Below are four stocks that are rising faster than most today. Here’s why they push higher:
The price of Dicker Data stock is up 5% to $ 8.89 following the release of the update for the third quarter. According to the press release, the computer hardware and software distributor achieved revenue growth of 14.9% to $ 1,481.5 million in the nine months ended September 30th. The bottom line was that things went even better: Net income before tax rose 28.3% to $ 60.8 million for the nine months.
The South32 share price climbs nearly 4% to $ 2.19. This follows the release of the mining giant’s update for the first quarter. South32 delivered production in line with expectations, which resulted in management reaffirming its guidance for the full year. In addition, the company’s strong operational performance and financial position has allowed the company to resume its share buyback program.
The price of Tyro stock is up 3.5% to $ 4.30 following the release of the weekly COVID-19 trading update. This update found that Tyro processed transactions valued at $ 1.025 billion in the last month. This is an increase of 11% over the previous corresponding period. Additionally, Ord Minnett maintained its cumulative rating this morning and raised its price target on Tyro stocks to $ 5.00.
Uniti’s stock price is up over 2% to $ 1.27 after the update in the first quarter. The telecommunications company reported a record net cash flow of $ 10.5 million for the quarter. Management also noted that key financial performance metrics for the first three months of fiscal 2021 are above budgeted levels. This includes above budget growth in new FTTP connections and activations.
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Returns from October 6, 2020
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