In afternoon trade the S&P/ASX 200 index is on course to record yet another gain. At the time of writing the benchmark index is up 0.25% to 6,867 points.
Four shares that are climbing more than most today are listed below. Here’s why they are storming higher:
The ResApp Health Ltd (ASX: RAP) share price is up 5.5% to 28.5 cents following an update on its ResAppDx-EU product. ResAppDx-EU is a software application used by clinicians to diagnose the most common respiratory diseases. This morning the company announced a non-binding memorandum of understanding to integrate ResAppDx-EU into the Coviu browser-based telehealth platform. The Coviu telehealth platform is a spinout from CSIRO’s Data61.
The SKY Network Television Limited (ASX: SKT) share price is up 3% to 81 cents. This morning the New Zealand pay TV company confirmed TVNZ as its free-to-air partner for the Tokyo Olympic Games in 2020. Under the partnership, Sky will stream and broadcast all of the Tokyo 2020 action across 12 HD channels and its streaming platforms. TVNZ will have 12 hours of free-to-air coverage throughout each afternoon and evening.
The Telstra Corporation Ltd (ASX: TLS) share price has continued its positive run and is up 3.5% to $3.84. Investors have been buying the telco company’s shares after a number of brokers responded positively to its investor update on Wednesday. That update revealed that Telstra is on course to cut its costs by a total of $2.5 billion by FY 2022. It also revealed that it is on track to achieve its FY 2020 earnings guidance. This led to analysts at Goldman Sachs reiterating their conviction buy rating and $4.30 price target on its shares.
The Volpara Health Technologies Ltd (ASX: VHT) share price is up 3% to $1.85. This follows the release of favourable results from an eight-year DENSE breast screening trial published in the New England Journal of Medicine. Volpara’s founder and CEO, Dr Ralph Highnam, believes this will draw attention to ways of making breast screening more effective and is a significant milestone for both Volpara and women globally.
The post Why ResApp, SKY Network, Telstra, & Volpara shares 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 VOLPARA FPO NZ. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia has recommended VOLPARA FPO NZ. 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