Why Jumbo, Nufarm, Pushpay, and Vulcan Steel charged higher

The S&P/ASX 200 Index (ASX: XJO) was out of form on Tuesday. The benchmark index started the week with a disappointing …

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The S&P/ASX 200 Index (ASX: XJO) was out of form on Tuesday. The benchmark index started the week with a disappointing 2.1% to 7,318 points.

Four ASX shares that have managed to avoid the selloff today are listed below. Here’s why they are pushed higher:

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo share price climbed 3% to $18.27. This morning the lottery ticket seller presented at the Goldman Sachs Emerging Leaders Conference. At the conference, management spoke about its ~$70 billion market opportunity across lottery retailing, software as a service, and managed services.

Nufarm Ltd (ASX: NUF)

The Nufarm share price rose 2% to $6.89. Investors were buying this agricultural chemicals company’s shares after it provided guidance for the first half. Due to strong demand for its crop protection and seed products, Nufarm expects to report half year underling EBITDA of $320 million to $340 million. This is up from $233.6 million during the prior corresponding period, which itself was up 118% from the prior year.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price surged 23% higher to $1.18. This morning the donation technology company released an announcement revealing that it has received takeover interest from unnamed third parties. Pushpay neglected to go into any further details, so it remains unclear how serious the offers are and how much has been tabled.

Vulcan Steel Ltd (ASX: VSL)

The Vulcan Steel share price charged 4% higher to $9.50. This morning the steel company revealed that its revenue for the nine months ended 31 March was up 34% year on year to NZ$700 million. In light of this strong form, Vulcan Steel has increased its EBITDA guidance to NZ$212 million to NZ$218 million. It was previously guiding to EBITDA of NZ$150 million and NZ$160 million.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended Jumbo Interactive Limited and PUSHPAY FPO NZX. The Motley Fool Australia owns and has recommended PUSHPAY FPO NZX. The Motley Fool Australia has recommended Jumbo Interactive Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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