April has been a strong month with a few surprises for the stock market. The S&P ASX 100 Index (ASX: ^XTO) was up 1.9% over the past month, hitting a new 52-week high of 4,620 on 29 April.
One surprise was the sudden takeover offer for David Jones Limited (ASX: DJS) by the South Africa-based Woolworths Holdings Limited (Johannesburg: WHL). It shot the department-store stock up to about $4 a share and it is still up 22% for the month.
Just when the market was contemplating what a merger between David Jones and rival Myer Holdings Ltd (ASX: MYR) would look like, a possible business shake-up for David Jones and a potentially stronger competitor for Myer is in store now.
Here are some of the other ASX 100 stocks that made gains of more than 10% in the past 30 days.
WorleyParsons Limited (ASX: WOR)
The engineering and professional services provider announced that it will be restructuring its business to reduce costs and improve margins. At $16.63, it is up about 11% for the month, recovering somewhat from a $15.00 low.
The mining pullback caused it to revise its earnings expectations and it was beaten down by the market. With changes on the way, this may be a turning point for the company.
Qantas Airways Limited (ASX: QAN)
The domestic flight service market leader is up about 16% in the last 30 days. It is in the process of restructuring and is planning to axe about 5,000 jobs to get its losses in order. It had an interim result of a loss of 8.3 cents per share.
It still controls about 80% of the corporate travel market, yet it wants more freedom with its international business to rationalise some costs.
ResMed Inc (ASX: RMD)
The producer of respiratory aid devices for breathing disorders raised its March quarter sales, and quarterly earnings per share were up around 9% on the previous corresponding period. The stock climbed about 12% in the last 30 days.
It is experiencing some headwinds in its US market where the government’s competitive bidding policy changes may cause downward pressure on what the company can charge for medical devices.
I would prefer ResMed with its long record of increasing earnings. Its first-half results were very encouraging as well.