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4 ASX stocks soaring today

The All Ordinaries (Index: ^AORD) (ASX: XAO) has slipped 0.3% in early afternoon trading, but these four stocks are going against the trend and thrashing the market.

Could there be more to come?

Let’s take a closer look at the four stocks…

Orora Ltd (ASX: ORA) has soared 8.8%, after the packaging company reported a 44.8% increase in net profit to $104.4 million for the 2014 financial year, beating analyst expectations. Orora was spun out of packaging giant Amcor Limited (ASX: AMC) in December 2014. The company’s chief executive Nigel Garrard says the company is looking for acquisitions to drive further growth, “Bolt-ons will be part of our strategy,” he said.

Azure Healthcare Ltd (ASX: AZV) has jumped more than 11%, and is up 16.9% since last week. It appears that investors have finally digested the company’s upbeat full year report released last week. Azure reported a 300% jump in earnings per share, as demand for its hospital monitoring systems rises. More gains could be on the way, but investors might have to get in quick – as the company has already received one takeover offer.

Patties Foods Limited’s (ASX: PFL) shares are up 9.1% to $1.32. The maker of pies and savoury treats including the iconic Four’N Twenty meat pies and Nanna’s desserts reported a 2% fall in underlying net profit to $16.7 million, on flat sales growth. Patties says the second half of the year was strong, up 5% versus the previous year and remains committed to driving earnings growth. Unfortunately, the company’s major customers include Coles and Woolworths Limited (ASX: WOW) which may view Patties’ result as an opportunity to drive further cost cuts from the supplier.

Carnarvon Petroleum Limited (ASX: CVN) continues its gains, rising 14% today, and shares are up 206% in the past two weeks. As we mentioned last week, Carnarvon appears to have found a substantial oil discovery, which could pay big dividends to shareholders. Shares in the company are still less than half the price they were in 2011, but the outlook appears much better today.

If you’re after dividends, plus growth and a cheap price, you can’t go past this stock, which has been named our top dividend stock of 2014-15.

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Motley Fool writer/analyst Mike King owns shares in Woolworths. You can follow Mike on Twitter @TMFKinga