Whilst relatively small in comparison to the United States, Australia boasts a very vibrant and exciting financial technology (fintech) sector. The sector has produced world class companies like Xero Limited (ASX: XRO) and buy now, pay later (BNPL) giant Afterpay Ltd (ASX: APT). However, it was not a good start to the week for ASX fintech shares, with many falling as much as high single digits during Monday’s trade.

Payments processing

Tyro Payments Ltd (ASX: TYR) was one of the few fintech companies to see its share price rise yesterday. Tyro is a payment processing company. Outside of the big four banks, it is Australia’s largest EFTPOS provider of all the authorised deposit-taking institutions (ADIs). From 25 March, the company has been reporting its transactions weekly, for transparency purposes, during the pandemic. 

On Monday, Tyro posted its 15th such update. This showed an increase in total transaction volume from the previous week. The Tyro share price rose by 1.2% on Monday and has continued climbing today.

In contrast, another payments processing company, Pushpay Holdings Ltd (ASX: PPH), saw its share price fall by 2.67% yesterday. Meanwhile giftcard company EML Payments Ltd (ASX: EML) also recorded a share price fall of 4.14% during Monday’s trade.

Buy now, pay later

Afterpay had a relatively flat day yesterday, only falling by 0.18%. Its BNPL cohorts, however, fared much worse. Sezzle Inc (ASX: SZL) tumbled by 6.75%, Zip Co Ltd (ASX: Z1P) by 6.61% and Splitit Ltd (ASX: SPT) by a substantial 9.16%.

Among all the BNPL companies, I believe only Zip Co is what could be classified a mature organisation with other developed credit products. It also owns the free personal budgeting software Pocketbook. All the others are pure play, BNPL companies with, in my opinion, escalating valuations and no profits on the immediate horizon.

However, that is how growth shares work. At the moment, the BNPL sector is the wild west. Regulators are yet to catch up and companies are rapidly pushing into markets that are wide open. Share price volatility is part of the risk that comes with investing in these companies. Generally, the smaller the company, the greater the volatility. 

Having said that, I think the BNPL fintech companies are likely to do very well over the medium term; say, 2 – 3 years. As our economies emerge from the pandemic, there will undoubtedly be extensive financial fallout. As such, access to short-term credit is going to be a welcome method for many consumers to buy what they want, but can’t immediately afford.

Foolish takeaway

Volatility is a natural part of investing in any growth organisation and many of the companies mentioned above are growing rapidly in niche areas. Tyro, in particular, is actually helping to provide the market with a fully transparent view of the wider health of the retail sector. All three payments processing providers mentioned are mature companies with well developed revenue streams. I expect them all to do well during earnings season.

In the BNPL space, earnings season will definitely help to inform investors about the performance of the major players against key growth metrics. While many are not currently profitable, they are growing at a very rapid rate. They are also attracting a great deal of attention from the market with Splitit, for example, recently signing a partnership deal with Mastercard. 

More reading

• Afterpay shares have exploded 142% in FY20
• The Zip Co share price is up 65% in 12 months
• The top 10 performing ASX shares over the past year
• Why Pushpay, Ramelius, Saracen, & WiseTech are dropping lower
• These 3 companies have incredible switching cost moats

Daryl Mather owns shares of Sezzle Inc. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Emerchants Limited, PUSHPAY FPO NZX, Tyro Payments, Xero, and ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Emerchants Limited, PUSHPAY FPO NZX, and Sezzle Inc. 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.

The post Can ASX fintech shares withstand a falling market? appeared first on Motley Fool Australia.

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So far, 2020 has been a rough year for income investors. With the onset of coronavirus, many companies cut or deferred dividends. But there are still many ASX companies offering decent dividend shares if you know where to look. We take a look at 4 ASX-listed companies which are still offering strong dividend yields. 

Harvey Norman Holdings Ltd (ASX: HVN)

The Harvey Norman share price has gained 43% from its March low, but the company is still offering an attractive dividend yield of nearly 6%. Harvey Norman has seen sales increase as a result of lockdowns, with customers upgrading their home environments. In 2H FY20 (to 31 May) total Australian franchises sales increased 17.5%. The company paid an interim dividend of 6 cents per share yesterday as well as a special dividend of 6 cents per share.

Fortescue Metals Group Limited (ASX: FMG)

The Fortescue Metals share price has regained 60% from its March low but is still offering a dividend yield of above 7%. The company reported record iron ore shipments in the third quarter of 42.3 million tonnes, 10% higher than Q3 FY19. Fortescue’s dividend policy is to maintain a payout ratio of 50%–80% of full-year net profit after tax (NPAT). Fortescue paid an interim dividend of 76 cents per share in April. 

AGL Energy Limited (ASX: AGL)

The AGL Energy share price is up 10% from its March low, with the electricity company offering a dividend yield of 6.6%. Statutory earnings per share increased 12% in the first half to 49.7 cents, however underlying earnings per share fell 10% to 66.4 cents. AGL’s dividend policy targets a payout ratio of 75% of the underlying profit after tax. AGL paid an interim dividend of 47 cents per share in March. 

Boral Limited (ASX: BLD)

The Boral share price is up 115% since its March low but the building products company is still an attractive dividend share offering a yield of 6%. Boral’s operations are considered to be within the critical construction sectors that were encouraged to continue operating as essential businesses throughout COVID-19. Boral’s revenue was flat during the first half, however net profit attributable to members fell 40.3%. An interim dividend of 9.5 cents per share was paid, down from 14 cents in the prior corresponding period. In the second half, revenues have been down due to the impacts of COVID-19. Nonetheless, Boral stands to benefit as economic recovery gains traction. 

More reading

• Why James Hardie and its peers are surging higher today
• Is CommBank still the best ASX dividend share to buy?
• E-commerce is the COVID-19 success story. These businesses are the clear winners.
• Fortescue Metals and 2 other ASX 200 shares to buy in a recession
• Why Fortescue and these ASX dividend shares could be top income options

Motley Fool contributor Kate O’Brien has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Zip Co Ltd (ASX: Z1P) share price is pushing higher on Tuesday and is up almost 1% to $5.13.

If things stay this way, the buy now pay later provider’s shares will end the current financial year with a 65% gain.

Why is the Zip Co share price up 65% in 12 months?

After a reasonably mixed first half of the financial year, Zip Co’s shares have been on fire in the second half for a couple of reasons.

The first has been its strong sales, customer growth, and bad debt performance in FY 2020 despite the pandemic.

For example, during the third quarter, Zip Co delivered an 84% increase in quarterly transaction volume to $518.7 million, a 96% lift in quarterly revenue to $45 million, and a 67% jump in customer numbers to 1.95 million.

This strong form continued into April and then into May. For the latter, the company posted monthly transaction volume of $189.3 million and revenue of $15.6 million. This was a 63% and 78% increase, respectively, over the same period last year.

It also added 65,000 new customers in May, lifting its total to 2.1 million. This represents a total increase of 63% since the same time last year.

Importantly, although it has risen slightly, Zip’s net bad debt stood at 2.16% at the end of May. This is in-line with expectations and significantly outperforming the market average. Furthermore, lead indicators are pointing to a reduction in bad debts in the months ahead.

U.S. expansion.

Another catalyst for its strong share price gain has been its decision to take on Afterpay Ltd (ASX: APT) in the $5 trillion U.S. retail market.

Zip Co will enter the lucrative market after signing an agreement to acquire New York-based buy now pay later provider QuadPay.

QuadPay is a leading, high growth, instalment provider with a strong focus on innovation and customer centricity. It has 1.5 million customers and 3,500 merchants on its platform. From these it is currently generating annualised total transaction value of over $900 million and annualised revenue of $70 million.

Is it too late to buy Zip shares?

I think the acquisition of an established player in the U.S. market was a great move, rather than launching from scratch.

If the company can make a success of its U.S. expansion, which I’m optimistic that it will, then it could grow materially over the next decade and generate strong returns for investors.

Though, I would only buy Zip’s shares if you’re prepared to make a long term investment and have a high tolerance for risk.

More reading

• Why Galaxy, Jumbo, Webjet, & Zip Co shares are sinking lower
• Could the Afterpay share price really be good value right now?
• Do you want to get rich by investing? Then do this
• Purchasing Openpay shares in March in would have pocketed you this return
• 3 ASX payments shares that could double your money

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 ZIPCOLTD FPO. The Motley Fool Australia owns shares of AFTERPAY T FPO. 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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On Monday I looked at three ASX shares that brokers have given buy ratings to this week.

Unfortunately, not all shares are in favour with them right now. Three that have just been given sell ratings are listed below.

Here’s why these brokers are bearish on these ASX 200 shares:

Fisher & Paykel Healthcare Corp Ltd (ASX: FPH)

According to a note out of Citi, its analysts have retained their sell rating but lifted their price target on this medical device company’s shares to NZ$22.75 (A$21.25). Although the broker acknowledges that the medical device company delivered a strong full year result this week and its guidance for FY 2021 could be conservative, it still has issues with its valuation. The broker believes its shares are trading on excessive multiples. The Fisher & Paykel Healthcare share price is changing hands for $32.71 today.

Newcrest Mining Limited (ASX: NCM)

A note out of the Macquarie equities desk reveals that its analysts have downgraded this gold mining giant’s shares to an underperform rating with a $28.00 price target. Macquarie has made sweeping downgrades to a range of gold miners today. Its analysts aren’t as positive on the industry anymore due to the strengthening Australian dollar. It expects this to impact the industry’s earnings growth in the near term. The Newcrest share price is up slightly to $31.43 this afternoon.

Qantas Airways Limited (ASX: QAN)

Analysts at Credit Suisse have retained their underperform rating and lifted the price target on this airline operator’s shares to $3.00. Although the broker sees positives in its recovery plan, it has warned that there are risks to it. In addition to this, Credit Suisse has previously suggested that a full recovery could take until FY 2023. In light of this, it doesn’t appear to see any reason to rush in at this price. Qantas shares are up at $3.88 this afternoon.

More reading

• Why James Hardie and its peers are surging higher today
• ASX 200 up 1.2%: Big four banks rebound, WiseTech CEO dumps shares, Collins Foods impresses
• Why Brickworks, Collins Foods, Corporate Travel, & Fisher & Paykel Healthcare are shooting higher
• The top 10 performing ASX shares over the past year
• Is it time for a plan B with ASX 200 shares?

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The Regional Express Holdings Ltd (ASX: REX) share price is pushing higher again on Tuesday and has now soared 27.66% in two days.

This rise comes on the back of an update from the airline on Monday regarding its plans to commence domestic operations.

Rex is Australia’s largest independent regional airline. It operates a fleet of 60 Saab 340 aircraft which, prior to COVID-19, were making some 1,500 weekly flights to 60 destinations throughout all states in Australia.

3 airlines for Australia?

Back in May, Rex confirmed reports that it was looking into the feasibility of commencing domestic airline operations.

The company revealed it had been approached by several parties interested in providing the equity needed for it to start domestic operations in Australia. At the time, the preliminary estimate of equity required was thought to be in the vicinity of $200 million.

Rex concluded this announcement by stating it intended to make a decision on whether or not to proceed with domestic operations within the next 8 weeks.

Preparing for take-off

That decision was delivered yesterday, with Rex revealing that its board had concluded the company could successfully embark on domestic operations.

As a result, the board has approved an initiative to raise a minimum of $30 million, which it believes is all that is needed for the launch of limited domestic operations. 

Rex noted that discussions with interested parties, which includes lessors and private equity funds, have not been finalised. The board will reconvene in 3 weeks to decide on the structure of the fund raising and the maximum amount that will be raised.

Nonetheless, due to the strong interest shown by various external parties to participate in the raising, Rex is confident in securing the minimum funding amount of $30 million.

Accordingly, management have commenced preparations for the operation of an initial fleet of 5 to 10 narrow-body aircraft to be based out of Sydney and/or Melbourne. This fleet will service ‘golden triangle’ routes between Sydney, Melbourne and Brisbane.

Subject to fund availability and regulatory approval, Rex is targeting 1 March 2021 as the starting date for these operations.

Management commentary

Commenting on the company’s expansion plans, deputy chair John Sharp said:

“With Rex’s expansive regional network of 60 destinations, existing infrastructure in all these capital city airports, superior efficiencies and unbeatable reliability, it will simply be an incremental extension for Rex to embark on domestic operations especially since one out of every ten flights in Australia was already a Rex flight during the pre-COVID days.”

“Leveraging on Rex’s existing infrastructure and overheads, our cost base for the domestic operation is estimated to be at least 35% below Virgin’s Australia’s (pre-COVID) with 50% lower additional headcount needed proportionately,” Mr Sharp added.

Additionally, Mr Sharp revealed that these domestic operations will be priced at “affordable” levels but will still include baggage allowance, on-board meals, and pre-assigned seating.

Rex shares have followed up yesterday’s 17.02% gain with another notable jump of 9.09% today (at the time of writing). With shares last changing hands at $1.20, the Rex share price is relatively flat year to date. 

More reading

• What’s next for these 4 ASX travel shares?
• Why the Alliance Airlines’ share price is surging higher

Motley Fool contributor Cathryn Goh has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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The James Hardie Industries plc (ASX: JHX) share price, Brickworks Limited (ASX: BKW) share price and Boral Limited (ASX: BLD) share price are among the best performing stocks on the ASX today.

Shares in James Hardie jumped 6% in late morning trade to $27.57 while Boral rallied 6.9% to $3.90 and Brickworks added 6.1% to $15.80. In contrast, the S&P/ASX 200 Index (Index:^AXJO) gained 1.3%.

You might be making a connection between these outperformers. All three supply building construction products and they have significant US exposure.

Pending home sales hits record

The big run by these stocks come after US pending home sales surged by a record in May to beat market expectations by a mile.

The National Association of Realtors reported overnight that its index of existing home sales surged 44.3% last month to 99.6, according to Reuters.

That’s the biggest monthly improvement since the creation of the index in 2001 and economists polled by Reuters were only forecasting an 18.9% rebound in May.

V-shape recovery potential

The bigger-than-expected increase in signed contracts is exciting investors as it indicates that the US housing market will stage a V-shape recovery.

Pending sales are a lead indicator as they convert into sales after a month or two. The number of home resales in May tumbled to a 9.5-year low.

Further, home loan applications are supporting the V-shape thesis as they are near an 11-year high, while building permits recovered sharply in the same month.

Cracks in the bullish picture

The good news comes as the country records ever higher rates of COVID-19 infections that threatens the reopening in several states.

The rapid spread of the virus that makes the US the epicentre of the coronavirus pandemic is the biggest threat to these three ASX stocks.

Further, the Pending Home Sales Index is still well below its 111.4 level that it hit in February before COVID-19 sharply curtailed economic activity.

ASX stocks to buy for FY21

However, I think the sector can keep outperforming barring a big shutdown in the US economy, which doesn’t look likely.

This isn’t because there isn’t a medical emergency, but because the politics won’t allow for it – not when the country remains this divided ahead of the presidential election in November.

James Hardie remains my key pick in the industrials space for management’s track record in creating shareholder value.

If you are looking for other well-priced stocks to buy for FY2021, the experts at the Motley Fool published this free report on some of their best buy ideas for the year ahead.

Follow the free link below to download your report.

More reading

• ASX 200 up 1.2%: Big four banks rebound, WiseTech CEO dumps shares, Collins Foods impresses
• Why Brickworks, Collins Foods, Corporate Travel, & Fisher & Paykel Healthcare are shooting higher
• The top 10 performing ASX shares over the past year
• Brickworks and Goodman shares jump on Amazon deal
• Is it time for a plan B with ASX 200 shares?

Motley Fool contributor Brendon Lau owns shares of James Hardie Industries plc. Connect with me on Twitter @brenlau.

The Motley Fool Australia owns shares of and has recommended Brickworks. 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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At lunch on Tuesday the S&P/ASX 200 Index (ASX: XJO) is on course to record a strong gain. The benchmark is currently up 1.2% to 5,886.1 points.

Here’s what has been happening on the market today:

Big four banks rebound.

The big four banks have bounced back from yesterday’s sizeable declines with some strong gains. All four banks are pushing higher at lunch and are helping drive the ASX 200 higher. The best performer in the group is the Westpac Banking Corp (ASX: WBC) share price. At the time of writing, the shares of Australia’s oldest bank are up 2%.

Brickworks and Goodman sign deal with Amazon.

Both Brickworks Limited (ASX: BKW) and Goodman Group (ASX: GMG) shares have been pushing higher on Tuesday after announcing that their joint venture has signed a deal with Amazon. The tech giant has agreed a lease pre-commitment for 20 years at the Oakdale West Estate in Western Sydney. The Brickworks and Goodman joint venture will build a new state of the art distribution facility at Oakdale West. This complements a similar agreement with Coles Group Ltd (ASX: COL) at the site.

WiseTech CEO dumps shares.

The WiseTech Global Ltd (ASX: WTC) share price is tumbling lower today after the logistics solutions company revealed heavy insider selling. According to the announcement, over the past few trading days its founder and CEO, Richard White, has sold almost $46 million worth of shares. No explanation was provided. While this was a large sale, the chief executive continues to have voting control over approximately 151 million WiseTech Global shares. This represents approximately 46.9% of the issued capital of WiseTech Global.

Best and worst ASX 200 shares.

The Collins Foods Ltd (ASX: CKF) share price is the best performer on the ASX 200 on Tuesday by some distance. At lunch the quick service restaurant operator’s shares are up 14% following the release of its full year results this morning. The worst performer has been the Saracen Mineral Holdings Limited (ASX: SAR) share price with a decline of almost 3%. This morning Macquarie downgraded the gold miner to a neutral rating.

More reading

• Why James Hardie and its peers are surging higher today
• Why Brickworks, Collins Foods, Corporate Travel, & Fisher & Paykel Healthcare are shooting higher
• The top 10 performing ASX shares over the past year
• Why Pushpay, Ramelius, Saracen, & WiseTech are dropping lower
• Brickworks and Goodman shares jump on Amazon deal

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited and Westpac Banking. The Motley Fool Australia owns shares of and has recommended Brickworks. The Motley Fool Australia owns shares of COLESGROUP DEF SET and WiseTech Global. The Motley Fool Australia has recommended Collins Foods 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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The best time to buy ASX shares is when they’re at a low price. But investors don’t push share prices down for no reason. Share prices only go down when there’s something to worry about.

However, it’s not often that businesses can turn around their fortunes. 

I think these ASX shares could make a big turnaround:

Share 1: Vitalharvest Freehold Trust (ASX: VTH)

Vitalharvest is an agricultural real estate investment trust (REIT). It owns citrus and berry farms which are leased to Costa Group Holdings Ltd (ASX: CGC).

The Vitalharvest share price has fallen 16% over the past year despite Australia interest rates now being at a record low.

The current setup is that Vitalharvest earns two types of rent. It earns a fixed amount of rent from its farms, there is also a fixed return for any improvements made to the farms. However, Vitalharvest also has a profit-share agreement with Costa at the Vitalharvest farms. There has been some difficulties at the farms recently, which has hurt the variable earnings and sentiment.

But things could soon improve for Vitalharvest after it was announced that Primewest Group Ltd (ASX: PWG) had acquired the management rights of Vitalharvest. Primewest is a property manager that manages $4.1 billion of assets across a number of sectors. Primewest has also acquired an 11.8% interest of Vitalharvest.

Vitalharvest will be renamed Primewest Agri-Chain Fund. It will invest in agriculture property and other assets that are critical to the agricultural supply chain like processing and manufacturing facilities for food, food and beverage packaging facilities and storage facilities related to food. It will be looking for long-term tenants and it will target high quality locations throughout Australia and New Zealand.

I think that the right acquisitions could excite investors and grow the net asset value per share (as well as the share price). Plus, a good result from Costa would help things too. 

Share 2: BWX Ltd (ASX: BWX)

BWX is a leading natural beauty business with a variety of brands including Sukin.

The company hasn’t given an official update since its FY20 half-year result, nor has it done a capital raising. Hopefully that means no news is good news. It may also mean it’s still on track to meet its full year FY20 guidance of revenue growth of 20% to 25% and earnings before interest, tax, depreciation and amortisation (EBITDA) growth of 25% to 35%.

You may not have believed it could achieve that type of growth a couple of years ago. The new management has really turned things around.

I thought the FY20 half-year result was very impressive from the ASX share with revenue growth of 23% and statutory net profit growth of 63%. The gross profit margin increased by 20 basis points compared to the first half of FY19.

A strong point for BWX is that it’s growing all its major brands, and it’s growing in Australia, Asia and North America. It’s on track to become a $50 million supermarket skincare business in Australia and a $100 million skincare business in the US.

Whilst Sukin is still the key brand and generating the most growth, the US brands are showing solid growth too. In the FY20 half-year result Andalou Naturals grew revenue by 15% to $26.2 million and Mineral Fusion grew revenue by 28% to $12.7 million.

If BWX keeps growing like this it then it’s got a great chance of producing market-beating returns.  

Share 3: Reject Shop Ltd (ASX: TRS)

Reject Shop is a business on the up already. I think that could continue once investors see the next result.

The ASX share had stabilised itself at the FY20 half-year result where it reported half-year sales were up 0.7% with comparable sales growth of 0.5%. In that result Reject Shop reported that net profit after tax (pre-AASGB 16) was up 5.3% to $11.1 million.

Reject Shop made an announcement on 23 March 2020. It said at that point that in the last four weeks it had experienced a material increase in sales due to customer concerns about the coronavirus. Comparable sales growth for the first twelve weeks of the second half of FY20 was 8.2%.

Comparable sales growth for the week between 16 March 2020 to 22 March 2020 was 36.1%. This was driven by strong category performances in groceries, cleaning, toiletries and pet care.

I don’t expect the ASX share will keep growing like it was during the first set of restrictions, but I think the company may have turned a corner, particularly if customers remain focused on good value shopping.

Foolish takeaway

I think each of these shares is a good turnaround idea. I’d pick Vitalharvest for income and BWX for growth. I’m a little less sure of retail – it’s a brutal industry which is steadily moving online.

More reading

• ABS reveals which industries (and ASX shares) may rebound hard after COVID-19
• 3 top ASX growth shares to buy for FY21
• 3 star ASX shares to buy for the rest of 2020
• Top fund manager reveals some of the best ASX shares to own
• 3 ASX shares to buy for 2021

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended BWX Limited and COSTA GRP FPO. 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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In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to rebound strongly from yesterday’s selloff. At the time of writing the benchmark index is up 1.55% to 5,905.9 points.

Four shares that are climbing more than most today are listed below. Here’s why they are shooting higher:

The Brickworks Limited (ASX: BKW) share price has jumped 7% higher to $15.93. Investors have been buying the company’s shares after it released an announcement relating to its joint venture with Goodman Group (ASX: GMG). According to the release, the joint venture has agreed a lease pre-commitment for 20 years with tech giant Amazon at the Oakdale West Estate in Western Sydney. The joint venture will build a new state of the art distribution facility at Oakdale West.

The Collins Foods Ltd (ASX: CKF) share price has surged over 16% higher to $9.73. The catalyst for this impressive gain was the release of its full year results this morning. The KFC and Taco Bell restaurant operator revealed an 8.9% increase in revenue and a 5.1% lift in underlying net profit after tax. The company also declared a 10.5 cents per share fully franked final dividend.

The Corporate Travel Management Ltd (ASX: CTD) share price is up over 6% to $9.98. This gain may have been driven by a broker note out of Bell Potter. It has just named the corporate travel specialist as one of its top picks in the Industrials sector for FY 2021. It has a buy rating and $13.75 price target on the company’s shares.

The Fisher & Paykel Healthcare Corp Ltd (ASX: FPH) share price is up almost 3% to $32.56. This morning analysts at Goldman Sachs responded positively to its full year results by lifting their price target materially. Goldman Sachs has retained its buy rating and increased its price target by 22% to $33.90. The broker has also suggested that Fisher & Paykel Healthcare’s FY 2021 guidance could be conservative.

More reading

• The top 10 performing ASX shares over the past year
• Brickworks and Goodman shares jump on Amazon deal
• Collins Foods share price rockets 14% higher on FY 2020 result
• Saracen Mineral and 2 other companies defying the ASX 200
• 5 things to watch on the ASX 200 on Tuesday

Motley Fool contributor James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia owns shares of and has recommended Brickworks and Corporate Travel Management Limited. The Motley Fool Australia has recommended Collins Foods 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.

The post Why Brickworks, Collins Foods, Corporate Travel, & Fisher & Paykel Healthcare are shooting higher appeared first on Motley Fool Australia.

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Over the past 12 months, the S&P/ASX 200 (INDEXASX: XJO) is down 11%. But some ASX shares have bucked the trend and recorded major gains. We take a look at the top 10 performers over the past year. 

Afterpay Ltd (ASX: APT)

The Afterpay share price is up a massive 136% over the past year. The buy-now-pay-later (BNPL) provider has seen huge growth in customer numbers which has contributed to the rising share price. Last month Afterpay reached 5 million customers in the US, and this month the company recorded more than 1 million customers in the UK. 

Perseus Mining Limited (ASX: PRU)

The Perseus Mining share price is up 124% over the past year and made it into the S&P/ASX 100 (INDEXASX: XTO) in the most recent rebalance. The gold miner produced 57,983 ounces of gold in Q3 FY20 and has benefitted from the recent rise in the gold price. The gold price has increased from around A$2,100 an ounce in January to closer to A$2,600 an ounce currently. 

Mesoblast Limited (ASX: MSB)

The Mesoblast share price has gained 123% over the past year and joined the S&P/ASX 100 in the most recent quarterly rebalance. The Mesoblast share price has surged since March on speculation its potential treatment for coronavirus will reach commercial production. The company’s stem cell product candidate remestemcel-L has shown promising results in treating chronic obstructive pulmonary disease. 

Fisher & Paykel Healthcare Corporation Ltd (ASX: FPH)

The Fisher & Paykel Healthcare share price has gained 113% over the past year. The healthcare company announced record results for the New Zealand financial year ended 31 March 2020. Operating revenue increased 18% to $1.26 billion, leading to a 37% increase in net profit which reached $287.3 million. The increase in revenue was primarily driven by growth in the use of Fisher & Paykel Healthcare’s Optiflow nasal high flow therapy, demand for products to treat COVID-19, and strong hospital hardware sales. The company was already on track to deliver strong growth before the onset of coronavirus, then beginning in January demand for respiratory humidifiers accelerated to an unprecedented extent. 

Megaport Ltd (ASX: MP1)

The Megaport share price is up 82% over the past 12 months with the company also joining the S&P/ASX 100 this month. Megaport is a leader in the network-as-a-service space, providing connectivity via 601 data centres worldwide. Monthly recurring revenue increased by 19% in March to reach $5.4 million. The technology firm boasts 1,777 customers including Amazon.com, Inc. (NASDAQ: AMZN), Uber Technologies Inc (NYSE: UBER), Facebook, Inc. Common Stock (NASDAQ: FB), BHP Group Ltd (ASX: BHP), and REA Group Limited (ASX: REA). 

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price has gained 79% over the past year. Same-store sales in Australia remained consistent post-COVID-19 at a national level. Stores in Japan and Germany have maintained their strong sales performance, while stores in New Zealand and France have reopened following coronavirus shutdowns. COVID-19 caused some franchisees to pause expansion plans temporarily. The pause affected the timing of store openings and franchising, but not the strategy. Over the medium-term Domino’s plans to increase store numbers by 7%–9% per year and increase same-store sales by 3%–6% per year.  

Silver Lake Resources Limited. (ASX: SLR)

The Silver Lake Resources share price has gained 79% over the past year. Another miner to benefit from the rising gold price, Silver Lake Resources produces 65,548 million ounces of gold in the March quarter. The miner also produced 438 tonnes of copper. During the quarter Silver Lake Resources reported record sales of 68,183 ounces of gold at an average price of $2,170 an ounce. All-in sustaining costs of production were $1,380 an ounce. In April the company upgraded its FY20 sales guidance to 250,000 to 260,000 ounces of gold equivalent. 

Polynovo Ltd (ASX: PNV)

The PolyNovo share price has gained 72% over the past year. The healthcare company is behind a biodegradable polymer technology with applications in the dermal scaffold, hernia, and breast markets. The value of near-term addressable markets is estimated at US$7.5 billion. Sales revenue increased 129% in 1H FY20 to $8.57 million. Record sales were recorded in the US in March, and Australia and New Zealand are on track for a strong Q3. The company is building a factory to produce its hernia products which is expected to be completed in July 2020. PolyNovo plans to enter the US$1.5 billion United States hernia market in July or August 2021. 

JB Hi-Fi Ltd (ASX: JBH)

The JB Hi-Fi share price is up 67% over the past 12 months with sales accelerating during coronavirus lockdowns. In 2H FY20 to date, JB Hi-Fi Australia’s sales are up 20%, while The Good Guys sales are up 23.5%. The strong sales growth has come as customers spend more time working and learning from home. Additional operating costs have been incurred but have been more than offset by elevated sales growth and disciplined cost control. New Zealand stores were impacted by temporary closures which means 2H FY20 sales to date have dropped 19.3%, however, this is a small portion of the company’s overall business. Over the full year, JB Hi Fi has estimated net profit after tax will be $300–$305 million, an increase of 20% to 22% on the prior corresponding period. 

Gold Road Resources Ltd (ASX: GOR)

The Gold Road Resources share price is up 64% over the past year, assisted by the surge in the gold price. During Q3 Fy20, its Gruyere mine produced 59,595 ounces of gold and remains on track to meet annual guidance of 250,000 – 285,000 ounces of gold. Gold Road Resources repaid and retired a $50 million working capital facility during the quarter. It ended the quarter in a strong liquidity position with cash and bullion on hand of $115 million. The company’s $100 million revolving credit facility was drawn to $80 million giving Gold Road Resources a net cash position of $35 million. 

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John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool’s board of directors. Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to its CEO, Mark Zuckerberg, is a member of The Motley Fool’s board of directors. Kate O’Brien owns shares of Amazon, BHP Billiton Limited, and POLYNOVO FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Amazon and Facebook. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of MEGAPORT FPO and POLYNOVO FPO. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. recommends Uber Technologies and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended Amazon, Domino’s Pizza Enterprises Limited, Facebook, MEGAPORT FPO, and REA Group 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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