BUSINESS

Data#3 shares climbed nearly 8% after the Brisbane-based IT services company forecast first-half fiscal 2027 pre-tax profit growth of up to 70%.

Austal shares rose 7.6% after the company updated shareholders on advanced talks to sell Austal USA and a surge in Australian defence contracts.

Australian shares ended slightly lower after stronger-than-expected inflation lifted expectations of an RBA rate hike, while rising housing and fuel costs added pressure to households.

Nike shares slipped 0.41% in early trading as investors assessed weak China sales, falling revenue and the lengthy recovery plan under chief executive Elliott Hill.

Yelp shares fell 40 cents to $19.06 in early Tuesday trading, extending a longer decline as investors assess advertising demand, competition and the company's product investments.

Celestica reported an 83% rise in third-quarter revenue, lifted its 2026 forecast and projected nearly $40 billion in 2027 sales as AI data centre demand accelerates.

Herc Holdings shares rose more than 10% after the equipment rental company reported record third-quarter rental revenue, beat earnings expectations and raised its full-year 2026 outlook.

Polaris shares rose more than 9% after the company beat third-quarter profit estimates, reported market share gains and raised its full-year 2026 earnings and sales forecasts.

Hawkins reported record second-quarter profit and sales that exceeded analysts' expectations, driven by strong water treatment demand, sending its shares more than 16% higher in early trading.

Kiniksa Pharmaceuticals raised its 2026 Arcalyst revenue forecast to as much as $1.05 billion after quarterly sales of the recurrent pericarditis drug rose 58%.

Japan's Nikkei 225 rose 1.73% as semiconductor shares rallied on renewed AI enthusiasm, while investors weighed US technology earnings, yen weakness and upcoming policy decisions.

South Korean shares rallied sharply as renewed confidence in artificial intelligence boosted Samsung Electronics and SK Hynix, drawing foreign investors back after heavy recent selling.

Chinese shares fell sharply on Tuesday, led by technology and AI stocks, while South Korean and Japanese markets rallied on renewed optimism about artificial intelligence.

Alkane Resources shares rose 7.6% as gold prices steadied, with investors weighing the miner's strong September-quarter production, first dividend and reaffirmed FY27 guidance.

Tasmea shares rose 8.07% to A$9.37 as investors returned after a sharp pullback, while the industrial services group highlighted strong results, acquisitions and risks to its growth strategy.

Minerals 260 shares rose 8.45% after the gold developer said it remained on track for a final investment decision on its Bullabulling project early next year.

PYC Therapeutics shares rose 9.4% after a recent decline, with investors assessing early PYC-003 data and awaiting further results from the biotech's kidney disease trial.

Megaport shares rose 9.6% ahead of its quarterly update, extending a rally driven by its expansion from networking into AI-focused computing infrastructure.

SpaceX and Tesla have formed independent committees to examine a potential merger, Elon Musk said, while stressing that negotiations remain preliminary and no agreement is guaranteed.

Australian shares rose for a second session, supported by mining stocks and renewed AI optimism on Wall Street, while investors awaited inflation data that could influence the RBA's next rate decision.

Shona Joy founder Shona Thatcher has announced the voluntary closure of the Australian fashion label after 26 years, citing family priorities and the demands of running the business.

China's AI-heavy STAR50 index has fallen about 40% from its July peak, erasing roughly US$480 billion in market value and raising concerns about valuations, IPOs and broader technology stocks.

Anthropic's IPO filing details rapid revenue growth, major computing commitments, extensive AI-related risks and a governance structure giving founders and a trust significant control.

Anthropic has publicly filed for an IPO on Nasdaq, but has not set a trading date, offering size or valuation as investors assess its growth, losses and governance.

Nvidia shares rose nearly 2% after Anthropic filed for an IPO and Meta announced plans to raise up to $95 billion to fund artificial intelligence infrastructure.

Surgery Partners shares jumped nearly 46% after HealthSpan Partners agreed to acquire the outpatient surgery operator for about $5.7 billion, including debt, in an all-cash deal.

Apple shares fell after reaching a record high as analyst downgrades, rising memory costs and concerns about production weighed against strong early iPhone Duo demand.

Starbucks shares rose ahead of quarterly results, with investors watching for evidence that Brian Niccol's turnaround is sustaining sales growth and improving customer traffic.

Xencor shares rose nearly 20% after early data showed its experimental kidney cancer drug produced tumour shrinkage in 45.5% of 11 evaluable patients.