The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has recovered from its early decline and is pushing higher in afternoon trade. At the time of writing the benchmark index is up over 0.1% to 6,308.2 points.
Four shares that have climbed more than most today are listed below. Here’s why they are posting strong gains:
The CSL Limited (ASX: CSL) share price has pushed 4% higher to $209.78. This morning the global biotech giant reported 15% growth in revenue to US$7.6 billion and 29% growth in net profit after tax to US$1.73 billion. The profit result was just ahead of its updated guidance. In FY 2018 management expects net profit after tax to be in the range of US$1,880 to US$1,950 million in constant currency terms. This represents annual growth of between 10% and 14%.
The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price has rebounded strongly from yesterday’s decline with a 5% rise to $51.51. A number of positive broker notes were released today declaring the pizza chain operator’s shares as a buy. One of the more bullish notes came out of Morgan Stanley. Its analysts have retained their overweight rating and massive $65.00 price target largely on the belief that the market is underappreciating the growth opportunities the company has in Europe.
The HT&E Ltd (ASX: HT1) share price is up almost 7% to $2.53 following the release of the media and advertising company’s half-year results. In the first-half HT&E posted a 57% rise in net profit after tax from continuing operations to $13.5 million on a 10% increase in revenue to $137 million.
The Zip Co Ltd (ASX: Z1P) share price has climbed 3.5% to 97 cents after the payment solutions company announced a deal with Virgin Australia Holdings Ltd (ASX: VAH). According to the release, Zip’s interest-free payment service will soon be available to Virgin Australia customers. This builds on a deal signed with Virgin Australia subsidiary Tigerair earlier this year and could put it in a position to achieve its target of $1 billion of transaction volume in FY 2019.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Domino's Pizza Enterprises Limited. 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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