MENU

Why these 4 ASX shares surged higher today

The benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) looks set for another day in the red. In afternoon trade the index has sunk lower by 0.4% to 5,830 points.

Four shares that have defied the market and climbed higher are listed below. Here’s why they have surged higher:

The Cochlear Limited (ASX: COH) share price has pushed 3% higher to $176.75. Although the implantable hearing device manufacturer disappointed the market with its half-year result yesterday, one broker saw enough promise to upgrade its shares. According to a note out of Citi, its analysts have upgraded Cochlear to a neutral rating from sell and given its shares an increased price target of $175.00.

The Computershare Limited (ASX: CPU) share price is 5.5% higher at $17.40 following the release of its half-year results. The market appears to be pleased with the company’s 12.4% increase in revenue to $1,123 million and 20% increase in management EBITDA to $289.6 million. Key drivers of this growth were its US mortgage services operations and an increase in event activity in the stakeholder relationship management business.

The CSL Limited (ASX: CSL) share price has raced 5.5% higher to $149.83. This morning the biotherapeutics company reported a 35% increase in half-year net profit after tax to US$1.1 billion. The impressive result was driven by strong sales growth across major product lines and a number of new products being approved during the half. I think this demonstrates why CSL is one of the highest quality businesses on the ASX.

The Orora Ltd (ASX: ORA) share price has climbed 3.5% to $3.30 after the packaging company released its half-year results. Orora delivered a 14.8% increase in net profit after tax before significant items to $105.7 million. Management pointed to higher volumes in its Glass and Fibre segments as playing a key role in its strong first-half performance. Whilst I felt this was a strong result, I thought its guidance was a touch soft.

Missed these gains and in need of a lift? Then don't miss out on these exciting shares.

The Disruptors: 3 Revolutionary Aussie Companies to Back for 2018

We're living in one of the most exciting times in investing history. Innovation and a booming culture of entrepreneurship are constantly creating new companies with the potential to make forward-thinking investors very rich. Now more than ever, one small, smart investment could make a huge difference to your wealth.

That's why at The Motley Fool we've been scrutinizing the ASX to uncover the kinds of companies that we believe could turn into the next Cochlear or REA Group.

We've found three exciting companies that we believe re poised to perform in the new year. Click here to uncover these ideas!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Cochlear Ltd. and Computershare. 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.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.