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. Here’s what’s happened so far.
Markets were tipped to open higher this morning, with the headlines dominated by news that Myer (ASX:MYR) has bought a bunch of major clothing brands, including Portmans, Just Jeans, Jay Jay’s and Dotti from Premier Investments (ASX:PMV).
Premier will receive a bunch of Myer shares, and focus on its two remaining major brands – namely, Peter Alexander and Smiggle, in a bid to corner the satin pyjamas that turn into a pencil case market once and for all.
Meanwhile, we can expect the next Myer catalogue to be called something like “Double Down on Double Denim”, and everybody to be dressed like Jay Leno for the next four years.
Tomorrow, we get CPI data. Today, though, it’s just terrible fashion jokes until my coffee wears off and I fall asleep at my desk.
When the markets opened this morning, the benchmark climbed 0.4%, with Energy and Health Care the only sectors holding the rest of the market back.
WINNERS
Stocks highlighted in yellow have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| LNR | Lanthanein Resources | 0.004 | 33.3 | 122,000 | $7,330,908 |
| RDS | Redstone Resources | 0.004 | 33.3 | 16,379 | $2,776,135 |
| RIE | Riedel Resources | 0.002 | 33.3 | 200,000 | $3,335,753 |
| SKO | Serko | 3.100 | 26.0 | 8,184 | $301,405,178 |
| SCN | Scorpion Minerals | 0.015 | 25.0 | 10,002 | $4,913,474 |
| DTR | Dateline Resources | 0.005 | 25.0 | 125,000 | $10,065,042 |
| ERA | Energy Resources | 0.003 | 25.0 | 3,343,530 | $44,296,598 |
| PUA | Peak Minerals | 0.006 | 20.0 | 1,937,674 | $12,485,551 |
| PCK | Painchek | 0.033 | 17.9 | 1,483,250 | $45,843,312 |
| PMV | Premier Investments | 36.300 | 17.6 | 210,750 | $4,930,252,565 |
Lanthanein Resources (ASX:LNR) released its quarterly report this morning, outlining where things are at for the junior explorer, which recently got cleared to drill an exciting target at its Lady Grey project, chasing a gold anomaly prospect adjacent to a 1.3Moz gold mine and one of Australia’s largest and highest-grade lithium operations.
Tech company Serko (ASX:SKO) was up on news that it is set to acquire Sabre’s business travel management solution GetThere for $US12 million, a move that increases Serko’s North American presence to become the #2 online booking tool provider. The two companies will now work together to co-develop and co-invest to bring new capabilities to the industry, while the deal “incentivises Sabre co-selling Serko solutions with revenue share”, with up to $US12.75 million.
PainChek (ASX:PCK) has announced preliminary results from a recent US clinical validation study and statistical analysis – including positive performance results in a paired study with the Abbey Pain Scale, which the company says will help pave the way forward for FDA approval for its product.
Premier Investments (ASX:PMV) was up on news that retail giant Myer (ASX:MYR) is set to acquire a number of its big name fashion brands, including Portmans, Just Jeans, Jay Jay’s and Dotti. Premier will receive Myer shares in exchange for the brands, and will now set about focusing on its remaining assets, including Peter Alexander and Smiggle.
LAGGARDS
Stocks highlighted in red have made market-moving announcements (click headings to sort).
| Code | Company | Price | % | Volume | Market Cap |
|---|---|---|---|---|---|
| RNE | Renu Energy | 0.001 | -50.0 | 1,336,010 | $1,777,157 |
| SER | Strategic Energy | 0.01 | -41.2 | 6,971,414 | $11,407,567 |
| GDA | Good Drinks Aus | 0.235 | -27.7 | 287,665 | $42,942,796 |
| RIL | Redivium | 0.003 | -25.0 | 325,000 | $10,987,419 |
| TOU | Tlou Energy | 0.017 | -19.0 | 1,327,900 | $27,270,271 |
| SNG | Siren Gold | 0.095 | -17.4 | 1,820,256 | $23,824,998 |
| MOH | Moho Resources | 0.006 | -14.3 | 250,000 | $3,774,247 |
| CTT | Cettire | 1.87 | -12.6 | 3,110,638 | $815,849,791 |
| BC8 | Black Cat Syndicate | 0.555 | -12.6 | 3,483,882 | $281,666,745 |
| M4M | Macro Metals | 0.007 | -12.5 | 6,627,646 | $28,984,855 |
At Stockhead we tell it like it is. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
