Why these 4 ASX shares are storming higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course for yet another decline and is down 0.1% to 6,028 points in afternoon trade.

Four shares which have defied the market and pushed higher today are listed below. Here’s why they are storming higher:

The A2 Milk Company Ltd (ASX: A2M) share price has rebounded after its recent selloff and is up 5.5% to $9.81. Prior to today the infant formula and dairy company’s shares were down almost one-third from their all-time high. Some investors appear to believe that this drop has created a buying opportunity and I would agree.

The Aristocrat Leisure Limited (ASX: ALL) share price has stormed 7.5% higher to $29.87 after delivering an impressive first-half result. The gaming technology company posted normalised net profit after tax of $310.5 million on revenues of $1,640.9 million. This was an increase of 24.4% and 33.6%, respectively, on the prior corresponding period. The highlight for me was the company’s 493% lift in daily active users to 8.3 million. This is likely to lead to strong recurring revenues in the future.

The Jatenergy Ltd (ASX: JAT) share price has jumped 11% to 15.5 cents after the energy-cum-infant formula company announced plans to acquire a controlling stake in Sydney-based wholesaler, distributor, and exporter, Green Forest International. Green Forest sells to more than 50 shops and pharmacies in Hong Kong and over 200 gift shops, duty free stores, and daigou warehouses in Australia.

The Yojee Ltd (ASX: YOJ) share price has pushed higher for a third day in a row and is up a further 7% to 14.5 cents. The logistics and supply chain management software provider’s shares have risen over 25% since Tuesday after it signed a services agreement with Schenker (Asia Pacific). While I think it is a promising agreement, I would suggest investors wait to see what becomes of it.

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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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