The S&P/ASX 200 Index (ASX: XJO) is back on form on Tuesday and charging higher. In late morning trade, the benchmark index is up a solid 1% to 6,730.4 points.
Four shares that are climbing more than most today are listed below. Here’s why they are zooming higher:
Bingo Industries Ltd (ASX: BIN)
The BINGO share price has surged 21.5% higher to $3.33 after a much-speculated takeover approach was made for the waste management company. This morning BINGO revealed that it has received an unsolicited, highly conditional, non-binding, indicative proposal from funds advised by CPE Capital. The indicative cash price currently offered to BINGO shareholders under the proposal is $3.50 per share.
Creso Pharma Ltd (ASX: CPH)
The Creso share price is up 9% to 24 cents following the release of another sales update. According to the release, the cannabis company has received a repeat order from Virbac Switzerland for its leading range of animal health products anibidiol. Combined with other recent orders, management expects this to lead to revenue of almost $1.1 million for the first half of FY 2021.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The Domino’s share price has jumped 6% to $88.12. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, the broker has upgraded the pizza chain operator’s shares to an outperform rating with a $90.30 price target. It believes the company is winning market share from its rivals and feels it is well placed for growth.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price has stormed almost 17% higher to $2.71. Investors have been buying the company’s shares after it responded to a short seller attack this morning. Tyro stated that Viceroy Research’s claims are false. This includes the allegation that 50% of Tyro’s payment terminals had been bricked by a software update.
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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Tyro Payments. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
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