The S&P / ASX 200 (Index: ^AXJO) (ASX: XJO) has lost ground in early afternoon trade but that doesn't mean there aren't a number of standout stocks climbing higher on the back of improving outlooks or market updates.
Yowie Group Ltd (ASX: YOW) is a children's confectionary maker and distributor hoping to make it big in the United States. Its shares have jumped 6.5 cents or more than 14% today after it announced an agreement to trial a product launch in 60 convenience stores belonging to the largest pharmaceutical and retail chain in the United States.
Evidently investors are excited about the possibility of the trial being successful and Yowie being able to launch its product into further stores owned by the mystery retailer. This looks like a positive development especially when you consider that the unnamed retail chain is said to operate 8,217 stores in total. That compares favourably to the combined total of 1,613 operated in Australia by Coles and Woolworths Limited (ASX: WOW).
Tap Oil Limited (ASX: TAP) is up 3.5 cents or 6.36% today after announcing that production has commenced at its flagship Manora Oil Development in the Northern Gulf of Thailand.
Tap's chief executive, Troy Hayden, described it as a watershed event for the business which is now expected to generate significant cash flow and build its status as a mid-tier producer.
Notably the company is returning to producer status after what was effectively a two-year hiatus and unsurprisingly the stock has travelled sideways over that period. The Manora oil development is forecast to have at least an 11-year life economic life and investors will be hoping it delivers better times ahead.
Select Harvests Limited (ASX: SHV) has climbed more than 5% to $6.70 on the back of a positive investor presentation. The group grows one of the world's most popular nuts, the almond, across Victoria and New South Wales and is Australia's largest vertically integrated nut and health food company. It can grow production organically through planting programs or acquisitively by buying ready-made orchards.
The group announced at its presentation that almond pricing has increased 10-15% on the prior year with one key factor likely being responsible for this. The rival U.S. almond industry largely centred in California has been devastated by the most severe drought ever recorded in the region. The drought is now reaching epochal proportions with a State of Emergency declared and no end in sight. While this is unfortunate, the consequent slashing of global almond supply has benefited domestic producers in Australia such as Select Harvests.
Tox Free Solutions Limited (ASX: TOX) is up 14 cents or more than 6% to $2.33 today. The waste management business is likely seeing some bargain-hunting buying after some investors appeared to lose faith in the business after it reported weaker-than-expected full year results last August.
August's results sent an already weakening stock price heading downhill fast to recently hit a bottom around $2.15. However, today's investor support suggests some see value in a business that has rapidly grown revenues over the last four years, with potential to keep cashing in on the growing demand for waste management services thanks to the trend towards privatisation.
