Why Life360, Oil Search, Telix, and Zip shares are storming higher

These ASX shares are on form on Wednesday…
The post Why Life360, Oil Search, Telix, and Zip shares are storming higher appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is on course to record another strong gain. At the time of writing, the benchmark index is up 1.05% to 7,391.5 points.

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

Life360 Inc (ASX: 360)

The Life360 share price has jumped 11% to $11.46. There have been a couple of catalysts for this strong gain. One is a rebound by tech stocks today following a strong night on the tech-focused Nasdaq index. The other is news that the app maker’s shares will be added to the ASX 200 index at the quarterly rebalance later this month.

Oil Search Ltd (ASX: OSH)

The Oil Search share price is up 3% to $4.24. The reason Life360 is joining the ASX 200 is because Oil Search is leaving it. This is due to news that the company’s merger with Santos Ltd (ASX: STO) is going ahead. This follows a successful shareholder vote and approval from the Independent Consumer and Competition Commission of Papua New Guinea.

Telix Pharmaceuticals Ltd (ASX: TLX)

The Telix share price is up 8.5% to $7.48. This morning the biopharmaceutical company announced an exclusive commercial distribution agreement with Madrid-based NUCLIBER for its prostate cancer investigational imaging product Illuccix in the Spanish market.

Zip Co Ltd (ASX: Z1P)

The Zip share price has jumped 10% to $5.26. This buy now pay later provider’s shares were given a boost today when analysts at UBS took their sell rating off the company. According to the note, the broker has upgraded Zip’s shares to a neutral rating with a $5.20 price target. While Zip’s total transaction value is tracking below its estimates, the broker saw a better risk/reward on offer with its shares to support a neutral rating.

The post Why Life360, Oil Search, Telix, and Zip shares are storming higher 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

Why is the Zip (ASX:Z1P) share price zooming 9% higher today?

Telix (ASX:TLX) share price lifts 7% on new distribution agreement

Here’s why the Life360 (ASX:360) share price is leaping 12% today

Here’s why ASX BNPL shares are in the spotlight today

5 things to watch on the ASX 200 on Wednesday

Motley Fool contributor James Mickleboro owns shares of Life360, Inc. and TELIXPHARM DEF SET. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and has recommended Life360, Inc. and ZIPCOLTD FPO. The Motley Fool Australia has no position in any of the stocks mentioned. 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!