In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end a positive week on a subdued note. The benchmark index is currently down 0.1% to 6,818.2 points.
Four ASX shares that are not letting that hold them back are listed below. Here’s why they are charging higher:
Aussie Broadband Ltd (ASX: ABB)
The Aussie Broadband share price has jumped 7% to $2.65 after providing its guidance for the first half. According to the release, the internet service provider reported 342,634 broadband connections at the end of December. This is up 31% over the last six months and 88% since this time last year. In light of this, it expects to report half year operating earnings of $8 million to $8.5 million excluding IPO costs.
Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)
The Fisher & Paykel Healthcare share price has stormed 7% higher to $32.92. This morning the medical device company revealed that it has continued to experience strong demand for its products. This was particularly the case in the Hospital Products segment, which underpinned a 73% increase in group operating revenue for the nine months ended 31 December 2020. Management also revealed that it expects to outperform its prior guidance for FY 2021.
Lynas Rare Earths Ltd (ASX: LYC)
The Lynas share price has surged 11.5% higher to $5.45. Investors have been buying the rare earths producer’s shares after it provided an update on its US activities. According to the release, the company has entered into an agreement with the United States Government to build a commercial Light Rare Earths separation plant in Texas.
Megaport Ltd (ASX: MP1)
The Megaport share price is up a further 2.5% to $12.98. Investors have been buying the global elastic interconnection services provider’s shares over the last couple of days after Goldman Sachs upgraded them to a buy rating with a $15.00 price target. Goldman believes Megaport will benefit from growing demand for public cloud infrastructure and the broadening of its product suite. The broker also has increased confidence on its path to generating positive free cash flow.
This Tiny ASX Stock Could Be the Next Afterpay
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Because ‘Doc’ Mahanti believes this fast-growing company has all the hallmarks of genuine Moonshot potential, forget ‘buy now pay later’, this stock could be the next hot stock on the ASX.
Doc and his team have published a detailed report on this tiny ASX stock. Find out how you can access what could be the NEXT Afterpay today!
See how you can find out the name of this stock
Returns as of 6th October 2020
More reading
- Here’s why the Lynas (ASX:LYC) share price jumped 7% higher today
- Why the Fisher & Paykel Healthcare (ASX:FPH) share price could jump higher today
- Megaport (ASX:MP1) share price jumps 7% on broker upgrade
- Why Megaport, Netwealth, PointsBet, & Zip shares are racing higher
- 3 ASX shares powering the electric car revolution
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 and recommends MEGAPORT FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Aussie Broadband Limited. The Motley Fool Australia has recommended MEGAPORT FPO. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
The post Why Aussie Broadband, Fisher & Paykel Healthcare, Lynas, & Megaport are charging higher appeared first on The Motley Fool Australia.
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