In early afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning run. At the time of writing, the benchmark index is down 0.2% to 6,668.5 points.
Four shares that are not letting that hold them back are listed below. Here's why they are charging higher:
Harvey Norman Holdings Limited (ASX: HVN)
The Harvey Norman share price is up 6% to $4.85. This follows a positive reaction from brokers to the retailer's trading update yesterday. One broker that liked what it saw was Credit Suisse. This morning it retained its outperform rating and $5.06 price target on the company's shares.
Northern Star Resources Ltd (ASX: NST)
The Northern Star share price is up over 3% to $12.93. This appears to have been driven by a small recovery in the gold price and an update on its merger with Saracen Mineral Holdings Limited (ASX: SAR). That update revealed that all Northern Star financier consents and material Saracen facilities and relevant agreements consents required under their merger implementation deed have been obtained and are now satisfied. A number of other conditions, such as shareholder approval are still required. The Saracen share price is also up 3%.
Stockland Corporation Ltd (ASX: SGP)
The Stockland share price is up 2% to $1.65 after naming its new chief executive officer. The retail property company has appointed Lendlease Group (ASX: LLC) chief financial officer, Tarun Gupta, as its new leader. He will join the company in June 2021. Current CEO, Mark Steinert, is retiring from the role after over 7 years with the company.
TechnologyOne Ltd (ASX: TNE)
The TechnologyOne share price is up 4.5% to $9.45. Investors have been buying the enterprise software company's shares after brokers responded positively to its full year results. Morgans has retained its add rating and lifted its price target to $9.99. TechnologyOne's FY 2020 result was better than it expected and it was pleased with management's positive commentary for the year ahead.
