Stocks making the biggest moves at noon: Close the Loop, Technology One, Elders and more

These are the companies and sectors making headlines in afternoon trade.

Close the Loop (ASX: CLG) – Shares soared 17% after receiving an indicative, non-binding and conditional proposal from Adamantem Capital at 27 cents per share or a 31% premium to the stock's previous close. "Following careful consideration and consultation with its advisers, the Directors of the Company have determined that it is in the best interests of shareholders to progress the Indicative Proposal," the company said in a statement.

Technology One (ASX: TNE) – Shares rallied 10.6% after the company reported a solid set of FY24 results and ambitious long-term growth targets. The key highlights from the result include:

• Total revenue up 17% to $515.4 million (Consensus: $501.7m)

• Profit after tax up 15% to $118 million (Consensus: $119.5m)

• Total annual recurring revenue up 20% to $470.2 million

• Cash flow generation up 14% to $119.0 million

• Full year dividend up 16% to 22.45 cents per share

• Strong ARR and profit growth for FY25, on track to surpass $500m ARR by first-half of FY25

• A new long-term target of $1bn ARR by FY30, and continue to double in size every five years

SRG Global (ASX: SRG) – Shares in the diversified infrastructure services company rallied 6.7% after securing $700 million of contracts with existing clients in the Water, Transport, Health, Resources and Dairy sectors across Australia and New Zealand. Most of the works are expected to be complete between mid-2025 and 2026.

Wagners (ASX: WGN) – Shares in the construction company rallied 5.3% to levels not seen since April 2022. The company provided a first-half FY25 trading update, including a full-year EBIT guidance of $16-18 million (Consensus: $16.7 million). The company said cement volumes have been steady while concrete volumes continued to increase, with October being a record month.

Stocks rallying on no market sensitive announcements – Block (+6.3%), Zimplats (+6.2%), PYC Therapeutics (+6.1%), Imricor Medical Systems (+5.5%), Maas Group (+4.0%)

Elders (ASX: ELD) – Shares in the diversified agriculture business dipped 7.6% following the completion of a $246 million capital raising at $7.85 per share or a 9.2% discount to its last closing price. The proceeds will fund the company's plan to acquire Delta Agribusiness – An Australian agribusiness providing rural products and advisory services through a network of 68 locations and approximately 40 independent wholesale customers.

IPH (ASX: IPH) – Shares fell 3.6% after a 3.2 million share block trade crossed around $4.90 to $4.95 a piece, according to various sources.

Stocks selling off on no market sensitive news – Race Oncology (-7.9%), ARN Media (-4.1%), Super Retail Group (-3.6%), Neuren Pharmaceuticals (-3.0%)