The Motley Fool

4 stocks soaring on the ASX today

The S&P/ All Ordinaries Index (ASX: ^AORD) (ASX: XAO) is up 0.1% at 5,634 in mid-afternoon trading.

Weak leads from overseas markets on Friday, some large stocks going ex-dividend and some weak economic data appear to be weighing on the index.

Despite the index’s lacklustre performance, here are four stocks that are soaring today …

Structural Monitoring Systems plc (ASX: SMN) is up 16% at 54.5 cents. The company has developed a technology that can detect early stage metal fatigue, as is primarily focused on the aircraft market, but could also have applications for any large metal and fibre resin composite structures or products, including bridges, power generation systems and land and sea transportation systems. SMS released its full year report today, and while revenues are still small, a number of partnerships with airlines could prove fruitful in the years ahead.

Nanosonics Ltd (ASX: NAN) shares are up 11% at $1.01. The company develops products for disinfecting ultrasound probes and last week reported a 44% jump in operating revenue. As we mentioned in July, “this could be the start of something very exciting”. It’s fairly high risk, and has yet to report a profit. If that’s not your cup of tea, you might want to keep reading to the bottom of the article.

Unilife Corporation (ASX: UNS) has seen its shares climb 8.7% to 50 cents. Unilife develops injectable drug systems, and says it expects to release a number of new products this financial year. Last week Unilife reported a 436% increase in revenues for the 2014 financial year, although it still reported a loss. Unilife could be another stock you may want to add to your watchlist.

Clearview Wealth Ltd (ASX: CVW) shares have added 9.1% to 96 cents today. Clearview is an independent financial services company providing wealth management and life insurance services. Last week Clearview announced 23% growth in full year net profit to $19.7 million as well as a merger with independent financial adviser Matrix Holdings, for a cost of ~$20 million. That’s small change for Clearview, but adds further scale to its business.

NEW. The Motley Fool AU Releases Five Cheap and Good Stocks to Buy for 2020 and beyond!….

Our experts here at The Motley Fool Australia have just released a fantastic report, detailing 5 dirt cheap shares that you can buy in 2020.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading over 40% off it's high, all while offering a fully franked dividend yield over 3%...

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click here or the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!

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