The bull market has got off to a poor start on Wednesday. In late morning trade the S&P/ASX 200 Index (ASX: XJO) is down 1.1% to 5,425.7 points.
Four shares that have not let that hold them back are listed below. Here’s why they are pushing higher:
The Appen Ltd (ASX: APX) share price is up 3% to $24.90. This follows the release of a business update from the artificial intelligence company this morning. That update revealed that Appen is on target to achieve its guidance for FY 2020. This will mean full year underlying EBITDA in the range $125 million to $130 million. Which represents a 23.8% to 28.7% increase on FY 2019’s underlying EBITDA of $101 million.
The Bubs Australia Ltd (ASX: BUB) share price has jumped 9% to 95 cents following the release of its third quarter update. For the quarter, the infant formula company posted record quarterly revenue of $19.7 million. This was a 67% jump on the prior corresponding period and a 36% lift on the second quarter. The company also revealed that it is now generating positive operating cashflow. Bubs recorded positive operating cashflow of $2.3 million, leaving it with a cash balance of $36.4 million.
The InvoCare Limited (ASX: IVC) share price is up 2% to $11.53. This follows the successful completion of its institutional placement. This morning the funerals company revealed that it has successfully raised $200 million from institutional investors. These funds were raised at a price of $10.40 per new share, which represents a discount of 7.8% to its last close price. InvoCare increased the size of the placement by $50 million due to strong demand.
The Volpara Health Technologies Ltd (ASX: VHT) share price has jumped 6% to $1.56 after announcing a partnership with Ambry Genetics. The cancer screening software platform provider has partnered with Ambry Genetic to bring a new era of breast care to patients in the United States. Volpara believes the collaboration agreement has the potential to significantly increase its average revenue per user upon successful clinical implementation.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended VOLPARA FPO NZ. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended BUBS AUST FPO and InvoCare Limited. 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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