Why ARB, Mesoblast, Pushpay, & Super Retail shares are racing higher

Mesoblast limited (ASX:MSB) and Pushpay Holdings Ltd (ASX:PPH) shares are two of four racing higher on Tuesday…

| 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

In morning trade the S&P/ASX 200 Index (ASX: XJO) has defied the weakness on Wall Street and is edging higher. The benchmark index is currently up 0.1% to 6,703.4 points.

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

ARB Corporation Limited (ASX: ARB)

The ARB share price is up 5.5% to $33.42. Investors have been buying the 4×4 accessories company's shares following the release of its guidance for the first half. Based on preliminary and unaudited management accounts, ARB expects to report a 21.6% increase in sales to $284 million and profit before tax of $70 million to $72 million. While its profits include $9.8 million of non-recurring government assistance, even excluding this, it is up materially on the prior corresponding period's profit before tax of $34.4 million.

Mesoblast limited (ASX: MSB)

The Mesoblast share price is up a further 4% to $2.66. Investors have been buying the biotech company's shares after it finally released some good news. On Monday Mesoblast announced that its rexlemestrocel-L drug provides a reduction in heart attacks, strokes, and cardiac death in patients with chronic heart failure.

Pushpay Holdings Ltd (ASX: PPH)

The Pushpay share price has stormed 5% higher to $1.57 following the release of a trading update. That update revealed that Pushpay's performance has been stronger than expected, leading to another guidance upgrade. Instead of EBITDAF of between US$54 million and US$58 million, management is now forecasting FY 2021 EBITDAF of between US$56 million and US$60 million. This will be up 123% to 139% year on year. Pushpay also announced the appointment of its new CEO, Molly Matthews.

Super Retail Group Ltd (ASX: SUL)

The Super Retail share price has surged 5.5% higher to $11.58. This is despite there being no news out of the retail group. However, investors may believe that the company's Super Cheap Auto business is benefiting from the same tailwinds that led to ARB recording strong profit growth in the first half.

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 PUSHPAY FPO NZX. The Motley Fool Australia owns shares of and has recommended Super Retail Group Limited. The Motley Fool Australia has recommended ARB Limited and PUSHPAY FPO NZX. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Gainers

A man sits on a bench atop a mountain with a laptop, making investments with a green ESG mind.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors endured a day to forget this hump day.

Read more »

A young woman holding her phone smiles broadly and looks excited, after receiving good news.
Share Gainers

Why Droneshield, Meteoric Resources, Mount Gibson, and Tyro shares are charging higher

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

Read more »

Ten smiling business people wave to the camera after receiving some winning company news.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX was back in the black this Tuesday.

Read more »

Man drawing an upward line on a bar graph symbolising a rising share price.
Share Gainers

Why DroneShield, Hansen, Hub24, and Paladin Energy shares are racing higher today

These shares are having a strong session. Let's find out why.

Read more »

Man on a laptop thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors weren't in a good mood this Monday.

Read more »

a young woman raises her hands in joyful celebration as she sits at her computer in a home environment.
Share Gainers

Why Abacus Storage King, DroneShield, Hansen, and Macquarie Technology shares are charging higher

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

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors finished the trading week on a sour note today.

Read more »

Happy teen friends jumping in front of a wall.
Share Gainers

4 ASX 200 stocks smashing the benchmark this week

Investors are sending these four ASX 200 stocks soaring this week. But why?

Read more »