Despite another heavy fall in the iron ore price overnight, it's been a positive day for the Australian share market after U.S. equity markets reached record highs overnight. As a result, Australia's benchmark S&P/ASX 200 (INDEXASX: XJO) index is trending 15 points or 0.3% higher in mid-afternoon trade.
However, there have been a number of Australian stocks which have delivered far greater gains than that today.
OrotonGroup Limited (ASX: ORL), for example, has extended on its 12.3% rise from yesterday with the stock jumping a further 6.1% today to $4.35. While the stock has declined considerably over the last 12 months due to general retail conditions as well as the loss of its Ralph Lauren license, investors were obviously impressed after the company announced a 25% increase in revenue for the year ending 26 July 2014. This is in addition to a 15.6% improvement in NPAT attributable to members.
Premier Investments Limited (ASX: PMV) has also received another boost today following an impressive earnings report earlier in the week. Its shares have jumped a further 3.8% today taking its weekly gain to 10.9% after it reported a 10.3% increase in underlying profit as well as a 6.2% improvement on total sales. As is the case with OrotonGroup, Premier Investments operates in the retail industry with brands such as Just Jeans, Jay Jays and Peter Alexander.
Nearmap Ltd (ASX: NEA), a provider of geospatial mapping technology in Australia, has jumped 2.5 cents or 5.1% today, although it is still sitting more than 13% below its peak from earlier this month. Those willing to accept a higher level of risk in the hope of greater returns should strongly consider adding this stock to their portfolios. It recently released a very impressive set of full-year results and I expect plenty of strong years to come.
Another stock investors ought to take a look at is one that was recently handpicked by The Motley Fool's top advisor, Scott Phillips, as a STANDOUT buy for the next 12 months…
