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Why Appen, Pro Medicus, SRG Global, & Wagners are storming higher

James Mickleboro
share price up

It has been a mixed day of trade for the S&P/ASX 200 index on Tuesday. In afternoon trade the benchmark index is trading ever so slightly higher at 6,851.9 points.

Four shares that have climbed more than most today are listed below. Here’s why they are storming higher:

The Appen Ltd (ASX: APX) share price has climbed 4% to $24.54. Appen’s shares have been strong performers this week despite there being no news out of the content relevance provider. However, some investors may believe that recent share price weakness is a buying opportunity. Especially given its recent guidance upgrade.

The Pro Medicus Limited (ASX: PME) share price is up over 4.5% to $23.44. On Monday the healthcare technology company provided an RSNA update. CEO Sam Hupert reiterated that the company is trading comfortably ahead of its target year to date. Pleasingly, the chief executive said “there is nothing to indicate that this trend won’t be sustained.”

The SRG Global Ltd (ASX: SRG) share price is up 4% to 41.5 cents despite there being no news out of it. But as I wrote here yesterday, Commonwealth Bank of Australia (ASX: CBA) has been buying the shares of the engineering-led specialist construction, maintenance and mining services company recently. The banking giant has lifted its interest in SRG Global from 7.43% to 8.48% through the purchase of over 5 million shares earlier this month.

The Wagners Holding Company Ltd (ASX: WGN) share price has risen a sizeable 7% to $2.45. This strong gains appears to be in response to a major contract win that was announced on Monday. The contract is for the supply of precast concrete tunnel segments for the Brisbane Cross River Rail project’s Tunnel and Stations Works package. Tunnelling works are planned to commence in FY 2021. Management estimates the contract to be worth $40 million.

The post Why Appen, Pro Medicus, SRG Global, & Wagners are storming higher appeared first on Motley Fool Australia.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Pro Medicus 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.

The Motley Fool's purpose is to help the world invest, better. Click here now for your free subscription to Take Stock, The Motley Fool's free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson. 2019