In early afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is higher by 0.4% to 5,789 points thanks partly to strong gains in the information technology sector.
Four shares which have followed the market higher and posted strong gains today are listed below. Here's why they are higher:
The Aristocrat Leisure Limited (ASX: ALL) share price is up 5.5% to $21.93 after the gaming solutions company announced the US$500 million acquisition of Israel-based social gaming company Plarium. Management expects the deal to notably boost the revenue of its fast-growing Digital segment and be accretive to earnings in year one. I think this acquisition makes Aristocrat Leisure an even more attractive investment.
The Bubs Australia Ltd (ASX: BUB) share price is up 6% to 51.5 cents a day after the company updated the market on its progress in the China market. During morning trade Bubs reached another all-time high of 53 cents. Investors appear to be increasingly bullish on its prospects in the lucrative market.
The Orora Ltd (ASX: ORA) share price has jumped 9% to $2.98 following the release of the packaging company's full-year results. Thanks largely to an impressive performance from its North American business, Orora posted its third successive year of double-digit earnings growth. Even after today's gain, I think it could be worth a closer look.
The Virgin Australia Holdings Ltd (ASX: VAH) share price has climbed 6% to 18.5 cents after the airline released its full-year results which revealed that its loss has narrowed. Virgin Australia posted a loss of $185.8 million in FY 2017, which was an improvement of $38.9 million on FY 2016's result.
