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Why Dicker Data, Harvey Norman, Rhipe, & Senex shares are pushing higher

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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is fighting hard to get into positive territory but has fallen short. At the time of writing the benchmark index is down 0.2% to 5,852 points.

Four shares that have not let that hold them back today are listed below. Here’s why they are pushing higher: 

The Dicker Data Ltd (ASX: DDR) share price is up 2.5% to $8.10. Today’s gain could be attributable to the wholesale distributor of computer software and hardware joining the S&P/ASX All Technology Index (ASX: XTX) this morning.

The Harvey Norman Holdings Limited (ASX: HVN) share price has climbed 2.5% to $4.46. This morning the retail giant released a trading update which revealed strong sales and profit growth so far in FY 2021. Harvey Norman’s comparable aggregated sales for the period 1 July 2020 to 17 September were up a massive 30.3% compared to the prior corresponding period. Things were even better for its earnings, with its unaudited profit before tax up 185.8% to $178.1 million during the first two months of FY 2021.

The Rhipe Ltd (ASX: RHP) share price is up 5% to $1.78 after announcing an acquisition. The cloud and technology solutions provider has entered into a binding agreement to acquire Parallo. It is a New Zealand-based IT services provider that specialises in infrastructure and cloud deployment technologies. Rhipe is acquiring Parallo for an initial fee of NZ$4.25 million. The acquisition is expected to be earnings accretive in FY 2021.

The Senex Energy Ltd (ASX: SXY) share price is up 6.5% to 32.5 cents. This morning the energy producer announced that it has been awarded preferred tenderer status for natural gas acreage in the Surat and Bowen basins. This is part of the Queensland Government’s domestic gas acreage tender process. The award includes additional highly valuable Atlas acreage immediately adjacent to Senex’s existing development.

Man who said buy Kogan shares at $3.63 says buy these 3 ASX stocks now

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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 Dicker Data 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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