Why Jumbo, Link, News Corp, and REA shares are storming higher

These ASX shares are ending the week strongly…

| More on:
green arrow representing a rise in the share price

Image source: Getty Images

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

sdf

The S&P/ASX 200 Index (ASX: XJO) is on form again and on course to end the week on a positive note. In afternoon trade, the benchmark index is up 0.55% to 7,468.5 points.

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

Jumbo Interactive Ltd (ASX: JIN)

The Jumbo share price is up 7.5% to $17.10. This appears to have been driven by a recent broker note out of Morgan Stanley. Its analysts were pleased with the lottery ticket seller's performance during the first quarter. In response, the broker retained its overweight rating and $18.50 price target.

Link Administration Holdings Ltd (ASX: LNK)

The Link share price has jumped 11% to $4.81. Investors have been buying the administration services company's shares after it received a takeover approach from Carlyle Group. The private equity firm has made a conditional, non-binding indicative proposal to acquire Link for $5.38 per share. This comprises $3.00 cash per share and a pro rata distribution of Link's shareholding in PEXA Group Limited (ASX: PXA) valued at $2.38 per share.

News Corp (ASX: NWS)

The News Corp share price has surged 9% higher to $34.62. This follows the release of the media giant's first quarter update. According to the release, News Corp reported an 18% increase in revenue to US$2.5 billion and a 53% jump in EBITDA to US$410 million during the quarter. One of the drivers of this strong result was its Dow Jones media segment. It recorded its highest quarter of revenue and profitability since acquisition.

REA Group Limited (ASX: REA)

The REA share price is up 5.5% to $176.52. This follows the release of the property listings company's first quarter update. For the three months ended 30 September, REA delivered a 35% increase in revenue to $264 million and a 25% lift in EBITDA including associates to $158 million. This was driven by growth across all Australian segments, underpinned by an increase in national listings. Management also revealed that the second quarter has started strongly, with national listings up 16% year on year in October.

Motley Fool contributor 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 and has recommended Jumbo Interactive Limited and Link Administration Holdings Ltd. The Motley Fool Australia owns shares of and has recommended Jumbo Interactive Limited. The Motley Fool Australia has recommended REA Group Limited. 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

Unsure man analysing data on laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing end to a disappointing week for investors this Friday.

Read more »

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

Why Betr, Centuria Capital, GR Engineering, and Mach7 shares are pushing higher

These shares are having a good finish to the week. But why?

Read more »

Ten happy friends leaping in the air outdoors.
Share Gainers

Here are the top 10 ASX 200 shares today

The ASX gave up an afternoon lead to close lower today.

Read more »

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

Why Clarity Pharmaceuticals, Kelsian, Life360, and Syrah shares are rising today

These shares are pushing higher on Thursday. But why?

Read more »

Man smiling on top of rocks with mountains in the background.
Share Gainers

Here are the top 10 ASX 200 shares today

Investors were in a nervous mood today.

Read more »

Three happy office workers cheer as they read about good financial news on a laptop.
Share Gainers

Why Beach Energy, Boss Energy, Cochlear, and Light & Wonder shares are pushing higher

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

Read more »

A man looking at his laptop and thinking.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a disappointing Tuesday session for ASX investors today.

Read more »

A man looking at his laptop and thinking.
Share Gainers

Thinking of selling your CBA shares? This expert says you should hold on

CBA shares are up by about 80% since November 2023.

Read more »