At lunch on Tuesday the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to build on yesterday's gain. At the time of writing the benchmark index is up almost 0.4% to 6,112 points.
Here's what has been happening on the market on Tuesday:
Altium shares rocket to an all-time high.
The Altium Limited (ASX: ALU) share price rocketed 24% higher to an all-time high this morning following the release of its half year results. Investors have responded very positively to news that Altium achieved half year revenue of US$78 million, EBITDA of US$28.4 million, profit after tax of $23.4 million, and earnings per share of 18 U.S. cents. This represented revenue growth of 26% and net profit after tax growth of 58% on the prior corresponding period. Fellow tech shares Appen Ltd (ASX: APX) and WiseTech Global Ltd (ASX: WTC) have risen strongly on the back of this news.
Blackmores shares crash to a 52-week low.
The Blackmores Limited (ASX: BKL) share price is down a massive 23% at lunch following the release of a very disappointing half year result. Although Blackmores achieved record half year revenue of $319 million, its net profit after tax came in flat at $34 million. Slowing sales growth in China was blamed for the poor result.
Cochlear result falls short of expectations.
The Cochlear Limited (ASX: COH) share price has fallen 8% following the release of the hearing solutions company's half year results. Although Cochlear grew net profit by 16% to $128.6 million in constant currency, it appears the market was expecting an even stronger result. Guidance for the full year was reaffirmed by management.
Coles shares drift lower.
The Coles Group Ltd (ASX: COL) share price is down 3% at lunch after its half year results fell a touch short of expectations. Although the company's Supermarket and Liquor businesses performed well, this was offset by weakness in its Express business.
Best and worst performers.
The Altium share price is the best performer on the ASX 200 at lunch with a 20% gain. Some distance behind is the IOOF Holdings Limited (ASX: IFL) share price which is up a solid 11% following the release of its half year results. Going the other way is of course the Blackmores share price, closely followed by the Emeco Holdings Limited (ASX: EHL) share price which has plunged 20% lower despite delivering a 159.8% increase in half year operating NPAT to $31.7 million.
