Hot Stocks: Imdex, Sprintex, Sunrise Energy Metals

Wall Street wrapped up last week with fresh record highs, as all three major US indexes closed in positive territory on Friday. The S&P 500 gained 0.4% to log its fifth consecutive record close at 6,388.64, while the Nasdaq rose 0.24% to 21,108.32—its 15th record for the year. The Dow Jones climbed 208 points, or 0.47%, to 44,901.92, just shy of its all-time high. For the week, the S&P 500 led gains with a 1.5% rise, followed by the Dow’s 1.3% and the Nasdaq’s 1%. The momentum was fuelled by a strong corporate earnings season, with more than 82% of S&P 500 companies beating expectations. Notably, Alphabet surged 4% and Verizon added 5% after better-than-expected results.

This week brings a heavy slate of earnings, with more than 150 S&P 500 companies, including Meta and Apple, set to report. Meanwhile, investors are also focused on the US Federal Reserve, which will announce its interest rate decision on Friday morning AEST. While no change is expected, Fed Chair Jerome Powell’s comments will be closely analysed for any indication of a potential September cut. Key economic releases including non-farm payrolls and the Fed’s preferred inflation gauge could add to market volatility. 

Back in Australia, the ASX is set for a softer start, with SPI 200 futures down 5 points and the index sitting just 1% below record highs. Rio Tinto kicks off local earnings season, and Wednesday’s consumer price index report looms large. Westpac expects quarterly CPI to rise 0.9%, with annual inflation easing to 2.3%, while the RBA’s trimmed mean is forecast to reach 2.7%, data that could prove pivotal for a potential rate move in August.

Imdex (ASX:IMD) has acquired an 80.5% stake in ESA for $26 million, with the remaining 19.5% to be acquired after four years. ESA’s cloud-based EarthNET platform integrates geological datasets and applies machine learning to enable faster and more accurate resource interpretation. The acquisition is part of Imdex’s digital strategy to expand beyond minerals into energy, infrastructure, and geothermal markets. EarthNET will be integrated with Imdex’s existing platforms like Datarock and aiSIRIS. ESA is already in early adoption with major oil and gas companies, and the deal is expected to contribute A$4 million in revenue in FY26, breaking even at the EBITDA level.

Sprintex (ASX:SIX) has entered an exclusive three-year supply deal with Guangdong Baode Technology (BD Compressor) to supply its G15 series jet blowers for use in China’s massive pond-based aquaculture industry. The deal includes a minimum order value of $9.3m, with an initial $320,000 order in Q1. This is Sprintex’s first private-label agreement and provides a scalable entry into a sector producing over 50 million tonnes of seafood annually. The company expects to benefit from regulatory shifts favouring energy-efficient equipment, and the agreement is seen as a strategic growth platform in China.

Sunrise Energy Metals (ASX:SRL) announced further high-grade scandium assays from its April–May RC drilling campaign at the Syerston project in NSW. The results confirm shallow and continuous mineralisation, with several intervals above 700ppm scandium and one reaching 869ppm over 16m. These findings will feed into a revised Mineral Resource Estimate and a feasibility study update due in September. The company highlights the strategic value of scandium amid Chinese export controls, which have tightened global supply and increased the metal’s significance in sectors like 5G and advanced alloys.