In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and has sunk into the red. At the time of writing the benchmark index is down a disappointing 0.3% to 6,059.8 points.
Four shares that have not let that hold them back are listed below. Here's why they have zoomed higher today:
The Beach Energy Ltd (ASX: BPT) share price has pushed 6% higher to $1.79 after the energy producer released an impressive half year result. During the first half of FY 2019 the company tripled its underlying half year net profit after tax to $278.8 million. Beach also upgraded production guidance for the full year from 25-27 MMboe to 28-29 MMboe.
The Northern Star Resources Ltd (ASX: NST) share price is up 6.5% to $9.55 following the release of its half year result. This morning the gold miner posted an underlying half year profit of $89.1 million on revenue of $633.5 million. This was an increase of 11% and 43%, respectively, on the prior corresponding period. Management also revealed that it was on track to achieve its full year production guidance.
The Virgin Australia Holdings Ltd (ASX: VAH) share price has jumped almost 8% higher to 21 cents after posting its strongest half year profit result in over a decade. In the first half the company posted group revenue of $3,071 million, which was an increase of 10% on the prior corresponding period and a record for the airline. Group underlying half year profit before tax increased 37.1% to $112.3 million. The impressive profit result was achieved despite $88.2 million fuel and foreign exchange headwinds.
The Xenith IP Group Ltd (ASX: XIP) share price has surged 18% higher to $1.66 after rival IPH Ltd (ASX: IPH) acquired 19.9% of its issued share capital. IPH also indicated in its announcement that it intends to participate in further industry consolidation and seeks discussions with Xenith about a potential transaction.
