Why Alliance Aviation, Cochlear, Kogan, & Netwealth shares are storming higher

Cochlear Limited (ASX:COH) and Kogan.com Ltd (ASX:KGN) shares are two of four storming higher on Monday. Here's why…

| 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 (ASX: XJO) has bounced back from a sizeable morning decline and is pushing slightly higher this afternoon. At the time of writing the benchmark index is up 0.1% to 5,934.6 points.

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

The Alliance Aviation Services Ltd (ASX: AQZ) share price has jumped 7% to $3.34. This morning the airline operator announced an agreement with Azorra Aviation to expand its fleet. This will see the company purchase 14 Embraer E190 aircraft, including a significant package of related inventory, ground support equipment, tooling, and training devices. Management commented: "This acquisition is more than opportunistic, it underpins our expected growth."

The Cochlear Limited (ASX: COH) share price has stormed 5% higher to $199.58. Investors have been buying the hearing solutions company's shares despite there being no news out of it today. However, with its shares down 21% from their 52-week high, some investors may believe they are in the bargain bin.

The Kogan.com Ltd (ASX: KGN) share price is up 8.5% to $18.09. This ecommerce company's shares have been in demand with investors on Monday after the Victorian state government announced a six-week lockdown. With non-essential retail stores to close across the state, more and more spending looks set to shift online. This bodes well for ecommerce companies like Kogan.

The Netwealth Group Ltd (ASX: NWL) share price has risen 5% to $12.61. The investment platform provider's shares have been in fine form of late thanks to a strong fourth quarter update. So much so, Netwealth was the best performer on the ASX 200 in July. At the end of the fourth quarter, its funds under administration (FUA) had climbed to a sizeable $31.5 billion. This means the company grew its FUA by $8.2 billion or 35% during the financial year.

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 Cochlear Ltd. and Kogan.com ltd. The Motley Fool Australia owns shares of Netwealth. The Motley Fool Australia has recommended Cochlear Ltd. and Kogan.com ltd. 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.

More on Share Gainers

Person pretends to types on laptop drawn in sand.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a happy finish to the week for ASX shares this Friday.

Read more »

Five young people sit in a row having fun and interacting with their mobile phones.
Share Gainers

5 ASX All Ords stocks rocketing higher this week

Investors sent these five ASX All Ords stocks soaring this week. But why?

Read more »

Overjoyed man celebrating success with yes gesture after getting some good news on mobile.
Share Gainers

Why Boss Energy, Capstone, Dimerix, and Platinum shares are storming higher today

These shares are having a good finish to the week. Let's find out why.

Read more »

Fancy font saying top ten surrounded by gold leaf set against a dark background of glittering stars.
Share Gainers

Here are the top 10 ASX 200 shares today

It was the ASX's fourth day of gains for the week today.

Read more »

a man raises his fists to the air in joyous celebration while learning some exciting good news via his computer screen in an office setting.
Share Gainers

Why Cedar Woods, Healius, NextDC, and Platinum shares are charging higher today

These shares are rising on Thursday. But why are investors buying them? Let's find out.

Read more »

A bearded man holds both arms up diagonally and points with his index fingers to the sky with a thrilled look on his face over these rising Tassal share price
Share Gainers

These were the best-performing ASX 200 shares in April

These shares were in fine form in April. Let's see why they outperformed.

Read more »

Hiker man backpacker with hands up in the summer mountains with cloudy sky.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX made it three from three.

Read more »

Ecstatic woman looking at her phone outside with her fist pumped.
Share Gainers

Why Cedar Woods, Orthocell, PEXA, and St Barbara shares are storming higher today

These shares are having a good session on hump day. But why?

Read more »