In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to start the week with a decent gain. At the time of writing, the benchmark index is up 0.35% to 7,469 points.
Four ASX shares that are climbing more than most today are listed below. Here’s why they are storming higher:
Cardno Limited (ASX: CDD)
The Cardno share price is up 3.5% to $1.62. This morning the company announced the strategic review of its International Development Business. This will include an assessment of acquisition, merger or sale options with a view to enhancing value for Cardno shareholders. Cardno also notes that it has received a number of unsolicited approaches in relation to the business in recent weeks.
Incitec Pivot Ltd (ASX: IPL)
The Incitec Pivot share price is up 5% to $3.28. This follows the release of the agricultural chemicals company’s full year results this morning. Incitec Pivot reported a 10% lift in revenue to $4,348.5 million and 91% jump in net profit after tax (NPAT) excluding individually material items to $209 million. The Fertilisers APAC business drove the strong result. It benefited from a commodity price upswing and strong ammonium phosphates production.
Mesoblast limited (ASX: MSB)
The Mesoblast share price has jumped 12% to $1.91. Investors have been buying the allogeneic cellular medicines developer’s shares after it released positive data from a phase three trial. That trial was studying rexlemestrocel-L in 565 patients with New York Heart Association class II and class III chronic heart failure with reduced ejection fraction. The data revealed some very promising results which has got investors excited.
WiseTech Global Ltd (ASX: WTC)
The WiseTech Global share price is up 2.5% to $56.02. This is despite there being no news out of the logistics solutions company today. However, a number of tech shares are pushing higher today following a strong night of trade for the Nasdaq index on Friday. The S&P/ASX All Technology Index is up 1.1% at the time of writing.
The post Why Cardno, Incitec Pivot, Mesoblast, and WiseTech are storming higher appeared first on The Motley Fool Australia.
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More reading
- These ASX 200 shares could be set to face fresh pressure over climate action
- ASX 200 (ASX:XJO) midday update: Incitec Pivot and Mesoblast jump, NAB drops
- Mesoblast (ASX:MSB) share price surges 9% higher on trial update
- Incitec Pivot (ASX:IPL) share price leaps 17% after 91% profit jump
- These are the 10 most shorted ASX shares
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 shares of and has recommended WiseTech Global. The Motley Fool Australia owns shares of and has recommended WiseTech Global. 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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