Top 10 at 10: Upgraded sales forecasts and a lucrative M&A deal
Pic: Via Getty
Stockhead’s Top 10 at 10, published at ~10.30am each trading day, highlights the best (and worst) performing ASX stocks in morning trade using live data.
It’s a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| EDE | Eden Inv Ltd | 0.003 | 50% | 3,357,585 | $6,727,274 |
| AXP | AXP Energy Ltd | 0.002 | 33% | 15,000 | $8,737,021 |
| DXN | DXN Limited | 0.002 | 33% | 14,900,323 | $2,585,010 |
| MTH | Mithril Resources | 0.002 | 33% | 1,500,050 | $5,053,207 |
| XTC | Xantippe Res Ltd | 0.002 | 33% | 3,999 | $26,292,008 |
| CTQ | Careteq Limited | 0.028 | 33% | 431,834 | $4,664,580 |
| OCT | Octava Minerals | 0.093 | 33% | 135,832 | $2,601,376 |
| CNW | Cirrus Net Hold Ltd | 0.054 | 32% | 15,750,680 | $38,130,262 |
| AVE | Avecho Biotech Ltd | 0.005 | 25% | 5,507,508 | $10,793,168 |
| GTG | Genetic Technologies | 0.0025 | 25% | 4,742,585 | $23,083,316 |
Innovative construction materials supplier Eden (ASX:EDE) has upgraded global sales forecast to $5.3m in FY24, which would put the company close to positive cashflow.
Explorer Octava Minerals (ASX:OCT) will buy the remaining 30% the Talga lithium project in the Pilbara.
IT solutions stock Cirrus (ASX:CNW) will be acquired by Atturra (ASX:ATA) for 5.3c per share – a ~30% premium to the last closing price and a ~25% premium to the 30-day volume weighted average price.
Cirrus shareholders can choose between cash and Atturra shares.
LOSERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| CLE | Cyclone Metals | 0.001 | -50% | 1,014,094 | $20,529,010 |
| CCE | Carnegie Cln Energy | 0.0015 | -25% | 1,031,454 | $31,285,147 |
| MEB | Medibio Limited | 0.0015 | -25% | 1,433,881 | $12,201,488 |
| TYM | Tymlez Group | 0.003 | -25% | 225,000 | $4,952,781 |
| PIL | Peppermint Inv Ltd | 0.007 | -22% | 68,327 | $18,340,712 |
| RCE | Recce Pharmaceutical | 0.535 | -18% | 233,941 | $115,865,302 |
| TTT | Titomic Limited | 0.015 | -17% | 151,603 | $15,581,595 |
| ROG | Red Sky Energy. | 0.005 | -17% | 80,000 | $31,813,363 |
| TOE | Toro Energy Limited | 0.01 | -17% | 15,205,364 | $52,306,652 |
| PVW | PVW Res Ltd | 0.069 | -15% | 1,000 | $7,975,552 |
Metal recycler Sims (ASX:SGM) is down ~12% at the open after saying steel demand remains subdued “across all regions”.
As a result of these market conditions, the Company anticipates Q1 FY24 EBIT to be approximately breakeven.
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