Why ALS, BlueScope, FlexiGroup, & Perpetual shares are charging higher

BlueScope Steel Limited (ASX:BSL) and FlexiGroup Limited (ASX:FXL) shares are two of four charging notably higher on Thursday…

| More on:
Green dollar sign rocket on the back of a man.

Image source: Getty Images

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

In late morning trade on Thursday the S&P/ASX 200 Index (ASX: XJO) has followed the lead of U.S. markets and looks set to end its winning streak. The benchmark index is currently down 0.4% to 6,505.2 points.

Four shares that are not letting that hold them back are listed below. Here's why they are charging higher:

ALS Ltd (ASX: ALQ)

The ALS share price is up 8% to $10.23 a day after the release of its half year results. The catalyst for this appears to have been a positive reaction to its results from a number of brokers. One that was particularly positive was Macquarie. In response to the release, the broker has retained its outperform rating and lifted the price target on its shares to $10.65.

BlueScope Steel Limited (ASX: BSL)

The BlueScope share price has stormed 5.5% higher to $17.78. This follows the release of its updated guidance for the first half of FY 2021. According to the release, underlying earnings before interest and tax (EBIT) is expected to be approximately $475 million for the half. This includes the contribution made from the recent industrial warehouse property sale. The new guidance represents a rise of 80% over the second half of FY 2020.

FlexiGroup Limited (ASX: FXL)

The FlexiGroup share price has jumped 9% higher to $1.17. Investors have been buying the financial services company's shares after it announced a deal with Mastercard for its bundll buy now pay anywhere product. In addition to this, the company revealed that it expects its first half cash net profit after tax to be ahead of the $34.5 million it achieved in the prior corresponding period.

Perpetual Limited (ASX: PPT)

The Perpetual share price is up 4% to $31.41. This appears to have been driven by a broker note out of Morgan Stanley. In response to the completion of its acquisition of Barrow Hanley, the broker has retained its overweight rating but trimmed its price target on the fund manager's shares to $42.50.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended FlexiGroup 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

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Appen, Mayne Pharma, Playside, and PYC shares are storming higher

These shares are ending the week on a positive note. But why?

Read more »

chip and tech stocks represented by two computer chips side by side
Technology Shares

This little ASX AI stock is soaring 10% today. Here's why

Investors are piling into the ASX AI stock on Friday. But why?

Read more »

A man in a business suit wearing boxing gloves slumps in the corner of a boxing ring representing the beaten-up Zip share price in recent times
Industrials Shares

Beaten-up ASX 200 stock surges 12% on buyout rumour

This ASX 200 building materials stock has been struggling throughout FY24.

Read more »

A person wears a roaring lion mask.
Share Gainers

Guess how much a $3,000 investment in Liontown shares ballooned to in just one month

After a lengthy slide, Liontown shares came roaring back this past month.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Australian Ethical, Cromwell Property, Smartpay, and Xero shares are surging

These ASX shares are having a very strong session. But why?

Read more »

A young woman makes an online travel booking as she sits on some steps with her suitcase next to her.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares snatched defeat from the jaws of victory today.

Read more »

Two smiling work colleagues discuss an investment or business plan at their office.
Share Gainers

Why Droneshield, TechnologyOne, Telix, and Webjet shares are rising today

These shares are having a great session. But why?

Read more »

flying asx share price represented by man flying remote control drone
Share Gainers

Up 246% in a year, here's why the Droneshield share price is racing higher again today

ASX investors are sending the Droneshield share price soaring today. But why?

Read more »