It looks like investors may have been well behaved after all this year, with the Santa rally arriving today after the US Fed indicated it'll be a while yet before interest rates are lifted for the world's largest economy.
While low borrowing costs are good news for business, several ASX-listed companies have been rocketing higher on their own accord. So let's take a look at four of today's best performers.
Nearmap Ltd (ASX: NEA) is an aerial photography and geo-spatial mapping business which is profitable and growing strongly in Australia with growth ambitions in the US. Today it announced it's on track to meet its revenue run rate target of $30-$50 million by December 2015. It also expects revenue for the first half of FY15 to be between $11.3-$11.6 million, up 43-47% on the prior corresponding period. The stock has lifted more than 11% to 64.5 cents on the news.
TFS Corporation Limited (ASX: TFC) is a sandalwood growing business that has seen its shares jump around 5% to $1.49 in morning trade. The company is forecasting a net profit of around $70 million this financial year, yet has a total market capitalisation of only around $460 million.
Legendary Australian cricketer Adam Gilchrist is a significant shareholder (and ex-director) who in May 2014 bought nearly 100k's worth of shares at around $1.76 each, more than 17% above today's price. Gilchrist known for his exploits with the willow is reported to have a multi-million dollar holding in the company and investors everywhere have the opportunity to walk into bat with the big-hitting specialist.
Henderson Global plc (ASX:HGG) is a UK-based international equities fund manager benefiting from the big bounce in global markets over the last couple of days. Revenues are leveraged to the level of funds under management so rising markets are a natural tailwind for big global fund managers.
The stock is up nearly 5% today, although is still down more than 7% over the last six months after disappointing investors in August with a flat underlying profit of £90.7 million for the first half of 2014.
Freelancer Ltd (ASX: FLN) has jumped 2.5 cents or more than 4.5% today, but like Henderson has disappointed investors over the course of 2014. The stock has more than halved in value this year as the revenue and user growth has perhaps not been as prolific as initially hoped.
Freelancer is a much trumpeted online marketplace for employers and freelance workers to do business in more than 247 countries worldwide. If the future really is an outsourced and online world for much of the employment service sector then Freelancer may be onto something big. The business floated back in November 2013 at 50 cents per share and selling for 57.5 cents today with a market capitalisation around $460 million is probably at a realistic valuation.
