Here's why these 4 top ASX stocks are soaring today

Domino's Pizza Enterprises Ltd. (ASX:DMP) has risen an astonishing 22%, with Slater & Gordon Limited (ASX:SGH), Skilled Group Limited (ASX:SKE) and Genworth Mortgage Insurance Australia (ASX:GMA) following hot in pursuit.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Australian sharemarket is trading lower this morning, marking its third consecutive day in the red, despite strong international equity performances overnight.

While the S&P 500, Dow Jones and NASDAQ indices all rose between 0.8% and 1.3% on strong earnings reports and hopes that a deal would be struck to avoid a Greek debt default, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has drifted 0.4% lower to be sitting around 5,780 points.

Although the market itself has lost ground; a number of popular Australian stocks are surging higher. Here's why…

Domino's Pizza Enterprises Ltd. (ASX: DMP) has rallied nearly 22% to be trading at $33.34 after it delivered an almost flawless half-year earnings report this morning. The company recorded a 44.2% leap in net profit, complemented by a 29.5% lift in revenue, while it also increased its interim dividend by 39% to 24.6 cents per share. Although the stock commands a rather lofty premium, it appears to be going from strength to strength as it continues to expand internationally.

Slater & Gordon Limited (ASX: SGH) has risen another 4.9% today to be trading at $7.53, adding to the 8.6% gain it recorded on Tuesday. The legal firm released its profit results for the six months ending 31 December 2014 yesterday, which not only revealed a 46.5% and 37.6% increase in net profit and revenues respectively, but also confirmed the company's strong growth prospects in the UK market.

Skilled Group Limited (ASX: SKE) shares climbed as much as 13.4% to trade at $1.65 before retreating slightly to $1.565 – which is still a 7.6% gain for the day. The company, which provides staffing solutions to the public and private sectors, reported a 10.6% increase in sales revenue and a 12.3% increase in earnings before interest, tax, depreciation and amortisation (EBITDA). Meanwhile, it said it would continue to cut costs and improve efficiencies with a total of $15 million in savings expected for the year.

Genworth Mortgage Insurance Australia (ASX: GMA) rose 9.1% after the company presented its full-year results where it reported a 16.5% increase in underlying net profit after tax (NPAT) to $279.4 million. Meanwhile, net earned premium was $445.8 million for the year which beat the company's own guidance of between $440-445 million. The stock is now sitting at a record high of $4.30 having risen nearly 50% since it floated on the ASX in May last year.

Motley Fool contributor Ryan Newman does not own shares in any of the companies mentioned. You can follow Ryan on Twitter @ASXvalueinvest.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »