The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is just managing to keep its head above water and in afternoon trade is up 0.1% to 5,774 points.
Four shares which have outperformed the market today are listed below. Here's why they have climbed higher:
The Auscann Group Holdings Ltd (ASX: AC8) share price has bounced back after recent declines and is up 9% to 49.5 cents. The medicinal cannabis company's shares came under heavy selling pressure in the last few trading days following a $12 million capital raising at 50 cents per share. It appears as though bargain hunters have swooped in today.
The Aristocrat Leisure Limited (ASX: ALL) share price is up 4% to an all-time high of $21.04 following the release of an impressive half-year result. The gaming solutions company reported a 49% increase in half-year NPATA to $272.9 million thanks partly to the impressive performance of its Americas business. Although its shares look expensive at 30x trailing earnings, considering its current growth profile I think it could be worth a closer look.
The Ansell Limited (ASX: ANN) share price has jumped 4.5% to $25.22 after the health and safety protection solutions provider announced plans to offload its Sexual Wellness business for US$600 million and initiate a major share-buyback program. At US$600 million, the deal values the segment at 19x FY 2016 EBIT. I think Ansell has received a good price and I can't say I'm surprised to see its shares jump higher.
The Worleyparsons Limited (ASX: WOR) share price has surged 7% to $12.50 today, bringing its two-day return to a massive 13%. Investors appear to be snapping up shares after management stated that its customers are indicating a return to CAPEX and OPEX growth. This led to Deutsche Bank upgrading its shares to a buy rating with a $13.73 price target. I think Worleyparsons could be a good option for investors looking to gain exposure to the resources sector.
