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

Two happy excited friends in euphoria mood after winning in a bet with a smartphone in hand.
Share Gainers

Why Fortescue, Lynas, PEXA, and Regis Healthcare shares are charging higher

These shares are having a strong session on Thursday. But why?

Read more »

A young man talks tech on his phone while looking at a laptop. A financial graph is superimposed across the image.
Share Gainers

Why Capricorn Metals, Insignia, Perseus Mining, and Qoria shares are storming higher

These shares are having a strong session on Tuesday. But why?

Read more »

A man clenches his fists in excitement as gold coins fall from the sky.
Share Gainers

Why Amaero, AMP, Block, and South32 shares are racing higher today

These shares are starting the week on a positive note. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

It was another momentous session for ASX shares this Friday.

Read more »

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

Why BHP, Catalyst Metals, Mesoblast, and Pilbara Minerals shares are shooting higher

These shares are ending the week with a bang. But why?

Read more »

Doctor doing a telemedicine using laptop at a medical clinic
Healthcare Shares

The Mesoblast share price just rocketed 38%! Here's why

ASX investors just sent the Mesoblast share price up 38%. But why?

Read more »

A businessman stacks building blocks.
Share Gainers

Here are the top 10 ASX 200 shares today

ASX shares hit a new record high today.

Read more »

A man sees some good news on his phone and gives a little cheer.
Share Gainers

Why Auckland Airport, Australian Ethical, Breville, and Clarity shares are charging higher

These shares are having a better day than most on Thursday. But why?

Read more »