Why Data#3, Maca, Pact Group, & THC Global shares are storming higher

The Pact Group Holdings Ltd (ASX:PGH) share price and the THC Global Group Ltd (ASX:THC) share price are two of four storming higher on Tuesday…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 index has run out of steam on Tuesday and looks set to end its winning run. In afternoon trade the benchmark index is down 0.5% to 7,045.4 points.

Four shares that have not let that hold them back today are listed below. Here's why they are storming higher:

The Data#3 Limited (ASX: DTL) share price has jumped 7.5% to $4.34. This morning the technology solutions company provided an update on its expectations for the first half. Data#3 revealed that it expects to report consolidated net profit before tax (NPBT) at the top end of its guidance range of $11 million and $12.5 million. This compares to the $9 million it achieved in the prior corresponding period.

The Maca Ltd (ASX: MLD) share price is up 2% to 99.5 cents. This morning the mining and civil services company advised that it will cease operations in Brazil this month. This follows the early termination of the contract at Antas for Oz Minerals Limited (ASX: OZL). This news was offset by several new project awards. One is a $9.5 million construction contract by VicRoads for the Bacchus Marsh Road Stage 2A Safety Improvements.

The Pact Group Holdings Ltd (ASX: PGH) share price has risen 3.5% to $2.78. Investors have been buying the packaging company's shares in response to news that it is planning to divest its Contract Manufacturing division. Management believes this will simplify its business, generate stronger returns for shareholders, and strengthen its balance sheet.

The THC Global Group Ltd (ASX: THC) share price has rocketed almost 12% to 43 cents. The cannabis company's shares have raced higher after it announced that the Australian Therapeutic Goods Administration has granted it a licence to manufacture therapeutic goods from its Southport Facility. Management revealed that it will now seek to complete negotiations for the export supply of cannabis medicines.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Data#3 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.

More on Share Gainers

Top ten gold trophy.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors endured a sour end to the trading week today.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Boral, FBR, Origin, and Regis Resources shares are pushing higher today

These ASX shares are ending the week positively. But why?

Read more »

A woman is excited as she reads the latest rumour on her phone.
Share Gainers

Why Computershare, Core Lithium, Northern Star, and Vulcan Energy shares are storming higher

These ASX shares are avoiding the market weakness. But why?

Read more »

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Materials Shares

How has the Liontown share price rocketed 15% in a week?

There's one factor that might explain Liontown's explosive performance of late.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why EOS, Novonix, St Barbara, and Whitehaven Coal shares are storming higher

These ASX shares are having strong sessions. But why?

Read more »

A man sits thoughtfully on the couch with a laptop on his lap.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a strong showing from ASX shares this Tuesday.

Read more »

two people celebrating good news, stock rise, price increase, positive announcement
Share Gainers

Why Ansell, Elders, Predictive Discovery, and Rio Tinto shares are storming higher

These ASX shares are having a strong session. But why?

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX's trading week was off to an encouraging start this Monday.

Read more »