The S&P/ASX 200 index is on course to finish the week on a very positive note. In afternoon trade the benchmark index is up a solid 1.4% to 6,597 points.
Four shares that are climbing more than most today are listed below. Here's why they are ending the week with a bang:
The Appen Ltd (ASX: APX) share price has bounced back from yesterday's selloff and is 4% higher to $25.30. On Thursday the global leader in the development of high quality, human-annotated training data for machine learning and artificial intelligence reported a 60% increase in revenue to $245.1 million and an 81% increase in underlying EBITDA to $46.3 million. This appears to have impressed UBS, leading to the broker upgrading its shares to a buy rating with a $30.00 price target.
The Austal Limited (ASX: ASB) share price has rocketed an impressive 12.5% higher to $4.16. This morning the shipbuilder released its full year results and revealed a massive 64% surge in net profit to $61.4 million. Pleasingly, more growth is expected in FY 2020 with management providing earnings before interest and tax guidance of at least $105 million. This will be a year on year increase of 13%.
The Experience Co Ltd (ASX: EXP) share price has zoomed 23% higher to 24 cents following the release of the adventure tourism company's full year results. Although Experience Co posted a significant loss after tax due to impairments, its EBITDA result was in line with its previous guidance. The company also advised that it will provide an update on a strategic review at its AGM in November.
The Freedom Foods Group Ltd (ASX: FNP) share price has raced 26% higher to $5.07 after delivering strong profit growth in FY 2019. Freedom Foods reported a 34.9% increase in sales to $476.2 million and a 40.9% increase in operating EBDITA to $55.2 million. This was driven largely by strong sales growth from its key Dairy & Nutritional Ingredients and Plant Based Beverages segments.
