Australian shares have trended lower today, wiping out some of the gains that were recognised last week as a result of falling commodity prices and cautiousness leading into company reporting season. Despite the general weakness however, a number of companies have managed to buck the trend.
Bellamy's Australia Ltd (ASX: BAL) has climbed 4.5% to trade at $5.11 as investors continue to see value in the Tasmanian-based baby formula producer. The company made its ASX debut just under a year ago and has already surged more than 320%. With strong growth prospects both locally and internationally there's no reason to suggest Bellamy's can't keep climbing higher.
Capilano Honey Ltd (ASX: CZZ) has announced the strategic acquisition of Manuka honey producer, KirksBees Honey, and this has the market buzzing for more. The company expects the acquisition to deliver increased product security and a material benefit to group earnings. The market seems to agree, bidding the stock another 6.2% higher today after rising 6.6% on Friday.
Integrated Research Limited (ASX: IRI) continued its marvellous run today, adding another 5.4% and giving it a remarkable 48.7% gain since 9 July. The company, which provides performance monitoring and diagnostics solutions for businesses, has adopted a more customer-centric strategy which is certainly paying off with the group expecting net profit after tax (NPAT) to lift by up to 70% for the 2015 financial year.
Gage Roads Brewing Co Limited (ASX: GRB) has made a habit of disappointing investors with its quarterly reports but its update to the market on Friday has proven to be an exception to that trend. The stock surged 31% on Friday afternoon and another 5.1% today on improved sales, with Gage Roads' new Craft Range providing plenty of drive.
