Why these 4 shares soared on the ASX today

S&P/ASX 300 closes down 0.6%, but these 4 companies saw their share prices urge higher

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The S&P/ASX 300 (Index: ^AXKO) (ASX: XKO) closed down 0.6% at 5,037.2 points – its second consecutive day of loses, after US markets fell overnight.

These four shares posted strong gains, despite the market heading the opposite direction…

Capitol Health Ltd (ASX: CAJ) saw its share price jump 9.8% to $0.34. The diagnostic imaging company has seen its share price plummet from a 52-week high of $1.11, after the announcement by the government of a review in the MBS scheme. It seems doctors, worried about being audited, have already begun cutting back on patient referrals for scans, with the effect reflecting on the last quarter revenues of Capitol Health.

Dick Smith Holdings Ltd (ASX: DSH) saw its share price soar 9.0% to $0.37. The consumer electronics retailer has seen its shares lose 44% in the past 5 business days, after the company downgraded its earnings forecast and announced a massive cleanout sale at huge discounts. I suspect this won’t be the first, and bargain hunters may be sorely disappointed.

Netcomm Wireless Ltd (ASX: NTC) saw its share price gain 7.4% to $3.20. Up 575% so far year-to-date, after the company won a number of major contracts, including supplying the NBN with fixed wireless devices and a major US telco with devices for its rural broadband rollout. This could be the start of major contracts in more countries around the world.

Catapult Group International Ltd (ASX: CAT) saw its share price rise 7.3% to $1.76, after announcing a new commercial agreement to provide athlete tracking data to all 18 Australian Football League (AFL) clubs for 5 years from the 2016 season. We covered Catapult in more detail earlier today.

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Motley Fool writer/analyst Mike King owns shares in Capitol Health. 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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