In late morning trade the S&P/ASX 200 Index (ASX: XJO) has fought back from an early decline and is pushing higher. The benchmark index is currently up 0.2% to 6,898.8 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
CSL Limited (ASX: CSL)
The CSL share price is up 2.5% to $288.50 following the release of its half year results. For the six months ended 31 December, CSL reported a 16.9% increase in revenue to US$5,739 million and a 45% jump in reported net profit after tax to US$1,810 million. This was driven by growth in its core immunoglobulin portfolio, the successful transition to its own distribution model in China, strong growth HAEGARDA sales, and exceptionally strong demand for influenza vaccines.
Domino’s Pizza Enterprises Ltd (ASX: DMP)
The Domino’s share price is up a further 5.5% to $110.73. Investors have been buying the pizza chain operator’s shares after brokers responded positively to its half year results. Analysts at Goldman Sachs retained their conviction buy rating and lifted their price target to $112.60. Whereas analysts at Macquarie have held firm with their outperform rating and increased their price target to $120.00.
IPH Ltd (ASX: IPH)
The IPH share price has jumped 8% to $6.61. The catalyst for this was the release of the intellectual property services provider’s half year results. IPH reported a 3% increase in underlying net profit after tax to $37.6 million. This was despite facing notable currency headwinds during the half. This led to a 14 cents per share interim dividend being declared, up 4% year on year.
Treasury Wine Estates Ltd (ASX: TWE)
The Treasury Wine share price has surged 12% higher to $11.38. This follows the release of its half year results yesterday. For the six months ended 31 December, the wine company reported a 23% decline in EBITS to $284.1 million. The company also revealed plans to implement a new divisional operating model. This aims to maximise the benefits of a separate focus across its brand portfolios, rather than regions. From FY 2022, the company will operate under three new internal divisions: Penfolds, Treasury Premium Brands, and Treasury Americas. Analysts at Ord Minnett were pleased and have upgraded its shares today.
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*Returns as of February 15th 2021
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. recommends IPH Ltd. The Motley Fool Australia owns shares of and has recommended Treasury Wine Estates Limited. The Motley Fool Australia has recommended IPH Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.