Why Bega Cheese, Domino's, Lovisa, and Universal Store shares are rocketing today

These ASX shares are catching the eye on Thursday. But why?

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The S&P/ASX 200 Index (ASX: XJO) is lacking direction on Thursday and has just slipped into the red. The benchmark index is currently down slightly to 7,607.6 points.

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

Bega Cheese Ltd (ASX: BGA)

The Bega Cheese share price is up 15% to $4.07. This follows the release of the diversified food company's half-year results. The Vegemite owner reported a 3.2% increase in revenue to $1.73 million and a 263% increase in statutory profit after tax to $26.5 million.

Domino's Pizza Enterprises Ltd (ASX: DMP)

The Domino's share price is up almost 7% to $43.24. Investors have been buying this pizza chain operator's shares since the release of an encouraging half-year result on Wednesday. In addition, this morning analysts at Morgan Stanley responded by reaffirming their overweight rating and $68.00 price target on its shares.

Lovisa Holdings Ltd (ASX: LOV)

The Lovisa share price is up 12% to $27.60. Investors have been buying this fashion jewellery retailer's shares after it reported an 18.2% increase in revenue to $373 million and a 12% lift in net profit after tax to $53.5 million. A key driver of this first-half growth was its ongoing store expansion. This includes its first store openings in China and Vietnam.

Universal Store Holdings Ltd (ASX: UNI)

The Universal Store share price is up 15% to $4.70. This has been driven by the release of the youth fashion retailer's half-year results. It reported an 8.5% increase in sales to $158 million and 16.7% jump in net profit after tax to $20.7 million. This allowed Universal Store board to lift its interim dividend by almost 18% to 16.5 cents per share. This dividend alone equates to an attractive 3.5% dividend yield.

Motley Fool contributor James Mickleboro has positions in Domino's Pizza Enterprises, Lovisa, and Universal Store. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Domino's Pizza Enterprises and Lovisa. The Motley Fool Australia has recommended Domino's Pizza Enterprises and Lovisa. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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