Premarket Stock Movements: Nike, ON Semiconductor, Synaptics, Vylor & Others
Nike's shares fell over 10% in premarket trading after the company missed revenue expectations for its fiscal first quarter and reported a 4% sales decline. The drop was attributed to weaker performance in China and plans for staff layoffs by 2027. Shares of ON Semiconductor surged more than 7%, while Synaptics jumped over 14%. This followed news that ON Semiconductor will acquire Synaptics at $123 per share, reducing the deal value from $7 billion to $5.7 billion due to a drop in stock price since the initial agreement. Nexalin Technology's shares dropped more than 18% after announcing a long-term distribution partnership with Inovanexa Medical Technologies for its neurostimulation device across seven South American countries. Vylor saw slight gains as it was added to the S&P 500 following its spin-off from Corteva, which moved to the MidCap index.
Tickers: $CTVA $NKE $NXL $ON $SE $STX $SYNA $WDC
Topics: acquisition_announcement distribution_deal index_addition layoffs stock_moves