Around lunchtime today the S&P ASX 200 Index (INDEXASX: XJO) was up around 0.25%, however there are several stocks flying higher that are worth a closer look.
Tabcorp
Australia's most popular gambling agency Tabcorp Holdings Limited (ASX: TAH) is more than 5% higher after providing a positive trading update for the first quarter of FY15. Group revenues were up 6.6% on the prior corresponding period, with the main wagering business enjoying a bumper 8% rise thanks to a successful end to the FIFA World Cup.
Despite a competitive environment, Tabcorp looks to be meeting its main challenge of tapping into the digital future of gambling. For the quarter digital turnover growth was 21.2%, with mobile devices now accounting for 62% of digital turnover.
Cochlear
Hearing aid maker Cochlear Limited (ASX: COH) appears to be enjoying the tailwind of a positive AGM with its shares up nearly 4% in morning trade. Cochlear enjoyed a storming second half to FY14 on the back of new product releases and increased clinical demand.
The company is predicting the sales momentum to continue into FY15 with further product approvals, ongoing marketing initiatives, and a large growth runway to enjoy. Selling for $71.09 shares are trading around 27x FY15's estimated earnings.
iProperty Group Ltd
Online real estate business iProperty Group Ltd (ASX: IPP) has jumped more than 13% in early trade to sell for $2.85. This after Australia's most popular property website REA Group Limited (ASX: REA) announced it was increasing its stake in iProperty to 19.4% as consideration for the acquisition by iProperty of REA's Hong Kong internet business, squarefoot.com.hk.
This looks a positive deal for shareholders in both businesses as iProperty becomes a stronger business, and REA increases its exposure to the fast-growing property markets of South East Asia.
Corporate Travel Management
One of 2014's best performing small-cap stocks Corporate Travel Management Ltd (ASX: CTD) flew around 4% higher this morning to a new 52-week high of $8.23. The stock has tripled in price in a little over two years and the outlook is getting brighter.
The market is catching onto the growth potential of this award-winning travel business after it yesterday confirmed it is tracking towards the top end of guidance for FY15 with earnings growth between 32-42% over FY14.
Those are some of today's top performers on the market but the key to big returns is identifying tomorrow's top performers!
