Here’s why these 4 ASX shares are storming higher today


The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is not having the best day and is currently down by around 0.6% to 5,509 points.

But it hasn’t been a bad day for all shares on the market. Four shares which have been going against the grain today and pushing higher are as follows:

Automotive Holdings Group Ltd (ASX: AHG) shares are up a massive 7.5% to $4.64 following the announcement of changes in the C-suite at the leading car dealership. It was revealed that current long-time chief executive officer Bronte Howson will be retiring after 17 years in the top job, to be replaced by the highly experienced John McConnell from UK-based global automotive distributor and retailer Inchcape.

Automotive Holdings shares are now up by around 3% year-to-date.

Impedimed Limited (ASX: IPD) shares have climbed higher by around 6.8% to $1.64 following the global pre-order launch of its first product for the health and wellness market. SOZO is the first product on its new population health platform allowing consumers to track everything from their body composition, fluid status, and hydration levels through a variety of settings. I like the look of the product and look forward to hearing how pre-orders fare.

Impedimed shares have rocketed 38% higher in 2016.

Magellan Financial Group Ltd (ASX: MFG) shares jumped 5.8% to $25.62 after the fund manager released its full year results to the market. Although the performance of Magellan’s funds were largely mixed, average funds under management grew a staggering 27% to $39.4 billion. This helped the company deliver strong top and bottom line growth of 17% and 14%, respectively.

Magellan Financial Group’s share price is still down around 6% this year.

Nick Scali Limited (ASX: NCK) shares have rocketed over 14% to $5.49 following the release of the furniture retailer’s full year results. A hugely successful FY 2016 saw the company deliver a huge 53% increase in net profit after tax to $26.2 million. The market clearly was impressed with the result which beat its own previous full year net profit after tax guidance of $24 million to $26 million.

Nick Scali’s share price has risen a huge 26% so far in 2016.

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Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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.