In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to record a disappointing decline. At the time of writing, the benchmark index is down 0.65% to 6,626.6 points.
Four shares that have not let that hold them back are listed below. Here’s why they are pushing higher:
A2 Milk Company Ltd (ASX: A2M)
The a2 Milk share price is up 1.5% to $10.40. This appears to be down to bargain hunters swooping in today to take advantage of a significant pullback in the infant formula company’s share price. Its shares were sold off last week after it was forced to downgrade its guidance due to weakness in the daigou channel.
Doctor Care Anywhere Ltd (ASX: DOC)
The Doctor Care Anywhere share price has jumped 7% higher to $1.29. This has been driven by an announcement that revealed that the UK-based telehealth company has signed a new channel agreement with Allianz Partners. It is one of the world’s largest insurance and assistance companies. This agreement will give Allianz Partners international private medical insurance policyholders and their dependents based in Europe access to Doctor Care Anywhere’s digital health services.
McPherson’s Ltd (ASX: MCP)
The McPherson’s share price is up 5% to $1.39. Investors have been buying the beauty products company’s shares following the release of an update after the market close on Monday. That update revealed that McPherson’s is on track to achieve its previous first half underlying profit before tax guidance which was recently withdrawn. It is expecting underlying profit before tax in the range of $6.5 million to $7.5 million. This represents an 11.8% to 23.5% decline on the prior corresponding period.
Volpara Health Technologies Ltd (ASX: VHT)
The Volpara share price has risen 3.5% to $1.37. This solid gain has been driven by news that it has signed a five-year software-as-a-service (SaaS) contract with BreastScreen Queensland following a successful pilot trial. BreastScreen Queensland is the third largest public breast screening program in Australia. The contract is initially for Volpara’s quality assurance platform, VolparaEnterprise. But allows for the expansion of services to include VolparaDensity and VolparaLive.
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Returns as of 6th October 2020
More reading
- ASX 200 down 0.85%: ANZ CFO resigns, tech shares tumble, iron ore jumps
- Volpara (ASX:VHT) share price jumps 5% in morning trading. Here’s why
- Why brokers slashed their A2 Milk (ASX:A2M) share price target
- Why the Doctor Care Anywhere (ASX:DOC) share price is surging 11% higher
- Why the McPherson’s (ASX:MCP) share price could charge higher on Tuesday
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 and recommends VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended A2 Milk. The Motley Fool Australia has recommended VOLPARA FPO NZ. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why a2 Milk, Doctor Care Anywhere, McPherson’s, & Volpara are pushing higher appeared first on The Motley Fool Australia.
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