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Why these 4 ASX shares are pushing higher today

It has been another disappointing day of trade for the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO). In afternoon trade the index is a sea of red and down 0.8% to 5,650.5 points.

Four shares that have defied the market selloff today are listed below. Here’s why they are surging higher:

The A2 Milk Company Ltd (ASX: A2M) share price is up over 1.5% to $9.96 after the infant formula and dairy company released a trading update ahead of its annual general meeting. Management revealed that the first four months of trade has seen revenue increase 40.5% to NZ$368.4 million and net profit after tax rise an impressive 64.5% to NZ$86 million. Although it expects this to growth moderate slightly, it remains confident of a strong full year result.

The ALS Ltd (ASX: ALQ) share price is up 3% to $8.19 after the testing solutions company released its half year results. Thanks to solid growth across all its business, ALS delivered a 15.2% increase in half year revenue to $826.1 million and a 29.8% lift in first half underlying net profit after tax to $93.3 million.

The Pro Medicus Limited (ASX: PME) share price has risen 6% to $9.73 after the health imaging company announced a A$27 million, 7-year contract with Partners Healthcare. According to the release, the contract is based on a transaction licensing model and will see its Visage 7 technology implemented at Partners’ two flagship hospitals, eliminating their legacy PACS. Management advised that the deal also includes scope to expand to other Partners network hospitals at a later date.

The Saracen Mineral Holdings Limited (ASX: SAR) share price has stormed 4.5% higher to $2.63. Almost all of Australia’s leading gold miners are pushing higher today after investors fled to safe haven assets. This has led to the S&P/ASX All Ords Gold index rising 0.9% so far today. Saracen’s shares hit a 52-week high of $2.66 in earlier trade.

Missed these gains? Then don't miss these hot stocks which could be the next ones to storm higher.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends Pro Medicus Ltd. The Motley Fool Australia owns shares of and has recommended Pro Medicus Ltd. 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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