The S&P/ASX 200 index has followed the lead of U.S. markets and is tumbling lower again on Thursday. In afternoon trade the benchmark index is down 0.8% to 6,653.6 points.
Four shares that have not let that hold them back are listed below. Here's why they are charging higher:
The a2 Milk Company Ltd (ASX: A2M) share price is up 5% to $15.72 after beating its half year guidance. During the first half of FY 2020, a2 Milk Company delivered revenue growth of 31.6% to NZ$806.7 million and EBITDA growth of 20.5% to NZ$263.2 million. The latter equates to an EBITDA margin of 32.6%, which is higher than its guidance range of 31% to 32%.
The Bank of Queensland Limited (ASX: BOQ) share price is up 3% to $7.53 after the unveiling of its refreshed five-year strategy. This strategy has been designed to drive enhanced customer experiences, generate sustainable and profitable growth, and create long term shareholder value. Judging by its share price performance today, the market appears to see value in the regional bank's plans. Management also updated its guidance for FY 2020.
The Costa Group Holdings Ltd (ASX: CGC) share price is 6% higher at $3.04. This morning the horticulture company released its results for calendar year 2019. During the 12 months the company recorded a 5.8% increase in revenue to $1,048 million. This was driven by its new Colignan citrus farm sales, as well as increased table grape marketing volume. Things weren't quite as positive for its earnings. Costa's EBITDA fell 21.5% to $98.3 million, but this was in line with its guidance.
The Infomedia Limited (ASX: IFM) share price has zoomed 14% higher to $2.10. This follows the release of the half year results of the leading software provider to the global automotive industry. For the six months ended December 31, Infomedia reported a 19% increase in revenue to $47.9 million and a 35% jump in EBITDA to $22.9 million.
