Appen rallied after delivering strong quarterly revenue growth and reaffirming FY26 guidance.
Domino’s Pizza Enterprises gained following a substantial shareholder update.
The Star Entertainment attracted investors after reporting improving operating performance and reduced quarterly losses.
Three ASX stocks from vastly different sectors—artificial intelligence, quick-service restaurants and casino operations—emerged among Thursday's strongest performers. Appen Limited (ASX: APX) rose 10.29% to AU$1.125, Domino’s Pizza Enterprises Limited (ASX: DMP) climbed 9.08% to AU$19.59, while The Star Entertainment Group Limited (ASX: SGR) gained 8.00% to AU$0.135. Although each company released different updates, investors responded positively to signs of operational progress, stronger financial performance and corporate developments that reinforced market confidence.
Appen Delivers Strong AI-Driven Growth
Appen led the day's gains after reporting a solid second quarter for FY26, highlighting accelerating demand for AI training data and continued improvements in profitability. The company generated Q2 FY26 revenue of US$65.1 million, representing a 26% increase from the prior corresponding period and a 19% improvement over the previous quarter. First-half revenue reached US$119.9 million, while underlying EBITDA before foreign exchange impacts improved to US$4.4 million, marking a US$5 million year-on-year improvement. The company also maintained a strong cash balance of US$44.7 million at the end of June.
Management attributed the improved performance to expanding projects from existing customers, new client wins and increasing demand from AI developers globally. The company also reaffirmed its FY26 guidance, expecting revenue between US$270 million and US$300 million, alongside an underlying EBITDA margin of approximately 5% to 10%, signalling confidence in continued business momentum.
China Business Continues to Impress
A major contributor to Appen's performance remained its China operations. Quarterly revenue from Appen China climbed 75% year-on-year to US$41.3 million, with the business exiting June at an annualised revenue run rate exceeding US$175 million. Underlying EBITDA for the segment reached US$7 million, supported by increasing demand for generative AI projects and higher-margin datasets.
Outside China, Appen Global also reported sequential growth as demand expanded across coding, STEM, finance and robotics projects. The company continued integrating AI into its own operations to improve efficiency and lower costs, while positioning itself to capture further opportunities across the rapidly evolving AI ecosystem.
Domino's Draws Attention After Shareholder Change
Domino's Pizza Enterprises also featured among the session's top gainers after the market absorbed a substantial shareholder notice lodged with the ASX.The filing disclosed that JPMorgan Chase & Co. and its affiliates had ceased to be a substantial holder in Domino's, with the change taking effect on 27 July 2026. The notice detailed changes in relevant interests across several JPMorgan entities following a series of market transactions.
Although the announcement did not alter Domino's operating outlook or financial guidance, changes involving major institutional shareholders are closely monitored by investors. Such disclosures can influence market sentiment and trading activity, particularly when they involve globally recognised financial institutions.
Domino's shares have experienced heightened volatility in recent months as investors continue assessing the company's turnaround initiatives, cost management strategies and long-term earnings outlook. Thursday's strong share price performance suggested renewed buying interest following the latest corporate disclosure.
The Star Shows Signs of Operational Improvement
The Star Entertainment Group also attracted investor attention after releasing its quarterly activities report, which highlighted stabilising operations and continued progress on its financial recovery strategy.
For the quarter ended 30 June 2026, the casino operator reported revenue of AU$265 million, broadly unchanged from the previous quarter. More importantly, quarterly EBITDA loss narrowed to AU$8 million, representing a 70% improvement from the AU$27 million loss recorded in the corresponding period last year. The improvement reflected ongoing cost-saving initiatives, stronger performance at The Star Gold Coast and stabilised trading conditions at its Sydney property.
Management noted that the Gold Coast business continued to outperform, benefiting from stronger gaming activity across both table games and electronic gaming machines. Meanwhile, Sydney operations remained below historical trading levels but showed greater stability despite the ongoing impact of regulatory reforms.
Liquidity Position Improves
The Star also strengthened its liquidity during the quarter following the refinancing completed earlier this year. The company finished June with AU$267 million in available cash and cash equivalents, while management continued implementing cost reduction measures across corporate and property operations.
The group also confirmed progress on its strategic transactions, including the first stage of its joint venture restructuring, while continuing to work towards completing the remaining conditions associated with the broader transaction. However, management acknowledged that the company's ability to continue as a going concern remains dependent on resolving several outstanding matters.
Different Catalysts, Similar Market Reaction
Despite operating in entirely different industries, the three companies shared a common outcome—strong investor interest driven by encouraging corporate developments.Appen benefited from accelerating AI-related demand, improving earnings and reaffirmed guidance, reinforcing confidence in its growth strategy. Domino's attracted attention following a significant shareholder disclosure, while The Star gained after demonstrating operational improvement, tighter cost controls and stronger liquidity.
As reporting season continues, investors are expected to remain focused on companies capable of delivering tangible operational progress, maintaining financial discipline and providing greater visibility into future earnings.
Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
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Why Did These 3 ASX Stocks Surge Up to 10% Today?
Highlights
Three ASX stocks from vastly different sectors—artificial intelligence, quick-service restaurants and casino operations—emerged among Thursday's strongest performers. Appen Limited (ASX: APX) rose 10.29% to AU$1.125, Domino’s Pizza Enterprises Limited (ASX: DMP) climbed 9.08% to AU$19.59, while The Star Entertainment Group Limited (ASX: SGR) gained 8.00% to AU$0.135. Although each company released different updates, investors responded positively to signs of operational progress, stronger financial performance and corporate developments that reinforced market confidence.
Appen Delivers Strong AI-Driven Growth
Appen led the day's gains after reporting a solid second quarter for FY26, highlighting accelerating demand for AI training data and continued improvements in profitability. The company generated Q2 FY26 revenue of US$65.1 million, representing a 26% increase from the prior corresponding period and a 19% improvement over the previous quarter. First-half revenue reached US$119.9 million, while underlying EBITDA before foreign exchange impacts improved to US$4.4 million, marking a US$5 million year-on-year improvement. The company also maintained a strong cash balance of US$44.7 million at the end of June.
Management attributed the improved performance to expanding projects from existing customers, new client wins and increasing demand from AI developers globally. The company also reaffirmed its FY26 guidance, expecting revenue between US$270 million and US$300 million, alongside an underlying EBITDA margin of approximately 5% to 10%, signalling confidence in continued business momentum.
China Business Continues to Impress
A major contributor to Appen's performance remained its China operations. Quarterly revenue from Appen China climbed 75% year-on-year to US$41.3 million, with the business exiting June at an annualised revenue run rate exceeding US$175 million. Underlying EBITDA for the segment reached US$7 million, supported by increasing demand for generative AI projects and higher-margin datasets.
Outside China, Appen Global also reported sequential growth as demand expanded across coding, STEM, finance and robotics projects. The company continued integrating AI into its own operations to improve efficiency and lower costs, while positioning itself to capture further opportunities across the rapidly evolving AI ecosystem.
Domino's Draws Attention After Shareholder Change
Domino's Pizza Enterprises also featured among the session's top gainers after the market absorbed a substantial shareholder notice lodged with the ASX.The filing disclosed that JPMorgan Chase & Co. and its affiliates had ceased to be a substantial holder in Domino's, with the change taking effect on 27 July 2026. The notice detailed changes in relevant interests across several JPMorgan entities following a series of market transactions.
Although the announcement did not alter Domino's operating outlook or financial guidance, changes involving major institutional shareholders are closely monitored by investors. Such disclosures can influence market sentiment and trading activity, particularly when they involve globally recognised financial institutions.
Domino's shares have experienced heightened volatility in recent months as investors continue assessing the company's turnaround initiatives, cost management strategies and long-term earnings outlook. Thursday's strong share price performance suggested renewed buying interest following the latest corporate disclosure.
The Star Shows Signs of Operational Improvement
The Star Entertainment Group also attracted investor attention after releasing its quarterly activities report, which highlighted stabilising operations and continued progress on its financial recovery strategy.
For the quarter ended 30 June 2026, the casino operator reported revenue of AU$265 million, broadly unchanged from the previous quarter. More importantly, quarterly EBITDA loss narrowed to AU$8 million, representing a 70% improvement from the AU$27 million loss recorded in the corresponding period last year. The improvement reflected ongoing cost-saving initiatives, stronger performance at The Star Gold Coast and stabilised trading conditions at its Sydney property.
Management noted that the Gold Coast business continued to outperform, benefiting from stronger gaming activity across both table games and electronic gaming machines. Meanwhile, Sydney operations remained below historical trading levels but showed greater stability despite the ongoing impact of regulatory reforms.
Liquidity Position Improves
The Star also strengthened its liquidity during the quarter following the refinancing completed earlier this year. The company finished June with AU$267 million in available cash and cash equivalents, while management continued implementing cost reduction measures across corporate and property operations.
The group also confirmed progress on its strategic transactions, including the first stage of its joint venture restructuring, while continuing to work towards completing the remaining conditions associated with the broader transaction. However, management acknowledged that the company's ability to continue as a going concern remains dependent on resolving several outstanding matters.
Different Catalysts, Similar Market Reaction
Despite operating in entirely different industries, the three companies shared a common outcome—strong investor interest driven by encouraging corporate developments.Appen benefited from accelerating AI-related demand, improving earnings and reaffirmed guidance, reinforcing confidence in its growth strategy. Domino's attracted attention following a significant shareholder disclosure, while The Star gained after demonstrating operational improvement, tighter cost controls and stronger liquidity.
As reporting season continues, investors are expected to remain focused on companies capable of delivering tangible operational progress, maintaining financial discipline and providing greater visibility into future earnings.
Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise.
Customer Notice:
Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
Kapitales Research, Level 13, Suite 1A, 465 Victoria Ave, Chatswood, NSW 2067, Australia | 1800 005 780 | info@kapitales.com.au