BUSINESS

Nvidia shares fell 7.64% in a broad sell-off across AI and semiconductor stocks, pushing the Nasdaq sharply lower as investors assessed AI spending concerns and awaited the company's quarterly results.

AppLovin shares surged nearly 33% after record third-quarter revenue and profit, a stronger-than-expected forecast and expanded buybacks eased concerns following the stock's earlier sell-off.

Xeris Biopharma shares surged nearly 29% after quarterly revenue rose 44%, Recorlev sales nearly doubled, profitability improved and the company raised its financial targets.

Warby Parker shares surged 23% after the eyewear retailer reported double-digit revenue growth, stronger margins and adjusted EBITDA above guidance, despite slightly missing revenue expectations.

ADMA Biologics shares rose 23% after the company reported stronger third-quarter profit, record gross margins and raised full-year earnings guidance, driven by Asceniv growth.

Vericel reported record third-quarter revenue of $85.4 million, a sharp rise in net income and stronger full-year guidance, sending its shares 21% higher.

Coles and Woolworths have stopped stocking Sara Lee's one-litre ice cream tubs, but the range remains available at IGA and independent supermarkets across Australia.

Victoria's October 2026 owners corporation reforms could make apartment investments easier to manage, but they do not guarantee lower costs, stronger capital growth or better returns than houses.

Oil prices fell for a fourth consecutive session as traders anticipated reduced war risks and possible US-Iran talks, while rising supply and regional tensions continued to cloud the outlook.

Intel CEO Lip-Bu Tan bought 150,000 shares worth nearly US$10 million, but Intel's stock continued falling after a record monthly decline and disappointing forecast.

NextDC shares surged 48% after Goodman Group and Digital Realty Trust sought up to 9.9% of the data centre operator at a substantial premium, reviving speculation about a potential takeover.

Neuren Pharmaceuticals shares rose nearly 17% after stronger Daybue sales and a US$35 million milestone payment prompted the company to raise its 2026 royalty income guidance.

Genesis Minerals shares climbed 14.8% as higher gold prices lifted Australian mining stocks, with investors also focused on next week's shareholder vote on its proposed Vault Minerals merger.

Greatland Resources shares jumped 14.6% as gold prices rebounded and Australian mining stocks rallied, with investors encouraged by strong quarterly cash flow and progress on Havieron.

Zip shares jumped 15.7% to A$2.14 as investors moved into growth stocks after the US midterm elections, while the company maintained guidance despite fraud costs and credit risks.

Australian shares rallied sharply after Democrats' US midterm victories, with the ASX 200 rising 2.61% above 9,000 as NextDC, technology and resources stocks surged.

David Jones has entered voluntary administration and receivership after rent talks with Scentre Group broke down, leaving 6,000 jobs and the retailer's future uncertain before Christmas.

US stocks rallied sharply after midterm results, with the Dow gaining more than 1,000 points as investors anticipated divided government and fewer sweeping policy changes.

Clear Secure shares surged nearly 26% after the company reported stronger third-quarter profit, rapid membership growth, a record share buyback and higher full-year free cash flow guidance.

Kyndryl shares jumped more than 26% after the IT services company beat adjusted earnings forecasts, reported strong contract signings and reaffirmed its full-year financial outlook.

Duolingo shares jumped nearly 28% after the language-learning app reported accelerating daily active user growth, higher-than-expected revenue and an upgraded full-year sales outlook.

Bruker shares surged after adjusted third-quarter earnings exceeded forecasts and margins expanded, offsetting modest revenue growth and a $174.5 million non-cash goodwill impairment charge.

LivaNova shares rose nearly 17% after the medical technology company reported double-digit growth in both main businesses, beat adjusted earnings expectations and raised its 2026 outlook.

Block shares rose 6.4% in Sydney after the payments company beat third-quarter forecasts, reported stronger growth at Cash App and Square, and raised its full-year outlook again.

BCI Minerals shares gained more than 4% as its Mardie salt project reached 90% construction completion, with first salt exports still targeted for the first half of 2027.

Endeavour Group shares rose 3.5% after first-quarter sales increased 2.8%, extending a rebound despite weaker pub performance, margin pressure and mixed analyst recommendations.

Viva Energy shares rose 3.33% as investors balanced surging Geelong refining margins and a strong annual gain against volatile oil prices, fire-related constraints and strategic changes.

Telix shares gained almost 3% as investors weighed steady revenue growth, Pixclara's US approval, the planned ITM acquisition and upcoming milestones against risks to future margins.

The ASX 200 fell 0.72% as investors assessed US midterm election results and the RBA's latest rate rise, with financial and healthcare stocks leading losses.