In afternoon trade the S&P/ASX 200 index is on course to record a disappointing decline. At the time of writing the benchmark index is down 1.3% to 6,724.2 points.
Four shares that have not let that hold them back today are listed below. Here’s why they are surging higher:
The ALS Ltd (ASX: ALQ) share price is up 8% to $8.72 following the release of a solid half year result. During the first half of FY 2020, the testing services company reported revenue from continuing operations of $919.1 million and underlying net profit after tax of $98.2 million. This was an 11.3% and 5.3% increase, respectively, on the prior corresponding period. Its profit beat its guidance range of $90 million to $95 million.
The Aristocrat Leisure Limited (ASX: ALL) share price has jumped 6% to $33.69 following the release of its full year results. In FY 2019 the gaming technology company achieved normalised operating revenue of $4,387.4 million and NPATA of $894.4 million. This was growth of 22.7% and 22.6%, respectively, on the prior corresponding period. The Americas and Digital segments were the stars of the show.
The Technology One Limited (ASX: TNE) share price is bouncing back from yesterday’s sell off and is up 9% to $8.56. The SaaS company’s shares tumbled lower on Tuesday following the release of its full year result. Technology One delivered revenue of $286 million and a profit before tax of $76.4 million. This was up 13% and 50% on the prior corresponding period.
The Webjet Limited (ASX: WEB) share price is up 3% to $12.78 following the release of its annual general meeting presentation. At the event Webjet provided its guidance for the full year. It expects FY 2020 underlying EBITDA, excluding one-off revenues and costs and the impact of AASB16, to be between $157 million and $167 million. This represents growth of approximately 26% to 34% over FY 2019.
Where to invest $1,000 right now
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Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.
*Returns as of June 30th
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Webjet 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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