Why these 4 ASX shares surged higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has built on yesterday’s gain and is up an impressive 0.8% to 6,087 points in afternoon trade.

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

The GUD Holdings Limited (ASX: GUD) share price has climbed 6% to $12.99 a day after the release of its half-year results. Today’s gain may be related to a positive broker note out of the Macquarie equities desk which revealed that the broker has upgraded the retail conglomerate to an outperform rating with a $13.50 price target. The broker appears bullish on the company’s automotive segment.

The McPherson’s Ltd (ASX: MCP) share price is up almost 10% to $1.31 following the release of its preliminary half-year results. According to the release, management expects an interim underlying pre-tax profit of $11 million. Whilst this will be flat on the prior corresponding period, it is far better than previous guidance for a 10% to 15% decline in half-year profit.

The Wattle Health Australia Ltd (ASX: WHA) share price is over 8% higher to $2.45. This morning the infant formula and nutritional dairy product company advised that it has received its first order from the Macau market. The order is for the company’s entire dairy nutritional range. Management sees this as a way to expand its distribution footprint internationally and service the lucrative cross border market with China through another distribution channel.

The Xero Limited (ASX: XRO) share price is up 7.5% to $33.81 following reports that National Australia Bank Ltd. (ASX: NAB) will allow payments to be made from inside the accounting software. This will mean that NAB customers can pay an invoice inside Xero by just clicking a button. The deal appears to be a win for both companies in my opinion.

Missed these gains? Then don't miss these top shares which have been tipped to shine in 2018.

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