3 All Ords stocks rocketing over 10% on Thursday

Man with rocket wings which have flames coming out of them.Man with rocket wings which have flames coming out of them.

The S&P/ASX All Ordinaries Index (ASX: XAO) is down 0.4% while these three companies are shooting the lights out. Each one is enjoying more than a 10% boost to their share price today.

Let’s find out why this trio of All Ords stocks is screaming higher today.

Blackmores Ltd (ASX: BKL)

The Blackmores share price is currently $93.53, up 21.8%. Earlier in the session, the All Ords stock hit $94, 22.4% higher than yesterday’s closing price.

The health supplements manufacturer is flying high today on news of a $1.9 billion takeover bid.

As my Fool colleague Bernd reports, Blackmores has entered into a scheme implementation deed with Kirin Holdings Company.

Kirin wants to acquire 100% of Blackmores shares for $95 per share, less a fully franked special dividend of $3.34 that the board has announced it will pay if the takeover proceeds.

The Blackmores board has unanimously recommended the scheme, subject to standard conditions.

CEO Alastair Symington said:

Today is an important day in the history of Blackmores … Importantly it also confirms the significant opportunity that lies ahead for our employees and other key stakeholders of Blackmores as both companies come together to combine their focus on growing Kirin’s health science business across the world.

Symbio Holdings Ltd (ASX: SYM)

The Symbio share price is currently $1.90, up 13.4%. Earlier in the session, the All Ords stock hit $1.95, 16% higher than yesterday’s close.

The ASX tech share is on the rise after the voice communications software provider lodged a Q3 FY23 trading update with the ASX and confirmed its full-year FY23 guidance.

The company expects FY23 earnings before interest, tax, depreciation and amortisation (EBITDA) in the range of $26 million to $28 million.

Symbio said stabilised market conditions are driving organic growth and cost-cutting initiatives are expected to create a lower cost run-rate in FY24.

Symbio’s expansion into Singapore, Malaysia and Taiwan has led to a 170% bump in the company’s total addressable market (TAM). The company now estimates its TAM to be 100 million people by 2024.

Co-founder and CEO Rene Sugo said:

We continue to see demand improving from our customers both domestically and globally. The
business has also been focussed on execution of key projects around automation, system
optimisation and improving customer experience through self-service portals and APIs.

Kogan.com Ltd (ASX: KGN

The Kogan share price is currently $4.30, up 11.4%. Earlier in the session, the All Ords stock reached $4.32, 11.9% higher than yesterday’s closing price.

The ASX retail share appears to be riding high on the back of yesterday’s Q3 FY23 business update. Kogan shares closed the session yesterday up 7.2%.

As my Fool colleague Monica reports, investors appear to be pleased with the Q3 numbers and supportive of plans for a buyback of up to 10% of stock, commencing in May.

The company reported three consecutive months of positive EBITDA and ended the quarter with $49.1 million in net cash.

CEO and founder Rusian Kogan said:

The journey to get here has been one of the toughest in our 17 year history, but also one of our most rewarding. It goes without saying – we are a far stronger company today than ever.

The post 3 All Ords stocks rocketing over 10% on Thursday appeared first on The Motley Fool Australia.

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Motley Fool contributor Bronwyn Allen 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 Kogan.com and Symbio. The Motley Fool Australia has positions in and has recommended Kogan.com and Symbio. The Motley Fool Australia has recommended Blackmores. 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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