Why these 4 ASX shares have surged higher today

In early afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has just managed to keep its head above water and is up 0.2% to 5,736 points.

Four shares which have climbed more than most today are listed below. Here’s why they have surged higher:

The Afterpay Holdings Ltd (ASX: AFY) share price is up almost 9% to $2.90 a day after the payments company announced a new funding facility with National Australia Bank Ltd (ASX: NAB). The new facility will increase from $40 million to $200 million and comes with improved pricing terms. Furthermore, the company reported that annualised underlying sales are estimated to be greater than $1 billion based on its recent monthly trading performance.

The Creso Pharma Ltd (ASX: CPH) share price has jumped 5% to 41.5 cents following the release of a positive announcement from the medicinal cannabis company. Creso has signed a letter of intent with Switzerland-based Cannapharm to provide patients in the Asia-Pacific and Latin America with high quality medicinal cannabis products to treat numerous conditions. A positive step from the fledgling company.

The Premier Investments Limited (ASX: PMV) share price has climbed 3.5% to $12.55. Today’s gain is likely to be attributable to a research note out of Citi which revealed that its analysts have upgraded the retailer to a buy rating with a $13.80 price target. I would agree with Citi on this one and believe Premier Investments is one of the best options in the retail industry right now.

The Vita Group Limited (ASX: VTG) share price has rocketed 11.5% to $1.08 after it emerged that its CEO Maxine Horne had purchased over $3 million worth of shares in the embattled retailer over the last few days. Despite today’s gain Vita Group’s shares are still down 66% year-to-date.

If you missed out on gains today don't worry, I think these exciting growth shares could be next in line for big gains.

Top 3 ASX Blue Chips To Buy In 2017

For many, blue chip stocks means stability, profitability and regular dividends, often fully franked..

But knowing which blue chips to buy, and when, can be fraught with danger.

The Motley Fool's in-house analyst team has poured over thousands of hours worth of proprietary research to bring you the names of "The Motley Fool's Top 3 Blue Chip Stocks for 2017."

Each one pays a fully franked dividend. Each one has not only grown its profits, but has also grown its dividend. One increased it by a whopping 33%, while another trades on a grossed up (fully franked) dividend yield of almost 7%.

If you're expecting to see the likes of Commonwealth Bank, Telstra and Wesfarmers shares on this list, you'll be sorely disappointed. Not only are their dividends growing at a snail's pace, their profits are under pressure too due to the increasing competitive environment.

The contrast to these "new breed" blue chips couldn't be greater... especially the very real prospect of significant share price gains, something that's looking less likely from the usual blue chip suspects.

The names of these Top 3 ASX Blue Chips are included in this specially prepared free report. But you will have to hurry. Depending on demand - and how quickly the share prices of these companies moves - we may be forced to remove this report.

Click here to claim your free report.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia owns shares of National Australia Bank Limited and Premier Investments Limited. 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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