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Why these 4 ASX stocks are soaring today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has dropped around 0.5% in afternoon trade, but several companies have soared higher on the back of positive full year results or other news. Let’s take a look at some top performers and what might be behind the price movements.

Capitol Health Ltd (ASX: CAJ) has climbed 8% to 78 cents after reporting an underlying full year net profit before tax of $16.2 million on revenues of $111.2 million for financial year 2015. The tax-adjusted net profit was just $3.9 million, but investors are clearly looking to a future of more strong organic and acquisitive growth. The business is a diagnostic imaging medical centre operator and aggregator and appears to be in something of a growth sweet spot given the tailwinds of an ageing population and ever-increasing healthcare spends.

Alexium International Group Ltd (ASX: AJX) is a chemicals development company based in Perth that has climbed 7% to 84 cents today and 72% in 2015. The company now has a market value around $235 million and supplies fire retardant chemicals for use on fabrics and other textiles. Common industries supplied include upholstery, workwear, bedding, transportation and military equipment. The share price rise has coincided with a strong year of revenue and new client wins with potential for more on the horizon.

Greencross Limited (ASX: GXL) has jumped 14.4% in afternoon trade to close the day at $6.84. The stock got sold off recently on the back of a profit warning and market sentiment shifting against businesses that have aggregating business models. The stock also had some short interest around it and those holding short positions may have been forced to abandon them today in order to prevent further losses given that the share price now looks to have some positive momentum.

Magellan Financial Group Ltd (ASX: MFG) has jumped 4% in afternoon trade after the business more than doubled its net profit to $174.3 million on revenues of $284.9 million. That’s a healthy profit margin for a fund manager and on around 18x trailing earnings per share this well run business continues to look attractive value for long-term investors.

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Motley Fool contributor Tom Richardson owns shares of Magellan Financial Group.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.