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Why these 4 ASX shares stormed higher today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has bounced back from recent declines and is up a solid 0.7% to 6,034 points in afternoon trade.

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

The Domain Holdings Australia Ltd (ASX: DHG) share price has rebounded from yesterday’s heavy decline with a 9% jump to $3.00. The property listings company’s shares were crushed on Monday following the shock resignation of its CEO Antony Catalano due to family commitments. One broker thinks that this sell-off is a buying opportunity, though. I would be a buyer, but only at a cheaper price.

The Orocobre Limited (ASX: ORE) share price has climbed almost 4% to $6.83. The majority of Australia’s lithium miners have pushed higher today after coming under pressure in recent days amid concerns of a potential oversupply of the metal. But with electric vehicle sales still growing at an astonishing rate, I’m confident that leading lithium producers still have bright futures ahead of them.

The ResMed Inc. (CHESS) (ASX: RMD) share price has jumped 8% to $11.93 following the release of its latest update. The sleep treatment company reported first-half revenue of US$1,124.9 million, up around 13% on the first-half of FY 2017. Pleasingly, first-half non-GAAP earnings per share grew at the even quicker rate of 24% to US$1.66. I think this result demonstrates why ResMed would be a great buy and hold investment.

The Thorn Group Ltd (ASX: TGA) share price is up 5% to 83 cents after announcing that it has agreed to settle with ASIC in relation to historic breaches of responsible lending practices. The total remediation will be approximately $6.1 million, but management advised that the provisions it has already made will cover this. This appears to have been a good result for the financial services company.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended ResMed Inc. 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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