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:
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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.
