After a strong run in the last few days the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) appears to be running out of steam today. In early afternoon trade the index is lower by 0.1% to 5,478 points, with the energy and materials sectors acting as a drag on proceedings.
Four shares in particular haven't let this stop them from posting strong gains today. Here's why these four shares are storming higher:
Afterpay Holdings Ltd (ASX: AFY) shares have rocketed 8% to $2.90 after announcing that it has signed an agreement for a $20 million Secured Receivables Funding Facility with banking giant National Australia Bank Ltd. (ASX: NAB). Management believes the facility will allow the payments company to continue to rapidly expand its business development activity. Whilst its valuation is getting stretched now, I believe Afterpay is one of the most exciting companies on the ASX. The strong adoption of its services by retailers is proof of this.
Hansen Technologies Limited (ASX: HSN) shares are up over 5.5% to $4.33 following the billing company's annual general meeting. The company advised that it has enjoyed a solid start to FY 2017 and reiterated full year guidance of revenue in the range of $165 million to $175 million. This equates to top line year-on-year growth of approximately 10.7% to 18%. Overall I believe today's presentation demonstrates why Hansen is one of the best long-term buy and hold investments on the market.
Liquefied Natural Gas Ltd (ASX: LNG) shares are up almost 6% to 69.7 cents after the energy company provided an update on its Magnolia LNG project. The project had been hanging in the balance after environmental organisation Sierra Club objected to the US Federal Energy Regulatory Commission granting the company authority to construct and operate new facilities at a proposed LNG terminal. A rehearing was held and pleasingly the original authorisation has been upheld.
Nick Scali Limited (ASX: NCK) shares have surged almost 8% to $6.15 after the furniture retailer provided half year profit guidance to the market. As things stand Nick Scali expects net profit growth for the first half of FY 2017 to be between 30% and 35%. I'm a huge fan of the company and its business model. As long as the housing market stays strong, I expect Nick Scali will continue to deliver strong results.
