Nike Falls 10% on Revenue Miss; ON Semiconductor to Buy Synaptics for $123 a Share

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3▲3 ▼3Impact / 5
Summary · why it matters

Nike shares fell more than 10% in premarket trading after the company missed revenue expectations against LSEG consensus for its fiscal first quarter, reporting sales down 4% on declines in its China business and announcing plans to lay off staff in 2027. Synaptics shares jumped over 14% and ON Semiconductor shares rose more than 7% following reports that ON Semiconductor will acquire Synaptics for $123 per share in cash, a transaction now valued at $5.7 billion, down from the prior agreement of $7 billion. Nexalin Technology shares dropped over 18% premarket after the medical device company announced a 10-year distribution and manufacturing deal with Inovanexa Medical Technologies on Thursday, clearing its Nexalin Sync neurostimulation device for distribution across seven South American countries. Vylor shares gained slightly after the seeds and genetics company was added to the S&P 500 on Thursday, following its spinoff from Corteva, which will move to the S&P MidCap 400. Seagate Technology and Western Digital shares fell over 11% and 8% respectively after a Nikkei report that Toshiba will double its production capacity for data-center hard disk drives and invest $380 million to expand facilities in the Philippines.

Impact on assets 9

Cloud & Digital Infrastructure▼ · 2 stocks
Western Digital Corporation
WDC
▼ NegativeCompetitionrelevance

Toshiba will double data-center HDD production capacity, intensifying competition against Western Digital's HDD business.

Seagate Technology PLC
STX
▼ NegativeCompetitionrelevance

Toshiba will double its data-center HDD production capacity and invest $380 million, threatening Seagate's competitive position.

Consumer Discretionary▼ · 1 stocks
Nike Inc
NKE
▼ NegativeCapitalrelevance

Nike missed revenue expectations and reported sales down 4% with China declines and planned layoffs.

Semiconductors▲ · 1 stocks
Artificial Intelligence▲ · 1 stocks
Synaptics Incorporated
SYNA
▲ PositiveCapitalrelevance

Synaptics jumped over 14% on reports ON Semiconductor will acquire it for $123 per share in cash.

Health Care▲ · 1 stocks
Nexalin Technology Inc.
NXL
± MixedRegulationrelevance

Nexalin announced a 10-year distribution/manufacturing deal clearing its neurostimulation device for seven South American countries, yet shares dropped 18%.

Industrials▲ · 1 stocks
Toshiba Tec Corp.
6588
▲ PositiveSupplyrelevance

Toshiba is doubling data-center HDD production capacity and investing $380 million to expand Philippines facilities.

Synthetic Biology (non-pharma)▲ · 1 stocks
Others▲ · 1 stocks

Off-coverage companies 1

Inovanexa Medical Technologies S.A.Private± Mixed
relevance

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