The S&P/ASX 200 Index (ASX: XJO) has fought back from an early decline and is pushing higher. In late morning trade the benchmark index is up 0.2% to 6,689.3 points.
Four shares that are climbing more than most today are listed below. Here's why they are charging higher:
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Adairs Ltd (ASX: ADH)
The Adairs share price has jumped over 8.5% to $3.50. This follows the release of a trading update by the homewares retailer this morning. For the first 23 weeks of FY 2021, Adairs reported a 23.4% increase in total Adairs sales compared to the prior corresponding period. The company's Mocka business was an even stronger performer, reporting a 45.1% increase in sales. In light of this positive performance, management is forecasting exceptionally strong earnings growth in the first half.
Link Administration Holdings Ltd (ASX: LNK)
The Link share price has surged 14% higher to $5.66. This follows the receipt of a second takeover approach. SS&C Technology has tabled an offer of $5.65 per share. This represents a 13.9% premium to Link's last close price. It is also higher than the offer made by a consortium comprising Pacific Equity Partners and Carlyle Group. It is currently conducting due diligence after offering $5.40 per share.
Nuix Ltd (ASX: NXL)
The Nuix share price has risen 4.5% to $9.45. Investors continue to scramble to get hold of the investigative analytics and intelligence software provider's shares following its IPO last week. The Nuix share price is now up over 78% since listing at $5.31.
Tyro Payments Ltd (ASX: TYR)
The Tyro share price has risen 4.5% to $3.48. This appears to have been driven by a broker note out of Macquarie this morning. According to the note, Macquarie has upgraded Tyro's shares to a neutral rating from underperform. The broker has also lifted its price target to $3.50. It has been pleased with the payments company's recovery since the height of the pandemic.
