The S&P/ASX 200 Index (ASX: XJO) has come under pressure on Wednesday. In afternoon trade, the benchmark index is down 0.2% to 7,336.2 points.
Four ASX shares that arenât letting that hold them back today are listed below. Hereâs why they are charging higher:
Hub24 Ltd (ASX: HUB)
The Hub24 share price is up almost 11% to $29.87. Investors have been buying this investment platform providerâs shares following the release of its half-year results. For the six months ended 31 December, Hub24 reported an 87% increase in net profit after tax to $26.6 million.
Johns Lyng Group Ltd (ASX: JLG)
The Johns Lyng share price is up over 15% to $6.47. This morning, the integrated building services company released its half-year results and reported a 63% increase in first-half EBITDA. This strong half has led to the company upgrading its revenue and EBITDA forecasts for the full year.
Judo Capital Holdings Ltd (ASX: JDO)
The Judo Capital share price is up 5% to $1.52. This has been driven by the business lending companyâs half year results, which revealed a 322% increase in pre-tax profits to $53.2 million. This was underpinned by a 23% increase in gross loans and advances and a 72 basis points increase in its underlying net interest margin to 3.56%.
Magnis Energy Technologies Ltd (ASX: MNS)
The Magnis share price has jumped 8% to 43.7 cents. This morning, this lithium-ion battery technology and materials company revealed that it has entered into a binding offtake agreement with electric vehicle giant Tesla for the supply of anode active materials (AAM) from February 2025. Tesla will purchase a minimum 17,500 tonnes per annum (tpa) with the option to buy up to 35,000 tpa for a minimum three-year term at a fixed price.
The post Why Hub24, Johns Lyng, Judo Capital, and Magnis shares are charging higher appeared first on The Motley Fool Australia.
FREE Beginners Investing Guide
Despite what some people may say – we believe investing in shares doesn’t have to be overwhelming or complicated…
For over a decade, we’ve been helping everyday Aussies get started on their journey.
And to help even more people cut through some of the confusion “experts’” seem to want to perpetuate – we’ve created a brand-new “how to” guide.
Yes, Claim my FREE copy!
*Returns as of February 1 2023
(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}
setButtonColorDefaults(“#0095C8”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#0095C8”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()
More reading
- Guess which ASX 200 share is surging 16% following a revenue upgrade
- 2 ASX 300 shares making big gains on results announcements
- Hub24 share price up 9% on record half-year results and turbocharged dividend
- Magnis share price rockets 23% on Tesla deal
- Why is ASX lithium share Magnis in a trading halt?
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. has positions in and has recommended Hub24, Johns Lyng Group, and Judo Capital. The Motley Fool Australia has positions in and has recommended Hub24. The Motley Fool Australia has recommended Johns Lyng Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
from The Motley Fool Australia https://ift.tt/BlVSuOF
Stock Pick 