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Why these 4 ASX shares have jumped higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and has fallen into the red. At present the index is down 0.1% to 5,756 points.

Four shares which have outperformed the market by a considerable distance today are listed below. Here’s why they have jumped higher:

The ALS Ltd (ASX: ALQ) share price is up 13% to $6.60 following the release of a solid full-year result. This led to Citi upgrading the testing services company’s shares to a buy rating all the way from a sell. Furthermore, the broker increased its price target from $5.60 to $6.90. Whilst things do look to be improving, I wouldn’t be a buyer at the current share price.

The Emefcy Group Ltd (ASX: EMC) share price has jumped 5% to 91.5 cents after the wastewater treatment solution provider announced the signing of its third commercial agreement in China in little over a week. Whilst it may have bucket loads of potential, with a market cap of over $200 million and just US$70,000 in quarterly revenues, it is a little expensive for my tastes.

The Iluka Resources Limited (ASX: ILU) share price has climbed 6% to $9.08 after the mineral sands company announced that it has increased its zircon reference price by US$130 per tonne to US$1,100 effective from 1 July 2017. This could potentially mean another solid year ahead for Iluka.

The zipMoney Ltd (ASX: ZML) share price has rocketed 10% to 68 cents after the payments company announced the completion of a $260 million asset-backed securitisation warehouse program. Management expects this to both reduce its interest expense and have a meaningful impact on its future profitability, putting it on course to breakeven by FY 2018. Whilst this is great news, it wouldn’t be my first pick in the industry.

5 stocks under $5

We hear it over and over from investors, "I wish I had bought Altium or Afterpay when they were first recommended by The Motley Fool. I'd be sitting on a gold mine!" And it's true.

And while Altium and Afterpay have had a good run, we think these 5 other stocks are screaming buys. And you can buy them now for less than $5 a share!

*Extreme Opportunities returns as of June 5th 2020

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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