In afternoon trade the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a strong finish to the week. At the time of writing the index is up 0.3% to 5,927.2 points.
Four shares that are climbing more than most today are listed below. Here's why they are ending the week on a high:
The iSelect Ltd (ASX: ISU) share price has rebounded slightly and pushed 6% higher to 50 cents today. The price comparison company's shares have been crushed this week after a trading update revealed a sizeable revision to its full-year earnings guidance. However, news that one of its directors has been buying shares on-market appears to have helped with investor sentiment.
The Nanosonics Ltd. (ASX: NAN) share price has stormed 10.5% higher to $2.50 after the infection control specialist revealed that its second generation trophon platform device has been granted clearance by the FDA. If all goes to plan, management expects the commercial release of the new trophon2 product in the USA will take place during the first quarter of the 2019 financial year. Nanosonics has been experiencing high levels of short interest lately, which I suspect could have led to a short squeeze today.
The Nextdc Ltd (ASX: NXT) share price is up over 2% to $6.79. The data centre operator's shares were given a boost today after global tech giants Amazon and Microsoft both reported surging revenues from their cloud hosting businesses. This could be interpreted as a sign that demand for NEXTDC's services is also booming. As I said earlier, I think it would be a great buy and hold investment option.
The ResMed Inc. (ASX: RMD) share price has climbed 2.5% higher to $12.97 after the release of its third-quarter results. According to the release, the sleep treatment company delivered an adjusted profit of US$132.5 million on revenues of US$591.6 million for the quarter ending March 31 2018. This was an increase of 32% and 15%, respectively, on the prior corresponding period. Like NEXTDC, I think ResMed would be another quality buy and hold investment.
