BUSINESS

Zip shares fell 4.5% to A$2.025, extending a steep annual decline despite record fiscal 2026 earnings, strong US growth and plans for a share consolidation.

Reliance Worldwide shares fell more than 4% as investors assessed uncertainty around Brookfield's potential A$4.75-per-share takeover proposal, alongside tariff pressures and weaker market demand facing the plumbing products maker.

GenusPlus shares fell nearly 4% after NextDC cut its fiscal 2027 guidance, triggering a broader sell-off in companies exposed to data centre and power infrastructure projects.

The ASX 200 edged lower after NextDC shares plunged more than 40% over a data-centre power delay, offsetting gains in James Hardie and a positive Wall Street lead.

ASIC is investigating a Sydney-based financial services firm over alleged links to overseas investment operators accused of using its Australian licence to target investors and contribute to reported losses of $138 million.

RBA Deputy Governor Andrew Hauser says Australia's inflation outlook has deteriorated since August, raising market speculation that the central bank could consider a rate increase in November.

Starbucks shares rose nearly 2% towards $100 as investors anticipated the company's fourth-quarter results and assessed progress under CEO Brian Niccol's turnaround strategy.

Telkom Indonesia's US-listed shares rose 8% in early trading despite falling 47% over the past year, as investors await results and assess its restructuring efforts.

Equifax shares rose 7.4% after the credit reporting company reported 10% third-quarter revenue growth, while warning that a weaker US mortgage market could persist through 2026.

Klaviyo shares rose nearly 8% after Salesforce agreed to buy Braze, prompting investors to reassess marketing software stocks despite ongoing concerns about competition and AI disruption.

Hasbro shares rose nearly 9% after Magic: The Gathering generated record quarterly revenue above $600 million, prompting the company to raise its 2026 outlook and increase planned buybacks.

Salesforce has agreed to acquire customer engagement software company Braze for about $5.66 billion in cash, sending Braze shares more than 50% higher in early trading.

SK Hynix shares have plunged more than 50% since June despite record profits, as investors weigh slowing memory price gains, AI spending concerns and Chinese competition ahead of results.

South Korean shares fell sharply, led by Samsung Electronics and SK Hynix, as investors questioned AI investment returns, tracked rising US yields and reduced exposure to riskier assets.

Lay's will release five limited-edition holiday chip flavours in the United States, including roasted turkey, maple bacon, milk chocolate and Dubai-style dark chocolate varieties.

Elon Musk says he plans to give one SpaceX share to every child in the United States in 2027, but key details about eligibility, distribution and taxation remain unclear.

Samsung is heading for its most profitable quarter on record as AI demand drives memory-chip sales, but investors remain divided over slowing price growth, competition and cyclical risks.

Ingenia Communities shares climbed nearly 10% to A$4.65 on Tuesday amid unusually heavy trading, despite no immediately identifiable new announcement and a 17% decline over the past year.

Austal shares rose 7.5% as investors assessed potential interest in Austal USA, while the company's growing defence order book supported a recovery despite earnings concerns.

Cochlear shares rose 5.4% on Tuesday, extending a partial recovery from April's historic sell-off as investors weigh new products, demand concerns and upcoming guidance.

Domino's Pizza Enterprises shares rose 4.18% as investors supported its business reset, despite lower fiscal 2026 revenue, a statutory loss and weaker same-store sales.

Orora shares rose 3.6% to A$1.44 on Tuesday, offering limited relief after a difficult year marked by a €450 million Saverglass writedown and a 28% annual decline.

National Australia Bank plans to eliminate up to 2,500 domestic roles by mid-2027, reduce consultant reliance and redirect savings towards technology and operational efficiency.

Advanced Micro Devices shares gained nearly 4% as semiconductor stocks recovered from last week's sharp sell-off, supported by lower Treasury yields and easing oil prices.

Intel shares rose about 5% after JPMorgan upgraded the stock to Neutral, citing potential earnings growth from agentic AI demand, chip shortages and the company's restructuring efforts.

Micron shares rose more than 4% as memory stocks rebounded after last week's sell-off, with investors weighing Chinese competition against strong AI-related demand.

Disc Medicine shares rose sharply after the company reported positive Phase 3 results for bitopertin in erythropoietic protoporphyria, while seeking a renewed FDA review.

Cleveland-Cliffs shares rose nearly 8% after third-quarter adjusted earnings topped estimates, with the steelmaker forecasting stronger fourth-quarter EBITDA and more than $4 billion in 2027 EBITDA.

AXT shares rose more than 8% after an 11% fall, as investors rotated back into AI-related technology stocks despite the company releasing no market-sensitive news.