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4 stocks soaring more than 8% on the ASX today

The S&P/ All Ordinaries Index (ASX: ^AORD) (ASX: XAO) is trading flat in late afternoon trading on the last major reporting day of the season, and perhaps surprisingly, fairly flat over the last month.

That’s despite most of the ASX-listed companies reporting either year-end or their first-half results during that time.

Here are four stocks that are soaring today and their respective monthly results…

Transfield Services Limited (ASX: TSE) has seen its shares explode upwards by more than 20% to $1.72, after the company delivered an 85% rise in underlying net profit. My colleague Tim McArthur has covered the results in more detail here. Over the past month Transfield shares have risen 29%.

Cassini Resources Ltd (ASX: CZI) shares are up 11% today, and 20% for the month. Back in April this year, shares in the tiny resources explorer surged 389% in one day, after the company acquired BHP Billiton Limited’s (ASX: BHP) West Musgrave nickel and copper project. We covered the acquisition in more detail here.

Clinuvel Pharmaceuticals Limited (ASX: CUV) shares have soared close to 10% today, and 26% for the month. In early August, Clinuvel fended off an approach from NASDAQ-listed Retrophin, Inc, saying at the time, the $2.17 cash offer materially undervalues Clinuvel. Clinuvel is awaiting a decision by the European Medicines Agency (EMA) on its product SCENESSE, expected in October, and positive news appears to be expected at least by some investors.

Panoramic Resources Limited (ASX: PAN), a $268 million market cap nickel producer has an 8.8% jump in its share price today, although shares are still down 20% for the month. Earlier this week, Panoramic unveiled a 167% increase in earnings before interest, tax, depreciation and amortisation (EBITDA) to $73.3 million for the 2014 financial year. The company also declared a 2 cents per share fully franked dividend. Panoramic has paid a dividend every year since 2007 – a rarity among small to medium resource stocks.

These stocks could produce big returns yet, but they are pretty risky and there are other ways to grow your wealth. Like buying our favourite dividend-paying stock on an attractive valuation. It currently yields around 6.7% when grossed-up for franking credits. This is one worth knowing about before the rest of the market catches up!

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

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