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

As we approach the market close the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has retraced most of its earlier declines and is looking like it might finish flat for the day at 5,532 points.

Despite the index spending most of the day in the red, there’s been a number of shares posting strong gains today. Here’s why these four shares are higher today:

Crown Resorts Ltd (ASX: CWN) shares are up 5% to $13.92 following the release of the casino operator’s full year results. Although normalised profit was down 23% on last year, this was in-line with analysts’ expectations and appears to have pleased the market. Once again the Macau side of the business was a drag on results, but all that could change if the company’s plan to split into three separate entities goes ahead.

Crown Resorts’ share price has now climbed 11% in 2016.

Domino’s Pizza Enterprises Ltd. (ASX: DMP) shares have bounced back from yesterday’s decline with an 8% jump to $79.99. The market appeared to be disappointed with the pizza maker’s results yesterday, despite it posting a 32.7% increase in sales to $1.96 billion and a massive 43.6% increase in underlying profits to $92 million. One broker that certainly wasn’t disappointed was Bell Potter. It saw enough in the results to increase its price target on Domino’s shares from $66.50 to $85.00, according to a research note released yesterday.

Domino’s shares have now risen 35% so far in 2016.

RXP Services Ltd (ASX: RXP) shares have climbed 7% to 77 cents following the release of strong full year earnings. The technology consulting services company posted sales growth of 61% to $127.1 million, with earnings per share growing by an incredible 127% to 7.6 cents. With such a strong result it’s not at all surprising to see its share price rally today. Especially when you consider that a year ago management provided full year guidance of “revenue in excess of $105 million.”

RXP Services’ share price has jumped 35% in the last three months.

Sonic Healthcare Limited (ASX: SHL) shares are another to bolt higher thanks to great full year results. The share price of the pathology and diagnostic imaging provider is up almost 7% to $23.60 after announcing a 30% rise in net profit after tax to $451 million. Management painted a promising picture for the year ahead. Excluding the impacts of acquisitions and regulatory reform, they expect the company to grow profits by 5% in FY 2017.

Sonic Healthcare shares are now up 31% 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.

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