However, thanks to stronger than expected demand, it now expects full year underlying EBITDA to be in the range of $96 million to $99 million. This will be a year on year increase of 34.6% to 38.8%.
The Adairs Ltd (ASX: ADH) share price is up over 2% to $1.83. This morning the homewares retailer released a presentation ahead of its appearance at the UBS conference. It once again reaffirmed its guidance for FY 2020 and is expecting sales of $360 million to $375 million and EBIT of $43 million to $46 million.
The Coca-Cola Amatil Ltd (ASX: CCL) share price has climbed over 4% higher to $11.37. The catalyst for this gain appears to have been a broker note out of the Macquarie equities desk. According to the note, the broker upgraded its shares to a neutral rating and lifted its price target to $11.20. It was pleased to see management reiterate its guidance for FY 2020.
The Qantas Airways Limited (ASX: QAN) share price has risen 3% to $6.98. This solid gain also appears to have been driven by another positive broker note out of Macquarie. According to a note, its analysts have upgraded the airline operator's shares to an outperform rating and lifted the price target on them to $7.90. It believes Qantas is cheap in comparison to its global peers.
