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Why these 4 ASX shares jumped higher today

In early afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its early gains and is mostly flat at 5,938 points.

Four shares that have not let that hold them back are listed below. Here’s why they have jumped higher today:

The Compumedics Limited (ASX: CMP) share price is up 12.5% to 40 cents after the medical device company released its half-year results. Although Compumedics reported a slight drop in revenue to $16.1 million, this was largely the result of some orders being booked late in the half. As a result, they won’t be recognised as revenue until the second-half. Investors appear pleased with the record sales orders it reported during the half.

The Nufarm Limited (ASX: NUF) share price has climbed 5% to $8.67 following the release of its first-half results. Nufarm reported a 7.4% increase in group revenues to $1.46 billion during the period. Things were not as rosy on the bottom line after production interruptions and challenging operating conditions in Brazil impacted its earnings. Underlying EBIT fell 11.8% to $75 million, in line with its guidance. Despite this, management is forecasting full-year underlying EBIT growth of between 5% and 10% on the prior year.

The Synlait Milk Ltd (ASX: SM1) share price has jumped 13% to $8.58. This morning the dairy processor revealed a half-year profit of NZ$40.7 million on revenue of NZ$439.3 million for the six months ended January 31. This was a 283% and 52% increase, respectively, on the prior corresponding period. The main driver of this growth was from the infant formula market which Synlait Milk is exposed to predominantly through its manufacturing deal with A2 Milk Company Ltd (ASX: A2M).

The Whitehaven Coal Ltd (ASX: WHC) share price has stormed 7% higher to $4.51. After the market closed on Tuesday Rio Tinto Limited (ASX: RIO) announced the sale of its Queensland coal assets to Glencore. Whitehaven had been tipped by UBS as a bidder for these assets and believed they would be highly accretive to earnings. Judging by the reaction today, it seems as though the market disagreed and felt the debt-funded deal would have been a negative.

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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 A2 Milk. 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 Scott Phillips.

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