The rally experienced by the local sharemarket appears to have run out of steam today, although it is still on track to record an especially strong week thanks to gains over the last three days.
The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) and ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) are both hovering roughly 0.1% lower for the session, however, a number of companies have managed to buck the downward trend and have recorded gains today. Here are four of those companies:
Lynas Corporation Ltd (ASX: LYC) shares have risen 5.3% today after climbing as much as 24% earlier in the session. The rare earths miner has been a serial underperformer for investors but today reported a $6.4 million positive cash flow for the June 2015 quarter. The company ended the year with $51.9 million in cash, up from $44.4 million as at the end of March.
Nine Entertainment Co Holdings Ltd (ASX: NEC) gained 5.7%, giving investors a much-needed sense of reprieve following a dismal performance over the last three months. Nine Entertainment shares hit a high of $2.36 early in May and have since plummeted 37% as investors have tuned out of the free-to-air network. Some experts predict that free-to-air broadcasters will be non-existent within the next five years as a result of the changing entertainment landscape.
Regis Resources Limited (ASX: RRL) surged 23.5% in what has been a busy day of announcements for the gold miner. Firstly, Regis announced that it has completed the acquisition of Gloster Gold Deposit, while it also announced the board's intention to recommence the payment of dividends with a target of 5-7 cents per share as a payment in the December 2015 quarter. Further, it has also decided to implement an on-market share buyback programme for up to 5% of the company's issued capital, which will theoretically boost the value of the company for long-term shareholders.
Jumbo Interactive Ltd (ASX: JIN) also rose a staggering 10.9% to trade at $1.02 after the internet lottery business provided an updated earnings guidance. Although net profit for the 2015 financial year is tipped to fall approximately 7% due to its German operations, the company said that a restructure is underway which will significantly improve expenses while it will also give greater focus to marketing in the region.
