Why Data#3, Maca, Pact Group, & THC Global shares are storming higher

The Pact Group Holdings Ltd (ASX:PGH) share price and the THC Global Group Ltd (ASX:THC) share price are two of four storming higher on Tuesday…

| 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 has run out of steam on Tuesday and looks set to end its winning run. In afternoon trade the benchmark index is down 0.5% to 7,045.4 points.

Four shares that have not let that hold them back today are listed below. Here's why they are storming higher:

The Data#3 Limited (ASX: DTL) share price has jumped 7.5% to $4.34. This morning the technology solutions company provided an update on its expectations for the first half. Data#3 revealed that it expects to report consolidated net profit before tax (NPBT) at the top end of its guidance range of $11 million and $12.5 million. This compares to the $9 million it achieved in the prior corresponding period.

The Maca Ltd (ASX: MLD) share price is up 2% to 99.5 cents. This morning the mining and civil services company advised that it will cease operations in Brazil this month. This follows the early termination of the contract at Antas for Oz Minerals Limited (ASX: OZL). This news was offset by several new project awards. One is a $9.5 million construction contract by VicRoads for the Bacchus Marsh Road Stage 2A Safety Improvements.

The Pact Group Holdings Ltd (ASX: PGH) share price has risen 3.5% to $2.78. Investors have been buying the packaging company's shares in response to news that it is planning to divest its Contract Manufacturing division. Management believes this will simplify its business, generate stronger returns for shareholders, and strengthen its balance sheet.

The THC Global Group Ltd (ASX: THC) share price has rocketed almost 12% to 43 cents. The cannabis company's shares have raced higher after it announced that the Australian Therapeutic Goods Administration has granted it a licence to manufacture therapeutic goods from its Southport Facility. Management revealed that it will now seek to complete negotiations for the export supply of cannabis medicines.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Data#3 Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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 »