Why Bubs, Costa, Flexigroup, & SEEK shares surged higher today

The Costa Group Holdings Ltd (ASX:CGC) share price and The SEEK Limited (ASX:SEK) share price are two of four surging notably higher on Wednesday. Here's why…

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to bounce back from yesterday's decline. In afternoon trade the benchmark index is up 0.25% to 6,144 points.

Four shares that are climbing more than most today are listed below. Here's why they have surged higher:

The Bubs Australia Ltd (ASX: BUB) share price has jumped over 5% higher to 59.5 cents after the goat milk infant formula company announced that it has entered into a long-term strategic supply partnership with Bega Cheese Ltd (ASX: BGA) subsidiary Tatura Milk Industries. The agreement will see Tatura convert fresh goat milk directly from farm gate into infant formula nutritional base in one step.

The Costa Group Holdings Ltd (ASX: CGC) share price is up 5% to $5.45 following the release of the horticulture company's results for the six months ended December 30. Although it reported a sharp decline in profits compared to the prior corresponding period, the market has responded positively to news that trading conditions have improved significantly since its last update. In addition to this, management reaffirmed its calendar year 2019 guidance for 30% profit growth.

The FlexiGroup Limited (ASX: FXL) share price has rocketed over 18% higher to $1.55 a day after the release of its half year results. The catalyst for this gain could have been a broker note out of Deutsche Bank this morning. According to the note, the broker has upgraded its shares to a buy rating with a $1.80 price target largely on valuation grounds and potential upside from new initiatives.

The SEEK Limited (ASX: SEK) share price has stormed 6% higher to $18.44 after the release of a better than expected first half result from the job listings company. During the first half SEEK delivered revenue growth of 21% to $757.2 million and EBITDA growth of 6% to $238.5 million. According to a note out of Goldman Sachs, its analysts had predicted EBITDA of $225 million in the first half.

No tickers found. You need to add tickers and save as draft before fetching disclosure

More on Share Gainers

A couple sits on a sofa, each clutching their heads in horror and disbelief, while looking at a laptop screen.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a rough Friday to close the trading week today.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Pointsbet, Qantas, Serko, and Yandal shares are pushing higher today

These shares are avoiding the market selloff today. But why?

Read more »

A happy young couple lie on a wooden deck using a skateboard for a pillow.
Share Gainers

These were the best performing ASX 200 shares in October

Did you own the best performers on the index last month? Here they are.

Read more »

The silhouettes of ten people holding hands with their arms raised against the sky, as the sun rises or sets in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX investors copped another rough session this Thursday.

Read more »

two men in hard hats and high visibility jackets look together at a laptop screen that one of the men in holding at a mine site.
Resources Shares

Mineral Resources share price rockets 16% on $1.1 billion news!

ASX 200 investors appear thrilled with Mineral Resources' latest news.

Read more »

Shot of a young businesswoman looking stressed out while working in an office.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing Wednesday session for ASX investors today...

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors enjoyed anther positive session this Tuesday.

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Firefly, Premier Investments, Serko, and Zip shares are roaring higher today

These shares are catching the eye with strong gains on Tuesday. But why are they rising?

Read more »