Nike shares fell over 10% after missing revenue expectations for its fiscal first quarter, with sales down 4% and declines in its China business, while the company announced layoffs planned for 2027. ON Semiconductor will acquire Synaptics for $123 per share in cash, a transaction valued at $5.7 billion down from the prior $7 billion agreement, sending Synaptics up over 14% and ON Semiconductor up 7%. Nexalin Technology plummeted over 18% despite a 10-year distribution deal for its neurostimulation device across seven South American countries. Vylor, recently spun off from Corteva, was added to the S&P 500 and now replaces Corteva, which was downgraded to the S&P MidCap 400. Seagate Technology and Western Digital fell over 11% and 8% respectively after Toshiba announced a $380 million investment to double its hard disk drive production capacity for data centers in the Philippines.
Source: Read the original article
