Why these 4 ASX shares are smashing the market today

Aconex Ltd (ASX:ACX) and Hub24 Ltd (ASX:HUB) have put on strong gains so far today despite the fact the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) has been struggling.

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The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has not had the best day today and looks set to finish the week on a downer. Currently it sits on an almost 0.8% decline bringing the index down to 5225 points.

Despite this the index looks set to finish up by over 1.6% for the week, within touching distance of its January high.

Four stocks which have outperformed the market today include:

Aconex Ltd's (ASX: ACX) share price continues to climb higher and higher. So far today it is almost 6% higher at a price of $6.71. The latest jump in its share price can be traced back to yet another upgrade and buy recommendation from a financial institution. This time it was Deutsche Bank which rates them as a buy with a $7.85 price target. Despite not being cheap, I believe this exciting software company is a great investment right now and could well reach as high as Deutsche's price target.

Aconex's share price has now gained 28% so far in 2016.

Australian Pharmaceutical Industries Ltd (ASX: API) shares have climbed over 7% to $2.01, in what appears to be a delayed reaction to its interim results yesterday. I felt these results were positive with revenue increasing 4.4% year-over-year to $1.8 billion and underlying net profit increasing a massive 18.1% to $25 million. The market response yesterday may have been subdued, but today it is certainly making up for it with significant buying pressure on the shares of the owner and operator of pharmacy brands Priceline and Soul Pattinson.

API shares are now up 21% in the last 12 months.

Hub24 Ltd (ASX: HUB) has seen its share price climb over 10% today to $4.32 following its third quarter release. The release shows another quarter of record inflows for the financial services company, as well as funds under administration rising 80% year-over-year to $2.7bn. Importantly, the number of financial advisers using its platform continues to increase. The number now stands at 579, compared to 449 a year ago.

Although still down year-to-date, Hub24 shares have climbed a whopping 285% in the last 12 months.

Whitehaven Coal Ltd (ASX: WHC) jumped around 6% today to 81 cents despite the news that mining giant BHP Billiton Limited (ASX: BHP) warned that current iron ore and coal prices are not sustainable. It seems that investors are more bullish on coal than BHP Billiton is and have pushed the shares up to a 13% gain now in the last 30 days. Time will tell who is right, but it certainly isn't an investment that I would be willing to risk right now.

Despite the strong gains in recent weeks, Whitehaven Coal's share price is still down 47% in the last 12 months.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. 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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