Why these 4 shares are ZOOMING higher today

The market may be trading deep in the red today, but these four shares have managed to post solid gains.

| More on:
a woman

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Local investor sentiment has been dampened by weak offshore leads today and this has seen the S&P/ASX 200 (Index: ^AXJO) (ASX:XJO) trade sharply lower for the second day in a row. At around lunchtime, the benchmark index was trading 0.7% lower to 5,619 points.

The gold sector has been the only bright spot today, with particularly heavy falls coming from the energy and materials sectors.

Despite the market weakness, these four shares have managed to post solid gains:

Bellamy's Australia Ltd (ASX: BAL)

Shares of Bellamy's have spiked more than 6.5% today, despite the absence of any news from company. It appears bargain hunters might be stepping up to the plate today on the basis that the shares may have finally bottomed out last week. I wouldn't be so confident that is the case however, as the company still faces a very tough road back in regaining the confidence of investors.

Freelancer Ltd (ASX: FLN)

Shares of Freelancer have climbed 3.9% today after the company delivered a strong quarterly update. Cash receipts in the December quarter grew to $13 million with full year receipts growing 35% year-on-year to $51.9 million. Importantly, Freelancer's operations ended the year being cash flow positive and the company has started the new year off with no net debt and $35 million of cash in the bank. Despite today's gains, the shares have still slumped around 40% over the past 12 months.

Fortescue Metals Group Limited (ASX: FMG)

Shares of Fortescue have jumped 2.8% today after the iron ore miner released an impressive December quarterly activities report. Not only is Fortescue on track to meet its 165-170 million tonne production target for FY17, it also managed to lower its quartely operating costs to just US$12.54/wet metric tonne (wmt). This is the 12th consecutive quarter the company has managed to lower its operating costs and compares favourably to the current iron ore price of around US$83/tonne.

Servcorp Limited (ASX: SRV)

After taking a massive dive yesterday, shares of Servcorp have rebounded more than 4.4% today. It comes after the managed office provider announced a pretty hefty profit downgrade as a result of difficult trading conditions in the U.S. and South East Asia. As highlighted here, Servcorp is a cyclical business and investors buying shares today must be confident that global economic conditions will not deteriorate from here. Despite today's gains, the shares have still fallen around 20% since the start of the year.

Motley Fool contributor Christopher Georges 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.

More on ⏸️ Investing

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »

⏸️ Investing

Why Fox (NASDAQ:FOX) might hurt News Corp (ASX:NWS) shareholders

News Corporation (ASX: NWS) might be facing some existential threats from its American cousins over the riots on 6 January

Read more »