The S&P/ASX 200 index is off its lows but is still trading notably lower on Tuesday afternoon. At the time of writing the benchmark index is down 1.35% to 6,884.8 points.
Four shares that have not let that hold them back today are listed below. Here's why they are storming higher:
The Appen Ltd (ASX: APX) share price has surged 8% higher to $25.71 after beating its upgraded FY 2019 guidance. Instead of EBITDA in the range of $96 million to $99 million, the artificial intelligence and machine learning company delivered a 42% increase in underlying EBITDA to $101 million. Pleasingly, management expects minimal impact from the coronavirus and has guided to underlying EBITDA in the range of $125 million to $130 million in FY 2020.
The Audinate Group Ltd (ASX: AD8) share price has bounced back from yesterday's selloff and is up 4% to $6.75. One broker that believes its recent share price weakness is a buying opportunity is UBS. This morning the broker retained its buy rating and trimmed the price target on its shares to $8.70. Although the company fell short of its expectations during the first half, it believes this is a temporary headwind caused by tariff issues.
The Jumbo Interactive Ltd (ASX: JIN) share price has stormed 4% higher to $12.17. This morning the lottery ticket seller announced a five-year software agreement with MS Queensland. It becomes the fourth charity lottery operator in 15 months to choose Jumbo's platform. Management believes this is another step towards its aim of delivering $1 billion of lottery tickets sales on its platform in 2022.
The oOh!Media Ltd (ASX: OML) share price is up 5% to $2.97. The catalyst for this appears to be a broker note out of the Macquarie equities desk this morning. According to the note, oOh!Media's full year results were in line with its expectations. And while the broker acknowledges that trading conditions remain tough, it believes it is well-positioned for growth once advertising markets recover.
