The S&P/ASX 200 index has followed the lead of Wall Street and is pushing higher again today. At the time of writing the benchmark index is up a sizeable 0.7% to 7,195.6 points.
Four shares that are climbing more than most today are listed below. Here’s why they are racing higher:
The Accent Group Ltd (ASX: AX1) share price has surged 11% higher to $2.15. This follows the release of the footwear-focused retailer’s half year results after the market close on Wednesday. For the six months ended December 31, Accent reported EBITDA growth of 10.5% to $67.7 million and net profit after tax growth of 9.7% to $35.3 million. This was driven by store openings, strong online sales growth, and a 2.4% increase in like for like sales.
The Bravura Solutions Ltd (ASX: BVS) share price has jumped 8.5% higher to $5.86 following the release of its half year results. For the six months ended December 31, the fintech company achieved further growth and continued operating leverage expansion. Revenue was up 6% to $135.1 million and net profit after tax increased 21% to $19.8 million.
The Coca-Cola Amatil Ltd (ASX: CCL) share price has stormed 7% higher to $12.88 after the release of its full year results. This morning Coca Cola Amatil smashed expectations by reporting a sizeable 6.5% increase in total revenue from continuing operations to $5,112.1 million. This came in ahead of consensus estimates and was driven by solid volume growth in the key Australian market. Looking ahead, management advised that it expects mid-single digit earnings per share growth in 2020.
The Qantas Airways Limited (ASX: QAN) share price has taken off and is up 5.5% to $6.66. This morning the airline operator released a solid half year result in difficult market conditions. In addition to this, the company provided an update on its plans to limit the impact of the coronavirus outbreak on its profits. Qantas will be cutting its capacity materially in the second half both internationally and domestically. This is expected to limit the impact to $100 million to $150 million of EBIT.
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Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Bravura Solutions Ltd. The Motley Fool Australia has recommended Accent Group. 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.