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4 stocks rocketing higher on the ASX today

The S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) ended up just 0.3% at the close, as strong performances from the large financial stocks overcame the drag from a number of large-cap oil & gas drillers, miners and insurers.

These four stocks managed to power higher, gaining more than 6%…

GBST Holdings Limited’s (ASX: GBT) share price climbed 8.6% to $4.70. The provider of financial software for the wealth management and capital markets recently saw international sales of its products overtake those from Australia. Over the past five years, GBST has produced a phenomenal performance. In the last year alone, net profit surged 52%, with revenues, cash earnings and dividends all increasing. Temporary delays in a number of major client projects saw the share price hammered down but is now recovering.

ERM Power Ltd (ASX: EPW) saw its share price gain 7.2% to $1.55. Australia’s second-largest electricity retailer to commercial and industrial clients, ERM announced today that it had signed an offtake agreement with Sunset Power, which could see it benefit by $60 million in future years, and reduce its dependence on the wholesale electricity market.

IPH Ltd (ASX: IPH) share price rose 6.7% to $7.78, thanks to a profit upgrade at today’s AGM. The patents and trademarks company said it expects to report earnings before interest, tax, depreciation and amortisation (EBITDA) of around $33 million for the six months to end of December 2014. That’s higher than the company made in the whole 2014 financial year, suggesting IPH is growing strongly.

Adairs Ltd (ASX: ADH) saw its share price add 6.4% to close at $2.49. A recent arrival on the ASX, Adairs listed on the ASX in June with an offer price of $2.40. Adairs is a specialty retailer of home furnishings in Australia, with products including bed linen, sheets, quilts and cushions, and accessories such as furniture and lighting. The company recently reported strong like-for-like sales growth of 17% in the September quarter, but says it’s unlikely to be repeated and reaffirmed its prospectus forecasts for the 2016 financial year.

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

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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.

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