Thanks largely to solid gains in the financial sector, the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is up 0.5% to 5,904 points in afternoon trade.
Four shares which have made notably strong gains today are listed below. Here's why they have stormed higher:
The Domino's Pizza Enterprises Ltd. (ASX: DMP) share price has jumped 3.5% to $66.65 despite there being no news out of the pizza chain operator. Allegations of the underpayment and mistreatment of employees by franchisees sent its shares crashing lower in February, but today's gain now means they are in positive territory again year-to-date.
The Graincorp Ltd (ASX: GNC) share price has rocketed almost 9% to $9.91 following the release of a strong half-year result. This morning the agribusiness company reported a staggering 212.5% increase in underlying net profit after tax to $100 million. At around 15x forward earnings, Graincorp could be worth a closer look.
The Hydroponics Company Ltd (ASX: THC) share price is up 6% to 36.5 cents. Today's gain means the diversified cannabis company has gained 82.5% since its IPO this time last week. Investors appear to have been pleased with the 22% increase in revenue to $1.1 million that it announced earlier this week.
The XERO FPO NZX (ASX: XRO) share price has surged 4% to $21.38 following the release of its full-year results. The cloud-based accounting software provider reported a 43% rise in revenue in FY 2016, thanks largely to a big increase in subscribers. The total number of subscribers was 1.035 million, up an impressive 318,000. I think this result demonstrates why it could be a great buy and hold investment option.
