In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded of its lows and is down 0.9% to 5,837 points following heavy losses overnight in U.S. markets.
Four shares that have managed to defy the market and push higher today are listed below. Here's why they are on course to finish the week with a bang:
The Beston Global Food Company Ltd (ASX: BFC) share price is up almost 7.5% to 22 cents after updating the market on the transformational restructuring of its Scorpio Meat business. According to the release, the transformational changes introduced at Scorpio have significantly improved the financial viability of the business and achieved a marked turnaround on its previous performance. As a result, the Scorpio business is expected to generate a healthy year end profit.
The Evolution Mining Ltd (ASX: EVN) share price has climbed 5% to $2.80 thanks to investors taking flight to safe haven assets. The gold miners, Japanese yen, and Swiss franc have all benefited from the market meltdown in the U.S. overnight. However, with bond yields widening, I think the outlook for the gold price is increasingly bearish.
The Hansen Technologies Limited (ASX: HSN) share price is up almost 5% to $3.88. Today's gain appears to be attributable to a note out of Credit Suisse which revealed that the broker has upgraded the billing software provider's shares to an outperform rating with a $4.25 price target. The broker expects Hansen to achieve management's grow target range of between 4% and 8%.
The SKYCITY Entertainment Group Limited (ASX: SKC) share price has risen 1.5% to $3.77 following the release of a solid half-year result. According to the release, reported revenue came in at NZ$554.7 million for the first-half. This was a 4% increase compared to the prior corresponding period. Earnings before interest, tax, depreciation, and amortisation (EBITDA) came in 11.6% higher at NZ$180.6 million.
