Why these 4 ASX shares jumped higher today

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has rebounded from yesterday’s decline with a push higher on Wednesday. In afternoon trade the benchmark index is up 0.2% to 6,266.5 points.

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

The Eclipx Group Ltd (ASX: ECX) share price have rebounded from yesterday’s heavy decline with an 11% rise to $2.00. Investors appear to believe that Eclipx’s shares fell into the bargain bin after dropping over 40% on Tuesday following a surprise downgrade. That downgrade was brought about by a weak performance from the Grays Online business it acquired last year.

The Neuren Pharmaceuticals Ltd (ASX: NEU) share price has also rebounded from a heavy decline and is up almost 3.5% to $1.57. The biotech company’s shares fell over 40% after it entered into an exclusive North American license agreement with ACADIA Pharmaceuticals for the development and commercialisation of trofinetide for Rett syndrome and other indications.

The SKYCITY Entertainment Group Limited (ASX: SKC) share price is up almost 2.5% to $3.71 after the release of its full-year results. The market appears pleased to see the casino and resorts operator’s businesses all performing well in FY 2018. SKYCITY posted normalised revenue of NZ$1,100.8 million and net profit after tax of NZ$169.9 million. This was 7% and 10.4% higher, respectively, year-on-year. I think it could worth a look after this result.

The Tabcorp Holdings Limited (ASX: TAH) share price has risen over 7.5% to $4.84. This morning the betting and lotteries company released its full-year results. Thanks to the addition of the Tatts business, full-year revenues rose 71.4% to $3,828.7 million. This ultimately led to a net profit after tax of $28.7 million, up from a $20.8 million loss in FY 2017. Management appears confident that FY 2019 will be just as strong and believes the combination of digitalisation, new product launches, and synergies have set the company up well for future success.

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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Sky City Entertainment Group Ltd. 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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