Here’s why these 4 ASX shares are soaring today

It has been a reasonably positive day for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) today. The benchmark index has bounced back from yesterday’s decline and in afternoon trade is 0.5% higher at 5,478 points.

Four shares which are having even better days are as follows:

Australian Pharmaceutical Industries Ltd (ASX: API) shares have jumped higher by 4.8% to $1.985 after the company upgraded its full year underlying EBITDA guidance. The company now expects underlying EBITDA to come in at least 17% higher year on year at $51 million. The owner and operator of the Priceline pharmacy brand also announced that its CEO and managing director Stephen Roche will step down from the role in February 2017, to be replaced internally by Richard Vincent.

Resolute Mining Limited (ASX: RSG) shares have rebounded from heavy declines yesterday with a 1.8% jump to $1.787. Resolute was one of a number of Australian gold producers which were hit hard yesterday after the gold price dropped significantly. But with the spot gold price now consolidating at around US$1,267 an ounce, investors appear to have returned to the sector again.

Syrah Resources Ltd (ASX: SYR) shares have jumped 9.4% to $3.665 despite no further news out of the company. Syrah shares were crushed yesterday after the surprise resignation of its managing director Tolga Kumova. With Syrah on the verge of becoming the largest producer of high purity graphite in the world, bargain hunters have been quick to snap up its shares.

Whitehaven Coal Ltd (ASX: WHC) shares are up 4.1% to $2.655 despite no news out the coal producer. Whitehaven’s shares have risen over 23% in the last 30 days due to a rise in coal prices thanks to strong demand from China. But prices could be about to head lower soon. According to the Australian Financial Review, investment bank Morgan Stanley has called the peak of the coal price rally.

Missed out on gains today? Don't worry. These rapidly growing shares could be next in line to bolt higher.

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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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