In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small decline. At the time of writing, the benchmark index is down 0.2% to 7,038 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are rising today:
CSL Limited (ASX: CSL)
The CSL share price is up 2.5% to $277.48. Investors have been buying this biotherapeutics giant’s shares for a couple of reasons. One is optimism that the company will be able to overturn the US government’s ban on Mexican citizens crossing the border to donate plasma. The other is the release of a couple of bullish broker notes.
Dicker Data Ltd (ASX: DDR)
The Dicker Data share price is up 1.5% to $12.49. This follows the release of the technology hardware and software distributor’s first-quarter trading update. For the three months ended 31 March, Dicker Data reported a 50.5% increase in revenue to $673.6 million and a 22.7% lift in profit before tax to $23.8 million. This was driven by a combination of organic growth and the acquisition of Exeed.
Lifestyle Communities Limited (ASX: LIC)
The Lifestyle Communities share price is up 11% to $13.47. Investors have been buying this land lease communities company’s shares following some insider buying and a bullish broker note out of Goldman Sachs. In respect to the latter, Goldman has reiterated its conviction buy rating and $24.65 price target. That price target implied 100% upside prior to today’s gain.
Money3 Corporation Limited (ASX: MNY)
The Money3 share price is up 7.5% to $2.40. This morning the auto lender announced that it will be returning funds to shareholders via an on-market share buyback. Money3 intends to buy back up to $15 million worth of shares over the next 12 months. Management advised that this reflects the strong confidence of the Board and Management in the company’s financial performance and future growth prospects.
The post Why CSL, Dicker Data, Lifestyle Communities, and Money3 shares are rising today appeared first on The Motley Fool Australia.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended CSL Ltd. and Dicker Data Limited. The Motley Fool Australia has positions in and has recommended Dicker Data Limited. 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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