Here's why these 4 ASX shares are storming higher today

The S&P/ASX 200 (Index:^AXJO) (ASX:XJO) may have dropped lower, but that hasn't stopped Automotive Holdings Group Ltd (ASX:AHG) and three other shares from posting strong gains.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is not having the best day and is currently down by around 0.6% to 5,509 points.

But it hasn't been a bad day for all shares on the market. Four shares which have been going against the grain today and pushing higher are as follows:

Automotive Holdings Group Ltd (ASX: AHG) shares are up a massive 7.5% to $4.64 following the announcement of changes in the C-suite at the leading car dealership. It was revealed that current long-time chief executive officer Bronte Howson will be retiring after 17 years in the top job, to be replaced by the highly experienced John McConnell from UK-based global automotive distributor and retailer Inchcape.

Automotive Holdings shares are now up by around 3% year-to-date.

Impedimed Limited (ASX: IPD) shares have climbed higher by around 6.8% to $1.64 following the global pre-order launch of its first product for the health and wellness market. SOZO is the first product on its new population health platform allowing consumers to track everything from their body composition, fluid status, and hydration levels through a variety of settings. I like the look of the product and look forward to hearing how pre-orders fare.

Impedimed shares have rocketed 38% higher in 2016.

Magellan Financial Group Ltd (ASX: MFG) shares jumped 5.8% to $25.62 after the fund manager released its full year results to the market. Although the performance of Magellan's funds were largely mixed, average funds under management grew a staggering 27% to $39.4 billion. This helped the company deliver strong top and bottom line growth of 17% and 14%, respectively.

Magellan Financial Group's share price is still down around 6% this year.

Nick Scali Limited (ASX: NCK) shares have rocketed over 14% to $5.49 following the release of the furniture retailer's full year results. A hugely successful FY 2016 saw the company deliver a huge 53% increase in net profit after tax to $26.2 million. The market clearly was impressed with the result which beat its own previous full year net profit after tax guidance of $24 million to $26 million.

Nick Scali's share price has risen a huge 26% so far in 2016.

Motley Fool contributor James Mickleboro has no position in any 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 Bruce Jackson.

More on ⏸️ Investing

A white and black robot in the form of a human being stands in front of a green graphic holding a laptop and discussing robotics and automation ASX shares
Technology Shares

Joining the revolution: How I'd invest in ASX AI shares right now

Advances in artificial intelligence (AI) could usher in a new industrial revolution. Here’s how you can invest in it.

Read more »

Close up of baby looking puzzled
Retail Shares

What has happened to the Baby Bunting (ASX:BBN) share price this year?

It's been a volatile year so far for the Aussie nursery retailer. We take a closer look

Read more »

woman holds sign saying 'we need change' at climate change protest
ETFs

3 ASX ETFs that invest in companies fighting climate change

If you want to shift some of your investments into more ethical companies, exchange-traded funds can offer a good option

Read more »

a jewellery store attendant stands at a cabinet displaying opulent necklaces and earrings featuring diamonds and precious stones.
⏸️ Investing

The Michael Hill (ASX: MHJ) share price poised for growth

Investors will be keeping an eye on the Michael Hill International Limited (ASX: MHJ) share price today. The keen interest…

Read more »

ASX shares buy unstoppable asx share price represented by man in superman cape pointing skyward
⏸️ Investing

The Atomos (ASX:AMS) share price is up 15% in a week

The Atomos (ASX: AMS) share price has surged 15% this week. Let's look at what's ahead as the company build…

Read more »

Two people in suits arm wrestle on a black and white chess board.
Retail Shares

How does the Temple & Webster (ASX:TPW) share price stack up against Nick Scali (ASX:NCK)?

How does the Temple & Webster (ASX: TPW) share price stack up against rival furniture retailer Nick Scali Limited (ASX:…

Read more »

A medical researcher works on a bichip, indicating share price movement in ASX tech companies
Healthcare Shares

The Aroa (ASX:ARX) share price has surged 60% since its IPO

The Aroa (ASX:ARX) share price has surged 60% since the Polynovo (ASX: PNV) competitor listed on the ASX in July.…

Read more »

asx investor daydreaming about US shares
⏸️ How to Invest

How to buy US shares from Australia right now

If you have been wondering how to buy US shares from Australia to gain exposure from the highly topical market,…

Read more »