In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has followed the lead of U.S. markets and dropped significantly lower. At the time of writing the benchmark index is down 1.8% to 6,013 points.
Four shares that have defied the market and pushed higher are listed below. Here's why they have started the week with gains:
The Bubs Australia Ltd (ASX: BUB) share price is up almost 1% to 73 cents after announcing that its goat milk infant formula product is to be ranged in selected Woolworths Group Ltd (ASX: WOW) supermarkets. All three stages of Bubs Advanced Plus+ goat milk infant formula will be stocked and are expected to hit shelves from April. Great news but it is still a little soon for an investment in my opinion.
The Department 13 International Ltd (ASX: D13) share price has risen 1% to 9.8 cents after emerging from a trading halt. This morning the counter drone developer announced a proposed placement of up to $12 million in secured convertible notes which convert at A$0.10 per share. The proceeds will be used to support additional research and development into its MESMER technology, the hiring of additional sales staff, and the building out of inventory.
The Ellex Medical Lasers Limited (ASX: ELX) share price is 1% higher to 95.5 cents after releasing a trading update. The medical device company advised that its expects to report first-half sales growth of 11.7% compared to the prior corresponding period. This solid result has been driven largely by its glaucoma sales growth strategy.
The Speedcast International Ltd (ASX: SDA) share price is up almost 2% to $15.60. This morning the communications and IT services provider announced that it has secured a 10-year contract with NBN Co to deliver enterprise-grade satellite services. According to the release, the value of the base network build and managed services project is $107 million. But with other demand-driven services the aggregate revenue is expected to be as much as $184 million in total.
