Top 10 at 11: Healthcare and tech lead ASX lower as CSL and WiseTech bleed
CSL is having a rough day after cutting revenue guidance. Pic: Getty Images
Morning, and welcome to Stockhead’s Top 10 (at 11… ish), highlighting the movers and shakers on the ASX in early-doors trading.
With the market opening at 10am sharp eastern time, the data is taken at 10.15am in the east, once trading kicks off in earnest.
In brief, this is what the market has been up to this morning.
Healthcare and tech drags ASX lower
Heavy falls in the healthcare and tech sectors are dragging the Aussie bourse lower, despite seven of the 11 sectors moving into the green. The healthcare sector’s biggest name – blood products giant CSL (ASX:CSL) – has tanked ~15% after cutting FY26 revenue guidance to 2-3%, down from 4-5%.
CSL is holding what has been described as one of its toughest AGMs in years today, with the group also cutting net profit growth to 4-7%, down from more than 7-10% at constant currency.
CEO Paul McKenzie told investors challenges in its US and China markets are to blame for the lowered profit expectations. US influenza vaccination rates are down more than it expected and government cost-containment measures in China are reducing demand for albumin.
Meanwhile, WiseTech Global (ASX:WTC) shares have dumped more than 12% in opening trade after disclosing to the market that ASIC and the AFP conducted a raid on Monday at its Sydney offices over alleged share trading by chairman and co-founder Richard White, along with three WiseTech employees, between late 2024 and early 2025.
Wall Street lifts ahead of Trump-Xi summit
Overnight on Wall Street the major stock indexes hitting new record highs after the US and China described trade talks as “constructive” ahead of the upcoming Trump-Xi summit.
The S&P 500 rose 1.0% to close above 6,800 points for the first time, the Dow Jones added 0.7% to a new all-time high, and the Nasdaq gained 1.9%, boosted by Qualcomm’s surge following the launch of its new AI chips challenging Nvidia.
Gold futures have retreated to around US$4000 an ounce, while oil is also trending down with Brent crude hovering ~US$65 a barrel.
Iron ore on the Singapore Exchange closed at US$105.20 a tonne, and bitcoin is trading near US$114,600. The Australian dollar is firmer at US65.56 cents
SMALL CAP WINNERS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| JAV | Javelin Minerals Ltd | 0.003 | 50% | 10,694,543 | $15,140,450 |
| XPN | Xpon Technologies | 0.014 | 40% | 6,463,763 | $4,903,564 |
| BIT | Biotron Limited | 0.004 | 33% | 199,999 | $4,578,998 |
| C7A | Clara Resources | 0.004 | 33% | 390,839 | $2,544,885 |
| MOM | Moab Minerals Ltd | 0.002 | 33% | 501,100 | $2,811,999 |
| SHO | Sportshero Ltd | 0.039 | 26% | 50,000 | $24,966,405 |
| ADR | Adherium Ltd | 0.005 | 25% | 153,796 | $7,452,698 |
| RFT | Rectifier Technolog | 0.005 | 25% | 400,000 | $5,527,936 |
| MRQ | MRG Metals Limited | 0.006 | 20% | 1,100,000 | $13,632,593 |
| VAR | Variscan Mines Ltd | 0.006 | 20% | 1,914,166 | $6,235,795 |
In the news…
Javelin Minerals (ASX:JAV) is up 50% in morning trade after announcing a detailed review and reinterpretation of historic exploration data has revealed significant exploration upside at its Coogee Project, located near the world-class St Ives goldfield, ~50km south of Kalgoorlie.
Led by new GM – Exploration and Resources Mark Cossom – the review identified large geophysical anomalies correlating with known mineralised alteration zones at Coogee North and Coogee West, supported by shallow historic drilling showing strong gold and gold-copper anomalism.
The project already hosts a JORC Resource of 3.6Mt at 1.08g/t Au for 127,000oz of gold and 1Mt Cu at 0.41% for 4,122t of copper on a granted mining licence.
XPON Technologies (ASX:XPN) is up 40% in morning trade after releasing its latest quarterly result, which it said positioned AI marketing technology company to meet full-year financial targets with positive operating cash flow of $990,000 and unaudited EBITDA of $120,000.
Group sales revenue rose 17.5% quarter-on-quarter to $3.2 million, driven by its Alpha Digital acquisition, with recurring revenue making up 94% of the total. The company said integration of Alpha Digital continues to progress well, with several cross-sell and joint Wondaris, Alpha, and XPON deals in the pipeline.
The company also secured 12 new customers, expanded 16 existing relationships, and maintained a strong 97.5% monthly retention rate, supported by a stable 68% gross margin. During the quarter, XPON strengthened its balance sheet, raising $450,000 in capital and securing a $400,000 loan from Harvest Lane, and repaying all convertible notes, leaving a $2.7m cash balance at 30 September 2025.
SMALL CAP LAGGARDS
| Code | Name | Last | % Change | Volume | Market Cap |
|---|---|---|---|---|---|
| DTR | Dateline Resources | 0.245 | -36% | 33,359,239 | $1,297,853,576 |
| AAJ | Aruma Resources Ltd | 0.017 | -26% | 5,761,642 | $9,426,332 |
| LNU | Linius Tech Limited | 0.0015 | -25% | 256,407 | $14,254,387 |
| LSR | Lodestar Minerals | 0.031 | -24% | 22,616,652 | $35,281,625 |
| HRZ | Horizon | 0.055 | -21% | 22,722,384 | $209,632,090 |
| ERL | Empire Resources | 0.0055 | -21% | 670,000 | $10,387,393 |
| ABX | ABX Group Limited | 0.095 | -21% | 1,973,408 | $35,761,143 |
| PIM | Pinnacleminerals | 0.135 | -21% | 232,090 | $17,078,780 |
| COB | Cobalt Blue Ltd | 0.12 | -20% | 2,990,627 | $76,766,371 |
| RNX | Renegade Exploration | 0.004 | -20% | 3,105,381 | $10,348,984 |
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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