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Why Domain, Money3, ResMed, & Steadfast shares are charging higher

These ASX shares are charging higher despite the market weakness…
The post Why Domain, Money3, ResMed, & Steadfast shares are charging higher appeared first on The Motley Fool Australia. –

It has been another disappointing day for the S&P/ASX 200 Index (ASX: XJO). In afternoon trade, the benchmark index is down 0.9% to 7,513.2 points.

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

Domain Holdings Australia Ltd (ASX: DHG)

The Domain share price is up 5% to $4.91 following the release of its full year results. For the 12 months ended 30 June, the property listings company reported a 66% increase in net profit to $37.9 million. The company also revealed that its unique digital audience increased to a record of more than 9 million during the year.

Money3 Corporation Limited (ASX: MNY)

The Money3 share price has risen over 2.5% to $3.48. This morning the consumer and commercial finance company released a strong full year result. It revealed a 38.5% increase in its loan book to $601 million and a 76.6% jump in net profit after tax to $39.2 million. This allowed Money3 to increase its full year dividend to 10 cents per share. Management is positive on FY 2022 and expects growth beyond 20% in FY 2022. Strong demand for finance for used cars is underpinning its growth.

ResMed Inc. (ASX: RMD)

The ResMed share price is up 2.5% to $38.28. This follows the announcement of the launch of the sleep treatment company’s new AirSense 11 device. It is a next-generation positive airway pressure (PAP) device designed to help hundreds of millions of people worldwide with sleep apnoea start and stay on therapy to treat and manage obstructive sleep apnoea. The device comes with new features such as Personal Therapy Assistant and Care Check-In.

Steadfast Group Ltd (ASX: SDF)

The Steadfast share price has risen 3.5% to $4.85. Investors have been buying the insurance broker’s shares following the release of its full year results and the announcement of a major acquisition. In respect to the latter, the company is acquiring Australian privately owned insurance broker Coverforce for an enterprise value of $411.5 million.

The post Why Domain, Money3, ResMed, & Steadfast shares are charging higher appeared first on The Motley Fool Australia.

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More reading

Steadfast (ASX:SDF) share price pushes higher following placement
ASX 200 midday update: Westpac update, Breville and Magellan sink

ResMed (ASX:RMD) share price hits record high on new product release
Money3 (ASX:MNY) share price hits its high after bumper FY21 results
Domain (ASX:DHG) share price down 3% after FY21 results

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. has recommended ResMed. The Motley Fool Australia has recommended ResMed Inc. and Steadfast Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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