Why Domino’s, EML Payments, Redbubble, & Westpac shares are storming higher

Domino’s Pizza Enterprises Ltd (ASX:DMP) and Westpac Banking Corp (ASX:WBC) shares are two of four storming higher today…
The post Why Domino’s, EML Payments, Redbubble, & Westpac shares are storming higher appeared first on The Motley Fool Australia. –


In late morning trade the S&P/ASX 200 Index (ASX: XJO) is on course to end its winning streak. The benchmark index is currently down 0.6% to 6,875 points.

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

Domino’s Pizza Enterprises Ltd (ASX: DMP)

The Domino’s share price is up 4% to $101.39. This follows the release of the pizza chain operator’s first half results this morning. For the six months ended 31 December, Domino’s delivered a 16.5% increase in total global food sales to $1.84 billion. Thanks to margin expansion, the company’s EBIT grew at the even quicker rate of 32.3% to $153 million. Domino’s CEO and Managing Director, Don Meij, said the company intends “to significantly outperform this strong result in the Second Half.”

EML Payments Ltd (ASX: EML)

The EML Payments share price has jumped 13% to $4.77. Investors have been buying the payments company’s shares following the release of its half year results. EML Payments reported a 54% increase in group gross debit volume to $10.2 billion and a 61% jump in revenue to $95.3 million. And while changes in its sales mix weighed on margins, net profit after tax before amortisation still came in 30% higher at $13.2 million. Management reinstated its guidance and is predicting strong full year growth.

Redbubble Ltd (ASX: RBL)

The Redbubble share price is up 4% to $5.91. Investors have been buying the ecommerce company’s shares following a selloff on Tuesday. Analysts at Goldman Sachs believe the weakness in the Redbubble share price is a buying opportunity and have put a buy rating and $7.15 price target on its shares.

Westpac Banking Corp (ASX: WBC)

The Westpac share price has stormed 5% higher to $23.65 following the release of its first quarter update. Investors have been buying the banking giant’s shares after it delivered a $1.97 billion quarterly cash profit. This was more than double the quarterly average of $808 million it achieved during the second half of FY 2020. Westpac recorded an impairment benefit of $501 million in the period as the COVID-19 impact receded.

Where to 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 are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of February 15th 2021

More reading

James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends EML Payments. The Motley Fool Australia has recommended Dominos Pizza Enterprises Limited and EML Payments. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

The post Why Domino’s, EML Payments, Redbubble, & Westpac shares are storming higher appeared first on The Motley Fool Australia.

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!