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Top 10 at 11: Air traffic control training is what’s in the news this morning
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Good morning, and welcome to Stockhead’s Top 10 at shortly-before-11-ish, which is meant to highlight the best (and sometimes worst) performing ASX stocks in morning trade using live data, to provide a short, sharp update to help frame the trading day by showing the biggest movers in percentage terms that have made announcements.
The market opens at 10am (eastern time) and the data is taken at 10:15am, once every ASX stock has started trading.
Briefly, here’s what’s been happening already this morning: The markets have a case of the Mondays today, but I suspect that it’s something that’s been going around, after Wall Street called in sick on Friday and all the major indices there coughed and spluttered their way to some steep losses.
20 minutes in this morning, and the ASX 200 was down nearly 1.0%. But there are some winners this morning. Not many, but a few. Here are the highlights.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Security | Description | Last | % | Volume | MktCap |
|---|---|---|---|---|---|
| 88E | 88 Energy | 0.002 | 100.0 | 16,008,504 | $28,933,812 |
| CDE | Codeifai | 0.002 | 100.0 | 295,000 | $2,641,295 |
| IVX | Invion | 0.0025 | 25.0 | 390,000 | $13,275,731 |
| ADA | Adacel Technologies | 0.545 | 23.9 | 96,689 | $33,538,995 |
| IGN | Ignite | 0.082 | 22.4 | 1 | $10,933,535 |
| AUK | Aumake | 0.006 | 20.0 | 1,182,094 | $9,641,205 |
| LRV | Larvotto Resources | 0.385 | 16.7 | 1,165,387 | $102,261,822 |
| SRN | Surefire Resources | 0.007 | 16.7 | 395,661 | $11,917,847 |
| NGX | NGX | 0.19 | 15.2 | 7,000 | $14,950,954 |
| SRZ | Stellar Resources | 0.016 | 14.3 | 220,033 | $29,116,041 |
Adacel Technologies (ASX:ADA), which is an industry leader in advanced Air Traffic Management (ATM) and Air Traffic Control (ATC) simulation and training solutions, has advised the market that a hiccup with the bid submission process with the Federal Aviation Administration has been resolved in its favour, and that the 5-year contract it announced in December, worth US$59 million, is set to go forward.
It’s a continuation of the contracts that have seen Adacel and the FAA continuing to work together for around 20 years, providing Tower Simulation system support for training air traffic controllers.
Invion (ASX:IVX) was up nicely on Monday morning, but the only news from the company was some housekeeping notices for the ASX. Same with Larvotto Resources (ASX:LRV) – the only news is a change in substantial holdings notice.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| RIE | Riedel Resources | 0.001 | -50.0 | 300,000 | $4,447,671 |
| MEL | Metgasco | 0.003 | -25.0 | 19,725 | $5,790,347 |
| FGH | Foresta Group | 0.004 | -20.0 | 3,946,262 | $11,776,895 |
| VRC | Volt Resources | 0.004 | -20.0 | 8,823 | $20,793,391 |
| LMS | Litchfield Minerals | 0.1 | -16.7 | 250,000 | $3,307,500 |
| ERA | Energy Resources | 0.005 | -16.7 | 2,714,020 | $132,889,795 |
| IXR | Ionic Rare Earths | 0.005 | -16.7 | 1,507,221 | $29,218,576 |
| JRV | Jervois Global | 0.01 | -16.7 | 850,000 | $32,433,165 |
| LNR | Lanthanein Resources | 0.0025 | -16.7 | 10,945 | $7,330,908 |
| MIO | Macarthur Minerals | 0.067 | -16.3 | 100,000 | $15,973,241 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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