Why Harvey Norman, Life360, PEXA, and TPG shares are storming higher today

These shares are avoid the market selloff on Friday. But why?

| More on:
co-workers wearing headphone and microphones high five in celebration of good news in an office setting.

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

The S&P/ASX 200 Index (ASX: XJO) is ending the week on a disappointing note. In afternoon trade, the benchmark index is down 0.7% to 8,209.2 points.

Four ASX shares that are not letting that hold them back are listed below. Here's why they are charging higher:

Harvey Norman Holdings Ltd (ASX: HVN)

The Harvey Norman share price is up 3% to $5.24. Investors have been buying this retail giant's shares after responding positively to its half year results. Harvey Norman posted a 6.6% increase in revenue to $2.29 billion and a 41.2% jump in reported profit before tax to $400 million. Management also spoke positively about the future thanks to the AI megatrend. It said: "The continuing innovation and mainstream adoption of Next Gen-AI PCs and devices are expected to drive further sales growth in the Home Appliances, Television, Audio, Mobile & Computer Technology categories through FY 2025 and beyond."

Life360 Inc (ASX: 360)

The Life360 share price is up 6% to $23.05. This has been driven by the release of a stronger than expected FY 2024 result. Total revenue was up 22% to US$371.5 million and adjusted EBITDA was up 121% to US$45.5 million. The latter was ahead of its guidance range of US$39 million to US$42 million. Looking ahead, management is guiding to adjusted EBITDA of US$65 million to US$75 million in FY 2025. Commenting on Life360's guidance, analysts at Goldman Sachs said: "FY25 guidance came broadly in-line with VA consensus expectations while we note that initial FY guidance is typically conservative with an expectation of upgrades as the year progresses."

PEXA Group Ltd (ASX: PXA)

The PEXA Group share price is up 7% to $12.19. This follows the release of the property settlement technology company's half year results. PEXA revealed that its revenue was up 25% to $202.5 million and its EBITDA increased 25% to $73.2 million. In light of its strong financial performance, the company announced a $50 million on-market share buyback.

TPG Telecom Ltd (ASX: TPG)

The TPG Telecom share price is up 3.5% to $4.68. This morning, the telco giant released its FY 2024 results and reported a 1.5% increase in service revenue to $4.7 billion. This was driven by a strong performance in mobile services, which generated a 5.4% increase in revenue to $2.27 billion. The company's underlying EBITDA increased 3.4% to $1.99 billion, which was in line with its guidance. Looking ahead, management is guiding to EBITDA of between $1.95 billion and $2.025 billion in FY 2025, assuming no major shifts in operating conditions.

Motley Fool contributor James Mickleboro has positions in Life360. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Goldman Sachs Group, Life360, and PEXA Group. The Motley Fool Australia has positions in and has recommended Harvey Norman. 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

A woman's hand draws a stylised 'Top Ten' on a projected surface.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a timid session for investors this Thursday.

Read more »

Two men sit side by side on a couch with video game controls in their hands and expressive looks on their faces.
ETFs

ASX ETFs: What do Bitcoin and video games have in common?

These funds are both up almost 100% in a year.

Read more »

Lion holding and screaming into a yellow loudspeaker on a blue background, symbolising an announcement from Liontown.
Share Gainers

Why EOS, Eroad, Neuren, and Westgold shares are roaring higher today

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

Read more »

A happy elderly woman smiles and cheers as she looks at good investment news on her laptop.
Share Gainers

Here are the top 10 ASX 200 shares today

Today's session was one for the record books.

Read more »

A young woman drinking coffee in a cafe smiles as she checks her phone.
Share Gainers

Why Infomedia, News Corp, REA Group, and West African shares are storming higher

These shares are having a great session on hump day. But why?

Read more »

A silhouette of a soldier flying a drone at sunset.
Share Gainers

Invested $10,000 in DroneShield shares in January? Guess how much that's worth today!

After being labelled overvalued in mid-2024, DroneShield shares have shot the lights out in 2025.

Read more »

Girl with painted hands.
Share Gainers

Here are the top 10 ASX 200 shares today

It was a spectacular day for investors this Tuesday.

Read more »

A businessman looking at his digital tablet or strategy planning in hotel conference lobby. He is happy at achieving financial goals.
Share Gainers

Why Austal, Credit Corp, EOS, and ResMed shares are racing higher today

These shares are rising more than most today. But why?

Read more »