Although it has given back some of its early gains, in afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) remains in positive territory and is up 0.2% to 5,757 points.
Four shares which have made notably strong gains today are listed below. Here's why they are higher:
The Afterpay Touch Group Ltd (ASX: APT) share price is up 8% to $4.31 after the payments company announced a partnership with low cost airline Jetstar. The Afterpay service will be made available immediately on domestic flights booked at least eight weeks in advance with a value of between $200 and $1,000. I see this agreement as a big win for both parties.
The Kidman Resources Ltd (ASX: KDR) share price has climbed 5.5% to 87.5 cents after the lithium miner updated the market on its Marindi Metals litigation costs. According to today's release, Marindi Metals has been ordered to pay Kidman's legal costs after the latter successfully defended the proceedings brought against it in the WA Supreme Court.
The Kogan.com Ltd (ASX: KGN) share price has stormed 9% higher to $3.67 despite there being no news out of the online retailer. Although Amazon is expected to launch in Australia in the near future and go head on with Kogan, investors don't appear to believe that it will negatively impact the Australian retailer. I would suggest investors remain cautious and hold off an investment.
The Mayne Pharma Group Ltd (ASX: MYX) share price has jumped 10% to 71 cents. A significantly greater-than-average number of its shares have been traded over the last couple of days, potentially indicating that someone sees a lot of value in the pharmaceutical company right now. Whilst I do think it looks cheap, I'd wait to see if conditions improve in the U.S. generic drugs market before making an investment.
