Stocks making the biggest moves at noon: Li-S Energy, Zip, Premier Investments and more

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

Li-S Energy LLIS – Shares up 100% after a 54% rally on Monday. The battery cells developer announced yesterday that its new 10Ah semi-solid-state cells have achieved an energy density of 498Wh/kg on first discharge, and 456Wh/kg after cycling. This high energy density makes the light batteries particularly suitable for drones and other small aircraft.

Premier Investments PMV – Shares rallied 12.1% after Myer's board approved a landmark $1 billion acquisition. Under the deal, Myer will acquire Premier's Just Group, which owns popular retail brands including Just Jeans, Jay Jays, and Dotti. Premier, which already holds a 31.2% stake in Myer, will receive 890.5 million Myer shares plus $82 million cash as consideration. This will increase Premier's ownership to 51.5% of Myer's issued capital, while existing Myer shareholders will retain 48.5% and receive a fully franked dividend of 2.5 cents per share.

Zip Co ZIP – Shares in the Buy Now, Pay Later company rallied 10% after reporting a bumper 1Q25 report. The stock is now up 940% in the past twelve months. Some of the key 1Q25 highlights include:

• Group cash EBTDA up 233.7% to $31.7 million

• Total transaction volumes up 22.8% to $2.8 billion

• Revenue margin down 30 bps to 8.5%

• Net bad debts approximately 1.6% of total transaction volumes, down from 1.9% a year ago

• Cash transaction margin up 30 bps to 3.9%

Southern Cross Electrical Engineering SSXE – Shares up 5.5% after the company reaffirmed its full-year EBITDA guidance of at least $53 million and guided to further growth beyond FY26.

Cettire CTT – Shares in the online luxury retailer dipped 9.8% after reporting Q1 adjusted EBITDA of $2.0 million, up from $1.6 million a quarter ago. “Over the course of the first quarter we addressed the softer trading conditions and continued heightened promotional activity in the global luxury sector by optimising operating settings to reflect our increased emphasis on profitability," said CEO Dean Mintz. Revenue for the quarter ticked 22% higher to $155 millon, underpinned by a rise in average order values ($777 vs. $731 a year ago) and a 43% increase in active customers to 698,066.

Coronado Global CRN – Reported Q3 2024 run-of-mine production of 6.3 million tonnes or 4.5% below analyst expectations. Shares slipped 5.1% in afternoon trade. The company reiterated its 5 September guidance, which included:

• The continued impact of rainfall has hindered full-year production outlook

• Saleable production of 15.4-16.0Mt vs. prior 16.4-17.2Mt

• Mining cost per tonne sold of 105-110 a tonne vs. prior 95-99

• Reaffirmed capex between $220-250 million

Paladin Energy PDN – Shares in the uranium producer slid for a second day, down 2.5% after a 15% selloff on Monday. The company's Q1 production was disappointing, with production at its Langer Heinrich Mine falling short due to ore grade variability and water recovery issues. The pending Fission Uranium acquisition remains another focal point, seen as a strategic boost for Paladin if approved, though some analysts voiced concerns over regulatory delays that could impact timelines. Several brokers including Morgan Stanley, Jefferies and Argonaut Securities lowered their target prices slightly.

Ramelius Resources RMS – Shares eased 2.4% after the company's Q3 2024 report reaffirmed full-year guidance of 270-300,000 ounces of gold at an all-in sustaining cost of A$1,500-1,700. Ramelius said production at its Mt Magnet Project will be weighted towards the second half, when high-grade Cue and Penny ore is processed. The $2.6 billion market cap company has $438.6 million of cash and gold, with underlying free cash flow of $89.6 million for the quarter.

Black Cat Syndicate BBC8 – Shares dipped 12% after receiving firm commitments for a $80 million placement at 52 cents per share (18% discount to previous close). The proceeds will be used to accelerate and expand gold production, including the construction of an enlarged processing facility at the Kal East Gold Project. “Our gold acceleration strategy is all about more gold, sooner. We will accelerate and expand production while drilling numerous compelling high priority targets to rapidly grow resources/reserves," said Managing Director Gareth Solly.