In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to start the week strongly. At the time of writing, the benchmark index is up 0.8% to 6,717.1 points.
Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:
A2 Milk Company Ltd (ASX: A2M)
The a2 Milk share price is up 4% to $11.38. Investors have been buying the infant formula company’s shares after they were sold off earlier this month following a guidance downgrade. It appears as though they believe the selling was overdone and the headwinds it is facing in the daigou channel are only temporary.
Adacel Technologies Limited (ASX: ADA)
The Adacel share price has jumped 8% to 96 cents. This morning the air traffic management systems provider announced its intention to conduct an on-market share buy-back during the period from 11 January 2021 to 10 January 2022. According to the release, the company will acquire up to approximately 7.6 million or up to 10% of its shares on issue.
Dusk Group Ltd (ASX: DSK)
The Dusk share price is up a sizeable 12% to $2.02. Investors have been buying the home fragrance product retailer’s shares after it provided a positive trading update. Management expects sales for the first half of FY 2021 to be in the range of $90 million to $90.5 million. That compares to $58.7 million in the first half of FY 2020. Earnings before interest and tax (EBIT) is estimated to be between $26 million and $27 million. This is up materially on FY 2020’s first half EBIT of $9.7 million.
Nuheara Ltd (ASX: NUH)
The Nuheara share price has rocketed 13.5% higher to 5 cents. The catalyst for this was a big announcement by the smart and affordable hearing solutions provider. Nuheara has signed an agreement to manufacture HP-branded products for American multinational information technology company HP Inc (NYSE: HPQ). According to the release, the hardware product purchase agreement has a contracted initial term of three years with automatic renewals for successive one-year periods.
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Returns as of 6th October 2020
More reading
- Why the Dusk Group (ASX:DSK) share price is rocketing 14% higher
- Why the Nuheara (ASX:NUH) share price is rocketing 23% higher today
- Top brokers name 3 ASX shares to buy next week
- These were the best performers on the ASX 200 last week
- 2 ASX growth shares to buy when the market reopens
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended A2 Milk. 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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