The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to bounce back from yesterday's decline. In afternoon trade the benchmark index is up 0.25% to 6,144 points.
Four shares that are climbing more than most today are listed below. Here's why they have surged higher:
The Bubs Australia Ltd (ASX: BUB) share price has jumped over 5% higher to 59.5 cents after the goat milk infant formula company announced that it has entered into a long-term strategic supply partnership with Bega Cheese Ltd (ASX: BGA) subsidiary Tatura Milk Industries. The agreement will see Tatura convert fresh goat milk directly from farm gate into infant formula nutritional base in one step.
The Costa Group Holdings Ltd (ASX: CGC) share price is up 5% to $5.45 following the release of the horticulture company's results for the six months ended December 30. Although it reported a sharp decline in profits compared to the prior corresponding period, the market has responded positively to news that trading conditions have improved significantly since its last update. In addition to this, management reaffirmed its calendar year 2019 guidance for 30% profit growth.
The FlexiGroup Limited (ASX: FXL) share price has rocketed over 18% higher to $1.55 a day after the release of its half year results. The catalyst for this gain could have been a broker note out of Deutsche Bank this morning. According to the note, the broker has upgraded its shares to a buy rating with a $1.80 price target largely on valuation grounds and potential upside from new initiatives.
The SEEK Limited (ASX: SEK) share price has stormed 6% higher to $18.44 after the release of a better than expected first half result from the job listings company. During the first half SEEK delivered revenue growth of 21% to $757.2 million and EBITDA growth of 6% to $238.5 million. According to a note out of Goldman Sachs, its analysts had predicted EBITDA of $225 million in the first half.
