It has been another disappointing day of trade for the S&P/ASX 200 index. At the time of writing the benchmark index is on course to finish the day deep in the red and is down 0.5% to 6,326.6 points.
Four shares that have not let that hold them back are listed below. Here's why they have surged higher:
The Bubs Australia Ltd (ASX: BUB) share price has climbed a further 7.5% higher to $1.25. This morning the goat milk infant formula company released its third quarter update and revealed a 103% increase in gross revenue to $11.3 million. A key driver of this growth was its Bubs goat milk infant formula products. Gross sales increased 302% on the prior corresponding period, representing 41% of its third quarter revenue.
The iSignthis Ltd (ASX: ISX) share price has jumped 7% to 38 cents after the wholesale neobank released its first quarter update. During the first quarter the company posted a 56% quarter on quarter increase in revenue to $1.85 million. Management also provided an FY 2019 EBIT target of $10.7 million.
The Super Retail Group Ltd (ASX: SUL) share price has stormed over 5% higher to $8.82 after the retail group released a trading update ahead of its appearance at the Macquarie Group Ltd (ASX: MQG) Australia Conference. Super Retail's update revealed that it has continued to deliver strong like for like sales growth across all brands during the second half of FY 2019.
The Zip Co Ltd (ASX: Z1P) share price has surged 5.5% higher to $3.05 a day after the release of its third quarter update. One broker that liked what it saw was Morgans. According to a note out of the broker this morning, it was impressed enough to retain its add rating and lift its price target on the payment company's shares from $1.89 all the way up to $3.19.
