The S&P/ASX 200 Index (ASX: XJO) has come under pressure on Thursday. In afternoon trade, the benchmark index is down 0.35% to 7,287.9 points.
Four ASX shares that aren't letting that hold them back today are listed below. Here's why they are charging higher:
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Lovisa Holdings Ltd (ASX: LOV)
The Lovisa share price is up 4% to $24.85. This morning, in response to its half-year results from yesterday, analysts at Morgans retained their add rating with an improved price target of $29.00. the broker notes that "LOV reported NPAT of $50.5m (pre-AASB 16), 1% higher than our forecast."
Medibank Private Ltd (ASX: MPL)
The Medibank share price is up 6% to $3.27. This follows the release of the health insurer's half-year results. The company reported a 1.3% increase in revenue to $3.63 billion and a 6.7% lift in underlying net profit after tax to $227 million. This allowed Medibank to increase its fully franked interim dividend by 3.2% to 6.3 cents per share.
Qube Holdings Ltd (ASX: QUB)
The Qube share price is up 9% to $3.25. Investors have been buying this logistics solutions company's shares following the release of its half-year results. Qube reported a 23% increase in underlying revenue to $1.5 billion and a 41% jump in net profit after tax to $125 million. This was driven by continuing high volumes across most of Qube's core markets, as well as the full period contribution from prior acquisitions and growth capex.
Smartgroup Corporation Ltd (ASX: SIQ)
The Smartgroup share price is up 8% to $6.13. This morning, this salary packaging and fleet management company released its full-year results and reported a 1% increase in revenue to $225 million but a 12% decline in net profits after tax before amortisation to $61 million. The latter was at the high end of its guidance range.
