The news that Bubs had found a way to enter the notoriously difficult American market was well received by A2 investors, who bid the stock up 10.2 per cent to $5.17.
Both Fonterra and A2 Milk have also applied to the US Food and Drug Administration for approval to supply infant formula to the nation, which has eased its onerous rules and regulations to allow more formula to be imported.
If A2 Milk were able to establish itself in the US market, it would be a boon for the company, which had its export route to China collapse during the pandemic.
Milk processing companies saw a less impressive share price bump, with Synlait Milk up just 0.9 per cent at $3.43 and Fonterra Shareholder Fund Units unchanged at $2.85.
Fonterra today acknowledged "concern about the decline" in its farmer-only share price over recent weeks and said it will more actively support liquidity.
At Friday's closing price of $2.28, the shares were collectively worth just half of the $7.4b they were worth the day before the co-operative announced its capital restructuring.
Cinema software company, Vista Group International rose 6 per cent to $1.63 having upgraded an existing client in Latin America to its new Vista Cloud platform.
This client will become Vista's largest once the agreement is fully rolled out. The company wants to move 35 per cent of its customers to Vista Cloud by 2025.
Fisher & Paykel Healthcare climbed 3.3 per cent to $20.15, with investors still playing tug of war over its appropriate valuation post-Covid, and Pacific Edge dropped 10.4 per cent to 69 cents.
The cancer testing company reported somewhat softer-than-hoped results last week and investors are losing interest in buying growth stocks that aren't delivering on targets.
Import-export software provider Trade Window dropped 8.2 per cent to $1.12 after it said it will need to raise $10m of new capital by September to fund its fast-growth strategy.
The company, which is essentially a listed startup company, gave its first full-year report since listing in November. Its trading revenue has grown 136 per cent to $3.9m but it posted a $10.8m net loss with operational expenses up 76 per cent at $14.4m.
Arvida Group dropped 1.3 per cent to $1.57 despite lifting net profit by 52 per cent, helped by its $345m Arena acquisition performing better than expected.
Radius Residential Care rose 2.8 per cent to 37 cents, having reported total income up 7.8 per cent at $135.9m and net profit up 57 per cent at $2.7m.
The NZ dollar was trading at 65.49 US cents at 3pm in Wellington, up from 65.04 cents on Friday. The trade-weighted index was at 72.57, up from 72.34.
