The S&P/ASX 200 Index (ASX: XJO) has started the week in very strong form. In late morning trade the benchmark index is up 0.7% to 6,219.5 points.
Four shares that are climbing more than most today are listed below. Here’s why they are pushing higher:
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is up 5% to $8.89 following the release of its third quarter update. According to the release, the distributor of computer hardware and software has achieved revenue growth of 14.9% to $1,481.5 million for the nine months to 30 September. Things were even better on the bottom line, with net profit before tax up 28.3% to $60.8 million over the nine months.
South32 Ltd (ASX: S32)
The South32 share price is climbing almost 4% higher to $2.19. This follows the release of the mining giant’s first quarter update. South32 delivered production in line with expectations, which led to management reaffirming its full year guidance. In addition to this, its strong operating performance and financial position has allowed the company to resume its share buy-back program.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price is up 3.5% to $4.30 following the release of its weekly COVID-19 trading update. That update revealed that Tyro has processed $1.025 billion of transactions month to date. This is up 11% on the prior corresponding period. In addition to this, this morning Ord Minnett retained its accumulate rating and lifted its price target on Tyro’s shares to $5.00.
Uniti Group Ltd (ASX: UWL)
The Uniti share price has risen over 2% to $1.27 following its first quarter update. The telco reported record net operating cash flow of $10.5 million for the quarter. Management also revealed that key financial performance metrics for first three months of FY 2021 are above budgeted levels. This includes above-budget growth in new FTTP connections and activations.
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Returns as of 6th October 2020
More reading
- South32 (ASX:S32) share price up 3% on solid Q1 update
- 5 things to watch on the ASX 200 next week
- ASX 200 falls, Tyro (ASX:TYR) up on merchant deal
- Why Beacon Lighting, Medibank, Redbubble, & Tyro shares are racing higher today
- Tyro (ASX:TYR) share price shoots higher on Bendigo and Adelaide Bank (ASX: BEN) deal
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 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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