It has been a disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down 0.4% to 6,285.9 points.
Four shares that have defied the market and pushed higher today are listed below. Here's why they are storming higher:
The Ausdrill Limited (ASX: ASL) share price has risen 8% to $1.70 after the diversified mining services company released its notice of meeting and independent expert's report. According to the release, Ausdrill's board of directors unanimously recommends that shareholders vote in favour to approve the Barminco acquisition. The acquisition is expected to be materially earnings per share accretive for Ausdrill, with underlying pro forma FY 2018 earnings indicating EPS accretion of over 28% excluding synergies.
The Bellamy's Australia Ltd (ASX: BAL) share price has bounced back from yesterday's heavy decline with a 5% gain to $10.84. The infant formula company's shares fell heavily on Monday after it emerged that China was introducing new e-commerce laws. While I think that Bellamy's is a quality growth investment option at these levels, its shares are highly volatile right now and not for the faint-hearted.
The Evolution Mining Ltd (ASX: EVN) share price has pushed almost 5% higher to $2.83 after the gold miner released a three-year outlook. Evolution expects production and all-in sustaining costs to remain reasonably flat over the next three years. It has forecast production above 700,000 ounces each year and all-in sustaining costs between A$850 an ounce to A$920 an ounce.
The Nufarm Limited (ASX: NUF) share price has risen over 4% to $7.20 after advising that the Brazilian court has overturned the suspension of the sale of products containing glyphosate in the country. This will allow Nufarm to continue to sell glyphosate for use in the forthcoming Brazilian soybean planting season. However, it is worth noting that the Brazilian Health Agency will continue with its current regulatory review of glyphosate.
