The S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a disappointing note. In late morning trade the benchmark index is down 3.3% to 5,339.3 points.
Four shares that have not let that hold them back are listed below. Here's why they are charging higher:
The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is up 3.5% to $26.18. Investors have been buying the medical device company's shares after its rival ResMed released a strong third quarter update. One of the key drivers of ResMed's growth during the quarter was demand for ventilators because of the coronavirus pandemic. Fisher & Paykel Healthcare is likely to be also experiencing heightened demand.
The Helloworld Travel Ltd (ASX: HLO) share price is up 1.5% to $1.77. Investors have been buying the travel company's shares after the release of a trading update. During the third quarter Helloworld reported a 17.6% decline in total transaction value to $1.28 billion. This led to a sharp reduction in quarterly EBITDA to $2 million. Positively, the company revealed that its net cash operating costs have been progressively reduced to approximately $2 million per month. Given its total cash of $150 million at the end of April, it appears very well-placed to ride out the storm.
The Janus Henderson Group plc (ASX: JHG) share price has jumped 10% to $27.07. This follows the release of its first quarter update after the market close on Thursday. The fund manager reported an operating loss US$332.4 million for the quarter. However, operating income adjusted for the goodwill and intangible asset impairments and one-time, acquisition and transaction related costs, was US$164.5 million. This was up 15% on the prior corresponding period.
The ResMed Inc. (ASX: RMD) share price is up 5% to $24.58. Investors have been buying ResMed's shares after it smashed expectations in the third quarter. Strong performances across the business led to ResMed reporting quarterly revenue of US$769.5 million and diluted earnings per share of US$1.12. This was a 16% and 53% increase, respectively, over the prior corresponding period. Strong demand for ventilators was a key driver of its growth.
