Insights

Why Bapcor, Cochlear, Novonix, and Zip shares are rising

These ASX shares are performing positively today…
The post Why Bapcor, Cochlear, Novonix, and Zip shares are rising appeared first on The Motley Fool Australia. –

The S&P/ASX 200 Index (ASX: XJO) is having a decent day on Tuesday. In afternoon trade, the benchmark index is up 0.15% to 7,392.5 points.

Four ASX shares that are climbing more than most today are listed below. Here’s why they are rising:

Bapcor Ltd (ASX: BAP)

The Bapcor share price is up almost 3% to $7.74. This follows the release of a trading update by the auto parts retailer at its annual general meeting. That update reveals that Bapcor’s revenue was flat during the first quarter despite the negative impact of lockdowns on its stores. In light of this, management has reaffirmed its FY 2022 guidance for earnings at least in line with what was achieved in FY 2021.

Cochlear Limited (ASX: COH)

The Cochlear share price is up 2.5% to $220.72. This has also been driven by the release of an AGM update this morning. According to the release, the hearing solutions company is on track to achieve its guidance in FY 2022. This will be for underlying earnings growth in the range of 12% to 20%.

Novonix Ltd (ASX: NVX)

The Novonix share price has jumped 9% to $5.75. This is despite there being no news out of the battery materials company. However, a number of lithium shares are surging higher today amid increasingly bullish sentiment in the industry. This follows another rise in lithium prices to record highs.

Zip Co Ltd (ASX: Z1P)

The Zip share price is up 5% to $7.09. This morning the team at Morgans retained their add rating but trimmed their price target on this buy now pay later provider’s shares slightly to $8.56. This follows the release of its first quarter update on Monday. Morgans felt its revenue growth was commendable given how it is seasonally its weakest quarter.

The post Why Bapcor, Cochlear, Novonix, and Zip shares are rising appeared first on The Motley Fool Australia.

Wondering where you should invest $1,000 right now?

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.

*Returns as of August 16th 2021

More reading

Leading brokers name 3 ASX shares to sell today

What these brokers think of the Zip (ASX:Z1P) share price after its update

Cochlear (ASX:COH) share price charges higher on AGM update

Bapcor (ASX:BAP) share price higher following trading update

Could the Cochlear (ASX:COH) share price hit $260 by the end of 2021?

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 Cochlear Ltd. and ZIPCOLTD FPO. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Cochlear Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!