Stocks

Australian property developer Peet Ltd reported FY26 results, with net operating profit up 77% year-on-year to $103.4 million and operating earnings per share also up 77% to 22.1 cents. Total FY26 fully franked dividends rose 68% to 13.0 cents per share. Revenue increased 3% to $450.2 million and EBITDA climbed 54% to $162.8 million, lifting the margin to 36%. The company said the performance was supported by strong project sales in Western Australia and Queensland and a robust development pipeline.

Indian equities closed slightly lower, with the Nifty50 ending at 24,219, down 33 points. The government plans to sell up to 6% in Hindustan Copper through an offer for sale at a roughly 10% discount. Tata Consultancy Services said Porsche AG has signed a five-year strategic deal with MHP and TCS valued at €1.25 billion. ICICI Bank priced $1 billion senior unsecured notes.

AUB Group reported FY26 underlying net profit after tax (NPAT) of A$224.6 million, up 12% year on year. The company raised its fully franked final dividend to 71 cents per share, taking the full-year dividend to 98 cents, up 7.7%. Underlying earnings per share increased to 183.69 cents. Leverage remained at 2.30x, with A$330.5 million of accessible liquidity at period end.

Broadcom shares fell as bond investors priced in higher risk. The yield on its 5.15% bonds due in 2031 has risen about 14 basis points so far in August, while its five-year credit default swap spread widened 28 basis points, reflecting concerns about its ability to repay debt. The move comes as the company discusses an AI financing package worth more than $60 billion after it previously supported most of a $35 billion debt package.

Canadian Natural Resources (CNQ) reported record second-quarter production of 1.7 million barrels of oil equivalent per day, up about 18% from a year earlier. Adjusted net income from operations rose to $4.6 billion, or $2.20 per share, more than doubling year over year, while adjusted funds flow jumped 110% to $6.9 billion. The company has grown its dividend at an annualized rate of about 20% over the past 26 years and currently offers a 3.5% forward dividend yield. After deploying $4.4 billion of capital in the first half, CNQ raised its full-year capital spending guidance to $7.6 billion.

A shortage of clean electricity in Canada could put up to $220 billion in potential capital investment at risk, as demand from mines, factories and data centres rises. Against that backdrop, Capital Power reported second-quarter adjusted funds from operations of $328 million and raised its quarterly dividend by 2%, extending its streak of annual increases to 13 years. The company has also secured Meta as a long-term customer, underscoring the value of contracted clean and dispatchable power when supply is tight.

Nvidia plans to raise prices by more than 15% on several AI servers to offset higher costs for components such as memory. The company reported $81.6 billion in revenue last quarter, up 85% year over year, including $75.2 billion from its Data Center business, which rose 92%. Non-GAAP gross margin was 75%, and Nvidia guided fiscal second-quarter revenue to roughly $91 billion while maintaining a 75% non-GAAP gross margin.

Applied Materials has fallen more than 34% from its 52-week high, even as the company posted record Q3 revenue of $9.1 billion, up 25% year over year. Adjusted EPS rose 41% to $3.50, while adjusted gross margin increased to 50.4% and adjusted operating margin reached a record 34%. The pullback comes as AI infrastructure investment continues to support demand for semiconductor equipment. After the sharp decline, the stock’s risk-reward profile appears more attractive.

Archer Aviation has partnered with AEG to develop a vertiport at L.A. Live in downtown Los Angeles as it works to build an urban air-taxi network ahead of the 2028 Olympic and Paralympic Games. The site is intended to help position the company for elevated transportation demand during the Games. The planned development is part of Archer’s broader effort to put key infrastructure in place before the event.

Wedbush analysts said SK hynix has launched a $3 billion share repurchase program and plans to return more than 50% of free cash flow to shareholders, a move they expect could help narrow the stock’s valuation discount. The analysts also said the company could deliver an additional $130 billion in shareholder returns by 2027, supported by continued gains in memory-chip prices. SK hynix’s operating margin rose by 35 percentage points to 76%.