Why these 4 ASX shares are smashing the market today

A collapse in the oil price hasn't been enough to stop these four shares today.

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The S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) opened sharply lower today on the back of weakness in the energy sector but has managed to erase away some its losses midway though today's session.

At the time of writing the main index was trading at 5139 points, down 0.34% for the day.

Four stocks that are outperforming the market today, however, include:

Transurban Group (ASX: TCL)

Shares of the toll operator are enjoying another day of solid gains, rising 2.6% to $11.58. Today's positive move comes on the back of a strong quarterly traffic and revenue report that showed March quarterly revenue increased 13% to $451 million. A 5.2% increase in average daily traffic in Sydney combined with higher toll rates across a range of its roads underpinned its latest quarter, which offset the negative timing impact of the Easter holiday period this year. Transurban shares have gained 18.3% over the last 12 months.

Freelancer Ltd (ASX: FLN)

Investors are cheering Freelancer's first quarter results with the shares rising nearly 3% today. The company is now starting to deliver on its huge growth potential with cash receipts increasing by 60% to $12.8 million in the first quarter. Importantly, the company is cash flow positive and has a cash balance in excess of $33 million which means the company should not require fresh capital anytime soon. Investors should note, however, Freelancer's market capitalisation is now in excess of $715 million and the market will demand continued high levels of growth to justify the current valuation. Shares of Freelancer have gained nearly 59% over the past 12 months.

Yowie Group Ltd (ASX: YOW)

Yowie is one of the best performing small cap stocks today with its shares gaining 10.5% to trade at 66.5 cents. Today's sharp rise comes after the company announced that production of its new Angry Birds chocolate has been successful and that it remains on schedule to distribute the new chocolates in time for the upcoming release of the Angry Birds movie in May. This will be a welcome relief for Yowie shareholders who have witnessed a steep decline in its share price after hitting a 52-week high of $1.33 in August 2015.

Capitol Health Ltd (ASX: CAJ)

Shares of Capitol Health have gained another 11% today, taking its gains over the last five trading days to nearly 80%. The company has not released any market sensitive news in that time except for a response to the ASX after it received a 'speeding ticket' mid way through last week. In late March however, Capitol Health did provide an update to the market that revealed referral volumes had stabilised and trading in the second half was showing signs of improvement. This could have been a buy signal to some investors after the shares had earlier been hammered all the way down from 98 cents to 11.5 cents earlier this month. Capitol Health shares now trade at 21.5 cents, down 77% over the past 12 months.

Motley Fool contributor Christopher Georges owns shares in Capitol Health. The Motley Fool Australia has no position in any of the stocks mentioned. 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 Bruce Jackson.

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