It certainly has been a disappointing day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the benchmark index is down a sizeable 0.4% to 6,158.7 points.
Four shares that have not let that hold them back today are listed below. Here's why they have surged higher:
The Altium Limited (ASX: ALU) share price has pushed 2.5% higher to $34.40 despite there being no news out of the design software company. However, on Tuesday the Altium share price tumbled around 2% lower. Some investors appear to believe that this small decline created a buying opportunity and have been snapping up shares today.
The Corporate Travel Management Ltd (ASX: CTD) share price has pushed 5% higher to $25.54 following the release of an investor update this morning. According to the release, the corporate travel specialist is tracking towards the top end of its full year underlying EBITDA guidance. It expects to achieve EBITDA of $150 million in Fy 2019, up 20% on the prior corresponding period.
The LiveTiles Ltd (ASX: LVT) share price has zoomed 10% higher to 49.5 cents after the intelligent workplace software provider announced a strategic partnership with Canadian artificial intelligence company Testfire Labs. The partnership will see the launch of the LiveTiles Intelligent Meeting Suite. This is a world first artificial intelligence meeting solution that management believes will revolutionise meetings and collaboration in the workplace.
The McMillan Shakespeare Limited (ASX: MMS) share price is 2.5% higher to $13.07 after it suggested that it would be impossible to complete its proposed merger with industry peer Eclipx Group Ltd (ASX: ECX). It said: "despite every effort having been made by McMillan Shakespeare to understand the issues facing Eclipx, we do not believe it will be possible to complete the proposed scheme." The market appears to believe McMillan Shakespeare would be better off without the struggling Eclipx.
