Mesoblast limited (ASX:MSB) and Regis Healthcare Ltd (ASX:REG) shares are two of four charging notably higher on Friday. Here’s why…
The post Why Accent, Mesoblast, Redbubble, & Regis Healthcare shares are charging higher appeared first on Motley Fool Australia. –
In afternoon trade the S&P/ASX 200 Index (ASX: XJO) is on course to end the week on a positive note. At the time of writing, the benchmark index is up slightly to 6,550.9 points.
Four shares that are climbing more than most today are listed below. Here’s why they are charging higher:
Accent Group Ltd (ASX: AX1)
The Accent share price has climbed 5% to $1.87. This follows the release of a trading update at its annual general meeting. That update revealed that the footwear retailer’s sales were well ahead of expectations during the first 20 weeks of FY 2021. Accent revealed that like for like sales are up 15.7% over the period excluding its Auckland and Victorian stores.
Mesoblast limited (ASX: MSB)
The Mesoblast share price has rocketed 14% higher to $3.73 after announcing a major deal with pharma giant Novartis. The biotech company has signed an exclusive worldwide license and collaboration agreement with Novartis for the development, manufacture, and commercialisation of its mesenchymal stromal cell (MSC) product remestemcel-L. Novartis will make a US$50 million upfront payment and could then pay over US$1.25 billion in milestones to Mesoblast.
Redbubble Ltd (ASX: RBL)
The Redbubble share price has jumped over 7.5% higher to $4.89 after the ecommerce company named its new CEO. Redbubble has appointed former SEEK Limited (ASX: SEK) executive, Michael Ilczynski, as its new chief executive. Mr Ilczynski, who was formerly the CEO of SEEK Asia Pacific and Americas, will replace interim CEO, Martin Hosking, on 27 January 2021.
Regis Healthcare Ltd (ASX: REG)
The Regis Healthcare share price has surged 22% higher to $1.80. This follows the receipt of a takeover approach by investment house Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) on Thursday. Washington H. Soul Pattinson tabled an offer of $1.85 per share, which has since being rejected by the aged care operator.
Where to invest $1,000 right now
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
- Why Kogan, Oil Search, Orica, & Soul Pattinson shares are dropping lower
- Takeover battle for Regis (ASX:REG) share price triggers sector-wide upgrade
- ASX 200 up 0.1%: CBA’s APRA update, Mesoblast rockets, Oil Search sinks
- Here’s why the Regis (ASX:REG) share price has soared by 21% today
- Mesoblast (ASX:MSB) share price rockets higher on major Novartis agreement
Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia owns shares of and has recommended Washington H. Soul Pattinson and Company Limited. The Motley Fool Australia has recommended Accent Group and SEEK Limited. 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 post Why Accent, Mesoblast, Redbubble, & Regis Healthcare shares are charging higher appeared first on Motley Fool Australia.