In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to record a solid gain. At the time of writing the benchmark index is up 0.8% to 6,173.9 points.
Four shares that have climbed more than most today are listed below. Here’s why they are storming higher:
The Corporate Travel Management Ltd (ASX: CTD) share price has jumped 9% to $13.26 following the release of its full year results. Although the corporate travel specialist reported a loss of $8.2 million, a better than expected performance in July caught the eye of investors. The company’s bookings in July were greater than in June. It feels this suggests a broad-based recovery in corporate travel activity is underway.
The CSL Limited (ASX: CSL) share price has jumped 6% to $310.91 after delivering a solid FY 2020 result. The biotherapeutics company delivered a 7.2% increase in reported sales revenue to US$8,797 million and a 9.6% lift in net profit after tax to US$2,103 million. This was driven by solid growth from both its CSL Behring and Seqirus vaccines businesses during the year. And while plasma collection difficulties will weigh on its performance next year, management still expects to deliver top and bottom line growth.
The Domino’s Pizza Enterprises Ltd (ASX: DMP) share price has stormed 8% higher to $82.83. This follows the release of a strong full year result in FY 2020. Domino’s delivered global sales of $3.27 billion, up 12.8% on the prior corresponding period. This was driven by strong online and same store sales growth. Digital sales were up 21.4% to $2.36 billion, which accounts for 72.1% of totals.
The WiseTech Global Ltd (ASX: WTC) share price has rocketed 22% higher to $25.47. Investors have been buying the logistics solutions company’s shares after it overcame COVID-19 headwinds to deliver a 23% increase in revenue and a 17% lift in EBITDA in FY 2020. Looking ahead, management provided FY 2021 guidance for EBITDA growth of 22% to 42%.
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More reading
- The latest ASX stocks upgraded by brokers to “buy” today
- WiseTech share price jumps 12% on solid revenue growth and dividend
- Corporate Travel Management share price on watch
- The highest paid CEOs in the ASX 200
- Domino’s share price on watch as free cash flow surges 90%
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 CSL Ltd. and WiseTech Global. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended Domino’s Pizza Enterprises Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. 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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