Midday Market Movers

Stocks making the biggest moves at noon: SG Fleet Group, IPD Group, Megaport and more

Mon 25 Nov 24, 12:24pm (AEDT)
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These are the companies and sectors making headlines in afternoon trade.

LiveHire (ASX: LVH) – Shares in the microcap recruitment and sourcing platform rallied 66% after the company received an all cash, unconditional and on-market takeover bid by Humanforce Holdings at 4.5 cents per share (66% premium to last close). Humanforce currently holds 87.7% of all LiveHire shares.

SG Fleet Group (ASX: SGF) – Shares in the mobility solutions company rallied 23.6% after the company confirmed that it is in discussions with Pacific Equity Partners for a potential takeover bid, which values the company at $3.50 per share or a 31% premium to the stock's last close.

Novonix (ASX: NVX) – Shares rallied 14.2% after the battery materials and technology company signed a five-year binding offtake agreement with PowerCo for a minimum of 32,000 tonnes per annum of high-performance synthetic graphite material. PowerCo was established by Volkswagen in 2022 and the deal is set to commence in 2027.

Electro Optic Systems (ASX: EOS) – Shares in the space, defence and communications company rallied for a second consecutive session, up 8.0% after a 6.6% rally last Friday. Last week, the company announced the sale of its EM Solutions business for an enterprise value of $144 million. EM Solutions was acquired in a scrip-based transaction in 2019 for $26 million. The proceeds will be used to support the company’s core business, including the counter-drone market.

SelfWealth (ASX: SWF) – Shares in the Australian trading platform gained another 6.0% after the company's Board recommended shareholders to vote in favour of Bell Financial Group's revised cash takeover of 25 cents per share. The Scheme is subject to customary conditions including Selfwealth shareholder approval, no material adverse change to Selfwealth's business, no prescribed occurrences and court approval.

Lovisa (ASX: LOV) – Shares ticked 4.0% higher after the stock received an upgrade from Jarden. The analysts bumped their rating from Neutral to Buy but shaved their target price from $30.59 to $29.03. "While we consider there to be some execution risk reaccelerating the store rollout, we believe this has been largely priced in and still view LOV as having a strong long-term rollout opportunity," the analysts said.

Stocks rising on no market-sensitive news include Paradigm Biopharmaceuticals (+12.3%), Lindian Resources (+9.1%), TerraCom (+7.5%), Mayne Pharma (+6.0%), Latin Resources (+5.7%), Appen (+4.8%), WA1 Resources (+4.6%)

IPD Group (ASX: IPG) – Shares in the electrical solutions company tumbled 10.3% after announcing a downbeat 1H25 earnings guidance. The company expects 1H25 EBITDA between $22.5m and $23.1m. At the midpoint, this represents a 8.0% decline compared to the prior period. " We have seen our order book transition from daily trade to larger and more complex orders, which typically have longer lead times and less certainty around delivery timing," noted Chief Executive Michael Sainsbury.

Megaport (ASX: MP1) – Shares eased another 3.5% after a 9.5% selloff on Friday. The company held its AGM last week, where the company reaffirmed its FY25 guidance and FY26 outlook – which fell short of analyst expectations. Macquarie analysts retained an Outperform rating but cut their target price from $10.70 to $10.20 this morning.

Stocks falling on no market-sensitive news include Peninsula Energy (-9.6%), Southern Cross Electrical Engineering (-7.8%), Clarity Pharma (-5.9%), Resolute Mining (-4.3%) and Catalyst Metals (-4.3%)

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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