Why these 3 ASX stocks jumped today

The S&P/ASX 200 index (Index: ^AXJO) (ASX: XJO) has closed up 0.4%, to 4,359.4, shrugging off weak leads from Wall Street. Banks, healthcare and property stocks helped the market up, while miners were hammered, as the iron ore price fell overnight again.

These three stocks showed the market a clean pair of heels today.

Aristocrat Leisure Limited’s (ASX: ALL) shares jumped by more than 7.7%, after the company posted a better than expected 40% jump in first half net profit to $35 million. Aristocrat also increased its dividend from 2.5 cents to 4 cents, while reducing its net debt by 24%. New and better performing games and products drove revenues higher by 28%. The company has changed its financial year end, and expects its full year profit to the end of September 2012 to be between $85 to $90 million.

Media and mining equipment company, Seven Group Holdings Limited (ASX: SVW) shares rose 6% to close at $8.05, after the company doubled full year net profit to $166 million, up from $70 million in the last year. Seven owns the WesTrac Australia business, which holds an exclusive licence to supply Caterpillar products throughout Western Australia, NSW and the ACT, as well as parts of China. It also holds a 32.5% stake in Seven West Media, a 25% stake in Consolidated Media Holdings and a 45% holding in Coates Hire. WesTrac sales jumped 82%, fuelled by the increase in iron ore and coal mining.

OneSteel – sorry, Arrium Limited (ASX: ARI) saw its shares rise 4.6% to close at 79.5 cents, still a long way off its highs of over $7.00 back in 2008. Arrium is in the process of transforming itself into an iron ore miner, and if its plans proceed on track and the stars align, the company is set to become one of Australia’s largest iron ore miners, behind BHP Billiton, Rio Tinto and Fortescue Metals Group.

If you’re in the market for some high yielding ASX shares, look no further than our “Secure Your Future with 3 Rock-Solid Dividend Stocks” report. In this free report, we’ve put together our best ideas for investors who are looking for solid companies with high dividends and good growth potential. Click here now to find out the names of our three favourite income ideas. But hurry – the report is free for only a limited time.

More reading

Motley Fool writer/analyst Mike King doesn’t own shares in any company mentioned. The Motley Fool’s purpose is to help the world invest, better. Take Stock is The Motley Fool’s free investing newsletter. Packed with stock ideas and investing advice, it is essential reading for anyone looking to build and grow their wealth in the years ahead. Click here now to request your free subscription, whilst it’s still available. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.