In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to record another solid gain. At the time of writing the benchmark index is up almost 1.1% to 5,997.3 points.
Four shares that are climbing more than most today are listed below. Here's why they are racing higher:
The Afterpay Ltd (ASX: APT) share price is up 5% to $65.44. The catalyst for this gain has been a broker note out of Citi. Although the broker has retained its neutral rating on its shares, it has increased its price target by more than double to $64.25. The broker made the move after upgrading its earnings estimates.
The Bigtincan Holdings Ltd (ASX: BTH) share price is up 2% to 80.5 cents. Investors have been buying the artificial intelligence-powered sales enablement automation platform provider's shares after it announced a new contract win. Bigtincan has signed a contract with Red Bull GmbH for a deployment of its software with a total contract value of $1.8 million over 30 months. It also includes an option to extend the agreement for a further 60 months.
The Dicker Data Ltd (ASX: DDR) share price has jumped 7.5% to $7.53. This follows the release of a half year update by the wholesale distributor of computer hardware and software. Dicker Data has recorded over $1 billion of unaudited revenue during the half, which represents an 18.3% increase over the prior corresponding period. Unaudited net profit before tax came in at ~$40 million for the six months. This represents a 25% jump on its profit before tax during the first half of FY 2019.
The NIB Holdings Limited (ASX: NHF) share price is up over 5% to $4.88. Investors have been buying the private health insurer's shares after it responded to an announcement by APRA. The regulator has warned private health insurers to provision in FY 2020 for a presumed catch up in treatment and claims post-pandemic. This morning NIB confirmed that its forecast capital position remains well ahead of regulatory requirements, internal targets, and allows for APRA's announcement.
