It has been yet another disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is down 1% to 5,654 points.
Four shares which have not let that hold them back are listed below. Here's why they are storming higher:
The Eden Innovations Ltd (ASX: EDE) share price is up 14% to 20 cents after its announced that the US Federal Highway Administration has approved the use of its EdenCrete admixture product in concrete used by the Georgia Department of Transportation in federally funded repair projects. Whilst I think Eden Innovations has significant potential, I would suggest investors hold off an investment until it is generating meaningful revenues.
The G8 Education Ltd (ASX: GEM) share price is up almost 3.5% to $3.90 after the childcare operator announced the acquisition of 19 early education and childcare centres. G8 will pay $27 million for the centres, which works out to be under 4x earnings before interest and tax. The market appears to believe G8 got a good deal and I would agree.
The Santos Ltd (ASX: STO) share price has climbed 2% to $4.00 despite there being no news out of the oil and gas producer. Today's gain is likely to relate to oil prices hitting a four-month high on Wednesday amid speculation that OPEC will extend its production-cut deal. I think Santos is great value if oil prices stay at current levels or go higher.
The Titomic Limited (ASX: TTT) share price has rocketed 122% to 44.5 cents on its first day on the Australian share market. Investors appear to be impressed with the potential of the Melbourne-based additive manufacturing company's Titomic Kinetic Fusion product. It mitigates oxidisation issues and size limitations associated with other 3D printing processes.
