Why Capitol Health, Capricorn Metals, Credit Clear, and Telix shares are storming higher

These shares are starting the week with a bang. But why?

| More on:
Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 Index (ASX: XJO) is having an underwhelming start to the week. In afternoon trade, the benchmark index is down 0.2% to 7,708.5 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are rising today:

Capitol Health Ltd (ASX: CAJ)

The Capitol Health share price is up 15% to 28.2 cents. This morning, this diagnostic imaging company announced that it had accepted an offer from Integral Diagnostics Ltd (ASX: IDX). The latter tabled a merger offer with an implied exchange ratio of 0.12849 Integral Diagnostics shares for every Capitol Health share. This equated to an offer of 32.6 cents per share, which represented a 33% premium to Friday's closing prices. Management intends to recommend the offer to shareholders, subject to a number of conditions.

Capricorn Metals Ltd (ASX: CMM)

The Capricorn Metals share price is up 4.5% to $4.66. This appears to have been driven by a broker note out of Bell Potter. According to the note, the broker has retained its buy rating on the gold miner's shares with an improved price target of $6.53. Bell Potter made the move in response to news that Capricorn Metals has reduced its gold hedge book by 52,000 ounces. Bell Potter notes that the buyback of approximately half of its remaining hedge book mirrors the successful strategy of 2023, which resulted in a relative cash benefit of ~$13 million.

Credit Clear Ltd (ASX: CCR)

The Credit Clear share price is up 5% to 25.2 cents. This morning, this technology and debt collection provider announced that it was upgrading its guidance again. FY 2024 revenue is now expected to be at the upper end of the $40 million to $42 million guidance range. Whereas FY 2024 underlying EBITDA guidance is up from in excess of $3 million to in excess of $3.7 million. Management notes that this represents a ~23% increase in minimum expectations. It also notes that the guidance upgrade "reflects an improving underlying EBITDA margin, which is a key focus and expectation in the company's continued growth."

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix Pharmaceuticals share price is up 3.5% to $17.18. This may also have been driven by a broker note out of Bell Potter. At the end of last week, the broker upgraded the radiopharmaceuticals company's shares to a buy rating with a $19.00 price target. It believes that recent share price weakness has created a buying opportunity. The broker said: "The pullback represents an opportunity to buy the stock ahead of an exciting period of news flow over the second half of the CY24 which will include potential FDA approvals for Zircaix and Pixclara."

Motley Fool contributor James Mickleboro has positions in Telix Pharmaceuticals. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Telix Pharmaceuticals. The Motley Fool Australia has recommended Integral Diagnostics and Telix Pharmaceuticals. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Gainers

People sit in rollercoaster seats with expressions of fear, terror and exhilaration as it goes into a steep downward descent representing the Novonix share price in FY22
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors had a rough end to the trading week this Friday.

Read more »

Siblings jumping on a trampoline.
Share Gainers

These 3 ASX 200 stocks are charging higher this week. Own any?

Investors have been piling into these ASX 200 stocks this week. But why?

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Domino's, Nick Scali, REA, and Sigma shares are charging higher today

These shares are ending the week on a high. Let's see why investors are bidding them higher today.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why BWP, Magellan, News Corp, and Winsome shares are pushing higher today

These shares are having a better day than most on Thursday. But why?

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back in form this hump day...

Read more »

A boy stands firm on a rocky cliff holding a rocket in each hand and looking up toward the sky, anticipating flying into space.
Resources Shares

Up 864% in a year, how this ASX mining stock is primed to keep rocketing in 2025

The ASX mining stock looks to be in a sweet spot amid export bans from China and Russia.

Read more »

Happy coal miner.
Energy Shares

Why are ASX coal shares having such a cracking run today?

The latest salvo in the new American tariff war is benefiting some ASX shares.

Read more »

Wife and husband with a laptop on a sofa over the moon at good news.
Share Gainers

Why BWP, Insignia, Nufarm, and Pinnacle shares are charging higher today

These shares are having a good time on hump day. But why?

Read more »