BUSINESS

SYDNEY, Australia — The S&P/ASX 200 index fell 97.80 points, or 1.13%, to close at 8,574.00 on Thursday, April 2, 2026, extending recent weakness as persistent geopolitical tensions in the Middle East, elevated oil prices and concerns over sticky inflation continued to weigh on investor sentiment.

NVIDIA Corp. landed at No. 6 on Fortune's 2026 list of the 100 Best Companies to Work For, the chipmaker announced Wednesday, highlighting its ability to maintain a high-trust culture even as it powers the global AI revolution and navigates explosive growth.

Shares of Axe Compute Inc. more than doubled Wednesday, surging as much as 102% to trade around $3.32 midday after the company announced $12 million in newly executed agreements expected to generate roughly $835,000 in monthly recurring revenue as it ramps up its enterprise GPU infrastructure business.

Shares of Cyclerion Therapeutics Inc. skyrocketed more than 313% Wednesday, surging from around $1.55 at Tuesday's close to trade near $6.47 midday as the micro-cap biotech announced a transformative all-stock merger with privately held Korsana Biosciences Inc.

Nike Inc. shares tumbled more than 14% Wednesday, plunging as low as $45.19 intraday after the athletic giant issued a disappointing sales forecast for the current quarter despite beating Wall Street expectations for its fiscal third quarter.

Netflix Inc. shares edged lower Wednesday, trading around $95.66 midday after closing at $96.15 the previous session, as Wall Street positioned for the streaming giant's first-quarter 2026 earnings report scheduled for April 16.

Intel Corp. shares jumped more than 9% to $48.39 in morning trading Wednesday, extending a remarkable recovery that has seen the chipmaker's stock more than double over the past year as investors bet on the company's aggressive foundry ambitions, AI processor momentum and progress under the U.S. CHIPS Act.

Alphabet Inc. shares rose more than 2% to around $294.42 in morning trading Wednesday as investors weighed the Google parent's aggressive push into artificial intelligence against its dominant search business and surging cloud revenue, with most Wall Street analysts maintaining a strong buy rating and projecting further gains over the next five years.

GameStop Corp. shares traded near $23 early Wednesday, inching up slightly in thin pre-market and morning action on April 1, 2026, as the meme-stock favorite continued its relatively stable performance following last month's fiscal fourth-quarter results that showed record annual profit even as revenue declined.

SYDNEY — Australia's largest bank, Commonwealth Bank, delivered a blockbuster half-year cash profit of $5.45 billion in early 2026, fueled by robust lending growth and market share gains in home loans and deposits. Yet the celebration was short-lived as the bank revealed it is investigating up to $1 billion in potentially fraudulent mortgages, some allegedly involving AI-generated fake documents, and has referred the matter to police.

LONDON — London's benchmark FTSE 100 index climbed sharply in early trading Wednesday, rising 1.58% or 160.48 points to 10,336.93 as investors appeared to shake off recent geopolitical jitters and bargain-hunt after a volatile March, with the blue-chip gauge trading in a wide range between 10,169.30 and 10,366.46 by mid-morning.

Shares of Palantir Technologies Inc. climbed sharply Tuesday as the data analytics and artificial intelligence powerhouse continued to ride momentum from blockbuster government contracts, accelerating commercial adoption of its AI platform and strong 2026 revenue guidance that has Wall Street buzzing about sustained hyper-growth.

NEW YORK — Pfizer Inc. shares ticked up modestly Tuesday as investors weighed fresh positive oncology data against the pharmaceutical giant's flat revenue guidance for 2026 and ongoing pressures from declining COVID-19 product sales.

Shares of Centessa Pharmaceuticals plc skyrocketed more than 44% Tuesday after the clinical-stage biotech announced it would be acquired by pharmaceutical giant Eli Lilly and Co. in a deal valued at up to $7.8 billion, giving Lilly a promising pipeline of experimental treatments for sleep-wake disorders.

NEW YORK — A wave of high-profile companies has accelerated its departure from New York in 2026, citing soaring taxes, burdensome regulations and a shifting political climate under Mayor Zohran Mamdani as key drivers behind the ongoing business exodus to lower-cost Sun Belt states like Florida and Texas.

Shares of Apellis Pharmaceuticals Inc. exploded more than 135% Tuesday after the biotech company announced it would be acquired by larger rival Biogen Inc., in a deal that promises to supercharge growth in immunology, rare diseases and nephrology.

NEW YORK — NVIDIA Corp. shares jumped more than 3% in morning trading Tuesday, climbing toward $170.80 as investors welcomed signs of potential de-escalation in the U.S.-Iran conflict and bet on continued explosive demand for the company's artificial intelligence chips.