The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to make it three days of successive gains and is up ever so slightly to 5,760 points in afternoon trade.
Four shares which are climbing more than most today are listed below. Here's why they are higher:
The Aveo Group (ASX: AOG) share price is up 11% to $2.70 after the retirement community operator reported a 22% increase in underlying net profit after tax to $108 million. Underlying earnings per share came in at 18.9 cents, meaning its shares are changing hands at 14x earnings. With management targeting 8% growth in earnings next year, I think this makes its shares reasonable value.
The Fastbrick Robotics Ltd (ASX: FBR) share price has rocketed 37% to 24 cents after the company behind the Hadrian X bricklaying robot announced a memorandum of understanding with the Kingdom of Saudi Arabia. Should the MOU go ahead, around 100 robots will be needed to build a minimum of 50,000 new homes in the country. The company has previously said it expects to sell the robots for $2 million each, meaning this MOU could be worth as much as $200 million.
The InvoCare Limited (ASX: IVC) share price has climbed 5% to $14.92 after the funeral company released its full-year results. Despite a loss of market share in Australia, InvoCare posted a 13.5% increase in operating earnings after tax to $24.5 million. Pleasingly, management expects that it will start to regain market share late in 2018.
The Woodside Petroleum Limited (ASX: WPL) share price is up 3% to $30.03 following the release of its half-year results. Although the oil and gas company posted a 4% drop in revenue to $1.9 billion, net profit after tax rose an impressive 49% to $507 million. Furthermore, the company advised that its break-even oil price is now US$34/barrel, meaning its operations are highly profitable at current prices.
