4 more stocks zooming higher on the ASX today

The S&P/ASX 200 closes down 2.2%, but these four shares jumped more than 3%

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has had a horror day – as expected – closing down 2.2% at 5,219.6 points. 19 of the top 20 stocks fell into the red – some by as much as 5%.

Every sector ended in the red, with the S&P/ASX All Ords Gold (Index: ^AXGD) (ASX: XGD) down 3.9% as gold miners were hammered. Resources stocks weren't too far behind, with the S&P/ASX 300 Metal and Mining (Index: ^AXMM) (ASX: XMM) sinking 3.7%.

However, despite appearances, some stocks still managed to post positive gains. Here's four of them…

Metro Performance Glass Ltd (ASX: MPP) soared 6.3% to $2.12, despite no announcements from the company today. Metro Performance is a New Zealand-based company supplying customised glass products across the country. The company recently announced the acquisition of Australian Glass Group for A$43 million which will add around A$45 million in sales and earnings before interest, tax, depreciation and amortisation (EBITDA) of A$8 million annually. Looks like some Australian investors are starting to take notice.

Gtn Ltd (ASX: GTN) gained 6.1% to $3.13. The company offers customers an advertising platform via traffic reports delivered to radio stations and is a fairly recent IPO. Formerly called Global Traffic Network, the company recently reported an 8% increase in pro forma revenues to $166.1 million and a 50% increase in earnings per share compared to FY2015. The company also reaffirmed its prospectus forecasts for FY2017 – with earnings expected to soar once again. One for further research I think.

APN Property Group Ltd. (ASX: APD) share price rose 4.4% to 60 cents. The real estate investment manager has been speculated to be involved in a potential deal to own the underlying property of Puma Energy's Australian petrol stations recently – indicating the specialist nature of the property group. The group now has 13 different funds holding 45 properties, but shares look unattractive based on a premium price to net tangible assets, a high P/E ratio and a distribution yield of just 2.9%.

zipMoney Ltd (ASX: ZML) saw its share price jump 3.6% to 72.5 cents and the share price has now doubled since February. zipMoney is a payments provider also offering a "buy it now, pay later" service and says it has more than 50,000 customers and ~2,000 merchant locations. The company recently announced the acquisition of Pocketbook – a personal financial management app with over 250,000 users, which some investors obviously appear to consider a very smart acquisition.

 

Motley Fool writer/analyst Mike King doesn't own shares in any companies mentioned. You can follow Mike on Twitter @TMFKinga 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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