Hot Stocks: Tourism Holdings, Bubs Australia, GenusPlus Group

US markets closed sharply lower on Friday as the escalating conflict between Israel and Iran triggered a broad risk-off move. The Dow Jones plunged 769 points (1.79%) in its worst session in months, while the S&P 500 and Nasdaq lost 1.13% and 1.30% respectively. The week’s modest gains were wiped out, leaving all three major indices in the red. Tech stocks led the decline—Nvidia among the hardest hit—while energy and defence stocks gained, with ExxonMobil up 2% and Lockheed Martin and RTX rising more than 3%. Brent crude jumped over 7% to US$74.23 a barrel and gold surged to a two-month high, as investors sought safety amid fears the violence could widen into a broader regional war.

Looking ahead in Australia, the ASX is set to open lower, with SPI futures down 20 points to 8532, reflecting the global unease. Volatility in oil and gold markets may fuel further swings, particularly as traders weigh the economic fallout from Middle East tensions alongside domestic concerns. Prime Minister Anthony Albanese is expected to meet President Trump this week for talks likely focused on defence cooperation and regional security. 

Tourism Holdings Ltd (ASX/NZX:THL) received an unsolicited, non-binding indicative offer from a consortium led by BGH Capital and the Trouchet family for NZ$2.30/share in cash. The offer is conditional on due diligence, debt funding, and board recommendation. BGH already controls 19.99% of THL via direct purchases and cooperation with the Trouchets. The board has formed a subcommittee and engaged advisors, while executive Luke Trouchet has stepped aside from his THL role due to conflict of interest. There is no guarantee the NBIO will lead to a formal offer, but the move highlights strategic interest amid THL’s recent operational challenges.

Bubs Australia Ltd (ASX:BUB) confirmed it has submitted clinical trial data to the US FDA under the New Infant Formula Submission (NIFS) process, covering all three formula products currently sold in the US. The submission caps off what Bubs claims is the world’s largest clinical trial for infant formula, involving 478 infants over 16 months. CEO Reg Weine highlighted the US as Bubs’ largest and fastest-growing market, with FDA permanent access expected by year-end. This represents a significant regulatory and strategic milestone for Bubs, currently operating under “enforcement discretion.”

Genus was awarded a ~$65 million contract by Atmos Renewables to design and construct the Merredin Battery Energy Storage System (100MW, 4-hour) and associated substation in WA. Execution is conditional on project financial close, expected in the coming weeks. The 18-month project enhances Genus’ presence in Australia’s energy transition space and is set to employ ~70 personnel using significant local content. The project will support grid stability in the WA electricity market and is adjacent to the Merredin Solar Farm.