The Motley Fool

Why Beach, Northern Star, Xenith IP, & Virgin Australia shares zoomed higher today

In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) has given back its morning gains and has sunk into the red. At the time of writing the benchmark index is down a disappointing 0.3% to 6,059.8 points.

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

The Beach Energy Ltd (ASX: BPT) share price has pushed 6% higher to $1.79 after the energy producer released an impressive half year result. During the first half of FY 2019 the company tripled its underlying half year net profit after tax to $278.8 million. Beach also upgraded production guidance for the full year from 25-27 MMboe to 28-29 MMboe.

The Northern Star Resources Ltd (ASX: NST) share price is up 6.5% to $9.55 following the release of its half year result. This morning the gold miner posted an underlying half year profit of $89.1 million on revenue of $633.5 million. This was an increase of 11% and 43%, respectively, on the prior corresponding period. Management also revealed that it was on track to achieve its full year production guidance.

The Virgin Australia Holdings Ltd (ASX: VAH) share price has jumped almost 8% higher to 21 cents after posting its strongest half year profit result in over a decade. In the first half the company posted group revenue of $3,071 million, which was an increase of 10% on the prior corresponding period and a record for the airline. Group underlying half year profit before tax increased 37.1% to $112.3 million. The impressive profit result was achieved despite $88.2 million fuel and foreign exchange headwinds.

The Xenith IP Group Ltd (ASX: XIP) share price has surged 18% higher to $1.66 after rival IPH Ltd (ASX: IPH) acquired 19.9% of its issued share capital. IPH also indicated in its announcement that it intends to participate in further industry consolidation and seeks discussions with Xenith about a potential transaction.

NEW! Analyst Names 3 Dividend Picks for February

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended IPH 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.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.