Insights

Why InvoCare, Nine, Telstra, & Wesfarmers shares are storming higher

Telstra Corporation Ltd (ASX:TLS) and Wesfarmers Ltd (ASX:WES) shares are two of four storming notably higher on Thursday…
The post Why InvoCare, Nine, Telstra, & Wesfarmers shares are storming higher appeared first on Motley Fool Australia. –

growth shares to buy

In afternoon trade the S&P/ASX 200 Index (ASX: XJO) looks set to end its winning streak. At the time of writing, the benchmark index is down 0.3% to 6,431.8 points.

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

InvoCare Limited (ASX: IVC)

The InvoCare share price has climbed 3.5% to $11.91 after announcing two new acquisitions. The funerals company has entered into conditional sales agreements to acquire 100% of the shares of Family Pet Care and the business and assets of Pets in Peace for a combined price of $49.8 million. The acquisitions are forecast to deliver combined annual revenue of ~$19.3 million and be earnings per share accretive in the first full year of operation.

Nine Entertainment Co Holdings Ltd (ASX: NEC)

The Nine Entertainment share price is up 4.5% to $2.46 following the release of a trading update. That update revealed that the media and entertainment company expects its first-half earnings before interest, tax, depreciation and amortisation (EBITDA) to be up by around 30% compared to the prior corresponding period.

Telstra Corporation Ltd (ASX: TLS)

The Telstra share price is up 4.5% to $3.13. Investors have been buying the telco giant’s shares after it announced a potential restructuring of the company to create three separate legal entities. Telstra believes the restructure would enable it to take advantage of potential monetisation opportunities for its infrastructure assets. These are expected to create additional value for shareholders. In addition to this, Telstra has reconfirmed the FY 2021 guidance.

Wesfarmers Ltd (ASX: WES)

The Wesfarmers share price is up over 2.5% to $48.88. This follows the release of the conglomerate’s trading update this morning. That update revealed that Wesfarmers has started the year very positively, with strong sales growth being achieved across much of the company. The Bunnings business has achieved sales growth of 25.2% for the first four months of FY 2021. This has been supported by a 23.4% increase in Officeworks sales and a 114.4% jump in Catch sales.

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 June 30th

More reading

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Telstra Limited. The Motley Fool Australia owns shares of Wesfarmers Limited. The Motley Fool Australia has recommended InvoCare Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Why InvoCare, Nine, Telstra, & Wesfarmers shares are storming higher appeared first on 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!