Why ALS, Clover, Computershare, & EML Payments shares are storming higher

Clover Corporation Limited (ASX:CLV) and EML Payments Ltd (ASX:EML) shares are two of four storming notably higher today…

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It has been an eventful day for the S&P/ASX 200 Index (ASX: XJO). After sinking lower in early trade, the benchmark index is trading roughly flat at 5,557.6 points at the time of writing.

Four shares that have not let that hold them back are listed below. Here's why they are storming higher:

The ALS Ltd (ASX: ALQ) share price is up almost 5% to $6.92. This appears to have been driven by a broker note out of Credit Suisse this morning. According to the note, the broker has upgraded the testing services company's shares to an outperform rating with an $8.00 price target. It made the move ahead of its results release next week.

The Clover Corporation Limited (ASX: CLV) share price has jumped 12% to $2.51. Investors have been buying the infant formula ingredients company's shares following the release of a positive trading update. Clover revealed that it has recently experienced a surge in demand and expects this to continue in the fourth quarter. Strong sales of infant formula products during the pandemic is driving the demand for ingredients.

The Computershare Limited (ASX: CPU) share price is up 4% to $12.66. This follows the release of an update by the share registry company after the market close on Tuesday. Computershare revealed that the majority of its businesses are operating resiliently during the pandemic. As such, it has reaffirmed its management earnings per share guidance of a 20% decline in FY 2020.

The EML Payments Ltd (ASX: EML) share price has rocketed 15% higher to $3.78. This morning the payments company released an update for the third quarter and April. Although it has been facing large headwinds, revenue and EBITDA were up 20% and 24% financial year to date at the end of March. The company also revealed that it made an operating profit during the month of April.

James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of Clover Limited and Emerchants Limited. The Motley Fool Australia has recommended Emerchants Limited. 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.

More on Share Gainers

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why Latin Resources, Newmont, Nick Scali, and ResMed shares are surging today

These ASX shares are ending the week strongly. But why?

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

Let's also take a look at what the various ASX sectors were doing this Wednesday.

Read more »

A young women pumps her fists in excitement after seeing some good news on her laptop.
Share Gainers

Why Argosy Minerals, Immutep, Pointsbet, and Regis Resources shares are racing higher

These shares are having a strong session on Wednesday. But why?

Read more »

Businessman smiles with arms outstretched after receiving good news.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another strong showing from the share market today.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Healthco Healthcare, Medadvisor, Ramsay Health Care, and Tamboran shares are rising

These shares are having a strong session. But why?

Read more »

drug capsule opening up to reveal dollar signs signifying rising asx share price
Share Gainers

If you invested $6,000 in Mesoblast shares a month ago you'd have $15,636 now!

Mesoblast shares have been on a tear this past month. But why?

Read more »

Smiling man working on his laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was back to the races for ASX shares today, in a confident start to the week.

Read more »

rising gold share price represented by a green arrow on piles of gold block
Share Gainers

Here are the top 10 ASX 200 shares today

It was a horrible way to end the trading week today for ASX investors.

Read more »