4 stocks surging on the ASX today

S&P/ASX 200 sinks but these 4 are powering ahead

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It looked like the S&P/ASX 200 (Index: ^AXJO (ASX: XJO) was headed for 6,000 earlier in the day, but the index has seen a rapid descent, and is down 0.2% heading into the close.

These four stocks look headed for a strong gain today…

SMS Management & Technology Limited (ASX: SMX) shares are up 13.6% at $4.05, after posting a strong gain in net profit for the six months to December 2014. We cover the results for the IT consulting firm in more detail here.

Matrix Composites & Engineering Limited (ASX: MCE) shares are up 12.4% at 77 cents after it too posted a strong performance for the six months to December 2014. Net profit rose 567% to $3.9 million and the company declared a 2 cents per share dividend. But the falling oil price may dampen the future, as the company notes. You can read more on the result here.

Codan Limited (ASX: CDA) is up 10.5% at 95 cents, after the metal detector and radio communications group posted a 17% increase in net profit for the half year to December 2014. Metal detection revenues continue to fall, and it was the jump in communications product sales mostly responsible for lifting net profit.

Travel agent Helloworld Ltd (ASX: HLO) has seen its shares jump 28.8% to 38 cents. Today the company informed the market that investment bank UBS had sold 31 million shares (7% of issued capital) to an existing substantial shareholder, Sintack, for 39 cents per share. That price was a 41% premium to the volume weighted average price over the past five days. Sintack now holds 19.3% of shares in Helloworld. Qantas Airways Limited (ASX: QAN) is still the largest shareholder with 29% of the shares.

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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