Why Catapult, Flight Centre, Nufarm, and Xero shares are storming higher today

These shares are having a strong session on Thursday. But why? Let's find out.

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In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record a small gain. At the time of writing, the benchmark index is up 0.25% to 8,214.7 points.

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

Catapult Group International Ltd (ASX: CAT)

The Catapult Group share price is up 9% to $2.87. Investors have been buying the sports technology solutions company's shares after responding positively to the release of its half year results. Catapult delivered a strong six months, reporting a 20% constant currency increase in annualised contract value (ACV) to a record of US$96.8 million (A$143 million). Also impressing the market was the company's free cash flow (FCF) generation of US$4.8 million (A$7 million). This is more than it generated in the whole of FY 2024. CEO Will Lopes said: "Our Performance & Health vertical delivered another predictable and reliable performance, and we're continuing to see increased adoption of our New Video Solutions in our Tactics & Coaching vertical."

Flight Centre Travel Group Ltd (ASX: FLT)

The Flight Centre share price is up 4% to $17.32. This follows the release of a trading update at the travel agent giant's annual general meeting. Commenting on recent trading in the second quarter, CEO Graham Turner said he was "heartened by a marked recovery in October across our key metrics of TTV, profit and profit margin." This is a big positive given its "patchy first quarter." The market appears to believe its half year results may not be as bad as feared now.

Nufarm Ltd (ASX: NUF)

The Nufarm share price is up 6% to $3.89. Investors have been buying this crop protection and seed technology solutions company's shares following the release of its full year results. Nufarm reported underlying EBITDA of $313 million, which was in the middle of its guidance range. Looking ahead, management appears to believe that it is over the worst now. The company said: "We are seeing solid end use demand and stable active ingredient prices for crop protection products. As a result, we do not expect to see the same deflationary impact from falling active ingredient prices that we saw in FY24."

Xero Ltd (ASX: XRO)

The Xero share price is up 6% to $171.16. The catalyst for this has been the release of the cloud accounting platform provider's half year results. Xero's shares hit a record high after impressing with a 25% increase in half-year operating revenue to NZ$995.9 million and a 76% jump in net profit after tax to NZ$95.1 million. Xero's CEO, Sukhinder Singh Cassidy, said: "This result reinforces our ability to deliver on our strategy. We have delivered a solid performance across the board this half including continued strong revenue growth, and a greater than Rule of 40 outcome for the second period running. We're executing our strategy with focus and purpose, through disciplined investment aligned to our strategic priorities."

Motley Fool contributor James Mickleboro has positions in Xero. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Catapult Group International and Xero. The Motley Fool Australia has positions in and has recommended Xero. The Motley Fool Australia has recommended Catapult Group International and Flight Centre Travel Group. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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