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 benchmark index is up 0.3% to 7,031.1 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 AVITA Medical Ltd (ASX: AVH) share price has jumped 8% to 69 cents following the release of its second quarter update. During the quarter AVITA delivered total revenue of $5.6 million, which was an increase of 41.6% on the prior corresponding period. This brought its total revenue for the half to $13.53 million, which is up a massive 95.3% on the same period last year. The main driver of its growth was its performance in the massive United States market. Total revenue in the United States for the half came to $9.3 million, compared to $1.1 million a year earlier.
The Bigtincan Holdings Ltd (ASX: BTH) share price has rocketed 15.5% higher to $1.00. Investors have been buying its shares after it announced a deal with a global technology company. According to the release, Bigtincan has won a competitive bid for a deployment with US-based DXC Technology Services. The total contract value is $6.2 million (US$4.3 million) over the two years. DXC has the option to extend the contract for a third year.
The Link Administration Holdings Ltd (ASX: LNK) share price has surged 11% higher to $6.88. Investors have been buying Link’s shares after it announced the acquisition of Pepper European Servicing for an upfront cash payment of €165 million (~A$266 million). The deal includes a contingent cash payment of up to €35 million (~A$56 million). Management expects the transaction to be double digit accretive to earnings, with a further 5% to 6% accretion anticipated from efficiency benefits over the medium term.
The ResMed Inc. (ASX: RMD) share price is up 4% to $25.34 following the release of its second quarter update. During the second quarter the sleep treatment specialist delivered revenue growth of 13% to US$736.2 million. And thanks to its expanding margins, ResMed’s net operating profit increased 26% to US$197.8 million.
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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 BIGTINCAN FPO and Link Administration Holdings Ltd. The Motley Fool Australia has recommended BIGTINCAN FPO, Link Administration Holdings Ltd, and ResMed Inc. 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.