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4 shares soaring on the ASX today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has closed up 0.4%, with gains in energy and resources companies, and three of the big four doing the heavy lifting. Overnight, the US markets closed strongly, with the S&P 500 up 1.1% and the tech-heavy NASDAQ 1.6%.

These four shares also had a very strong day…

Collins Foods Ltd (ASX: CKF) share price recovered 7.8% to $4.15. Australia’s largest KFC operator and owner of the Sizzler restaurants had seen its share price fall as low as $3.50, with various potential reasons for the fall as we mentioned yesterday. But a cheap price and a strong first half result suggests shares may have been sold too low, and the bargain hunters may have arrived.

Seven West Media Ltd (ASX: SWM) saw its share price gain 7.2% to $0.97. The media company may be benefitting on the back of a recent announcement from Nine Entertainment Co Holdings Ltd (ASX: NEC) that it had lost some of its market share in a tough free-to-air advertising market. Nine’s share price plunged more than 20% yesterday. Seven is tipped as the most likely to gain, thereby consolidating its dominant lead.

Worleyparsons Limited (ASX: WOR) share price rose 5% to $5.43, thanks to oil prices surging higher overnight. Brent Crude oil jumped 5% to US$39.75 a barrel, after the US announced a surprise fall in domestic crude stockpiles. Worleyparsons mainly services the oil and gas industry, and the company’s share price can fluctuate with movements in the oil price. The company’s share price had dropped as low as $3.00 recently – mostly as a result of poor financial results, stemming from oil explorers and producers cutting back on services such as those that Worleyparsons provides.

Blackmores Limited (ASX: BKL) share price gained 4.5% to close at $200. The vitamins and supplements manufacturer and distributor has seen its share price rocket up in recent days, with investors more confident that new laws to be enacted by China will likely have a negligible impact on the company’s sales into that country. China is clamping down on ‘unofficial’ or grey-market sales, by imposing a tax, but Blackmores already has direct sales channels into China.

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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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