TSLA, AVGO, NKE, ON & more
Check out some of the companies making the biggest moves midday: Tesla — Elon Musk ‘s electric vehicle maker rose 5% after reporting third-quarter deliveries above Street expectations. Tesla delivered 486,532 vehicles in the latest three-month period versus the 461,100 units expected by analysts polled by FactSet. Broadcom — The semiconductor maker rose more than 3% after Reuters reported Broadcom has agreed to lend Anthropic up to $42 billion to finance infrastructure purchases . Investment banks are seeking to raise $42 billion of Class A senior secured debt and $18 billion in Class B debt, Bloomberg reported . The debt will allow Anthropic to buy or lease chips and other computing hardware. Nike — The athletic shoe maker fell almost 6% after Nike’s fiscal first-quarter revenue missed analyst expectations, according to LSEG data. Nike reported a 4% slide in sales, citing declines in China. The company also announced plans to lay off staff in 2027. ON Semiconductor , Synaptics — Synaptics surged 14% and ON Semiconductor by more than 5% after ON Semi revised its buyout offer for Synaptics to $123 a share, or $5.7 billion. Nexalin Technology — The medical device company’s shares plunged 26% after it agreed to a 10-year distribution and manufacturing deal with Inovanexa Medical Technologies that supersedes a prior letter of intent from February. Nexalin’s Sync neurostimulation device has been approved for distribution in seven South American countries. Vylor — The seed and genetics company added 2% after being named to enter the S & P 500 following its spinoff from Corteva on Thursday. Corteva, down 3%, will move to the S & P MidCap 400. Seagate Technology , Western Digital — Both Seagate and Western Digital tumbled 13% following a Nikkei report that Japan’s Toshiba will double its production capacity for hard disk drives used in data centers, and invest $380 million to expand facilities in the Philippines. Allegro Microsystems — Shares popped 9% after RBC Capital Markets began research coverage with an outperform rating and price target of $50 per share, implying 37% upside from Thursday’s close of $36. Allegro, which designs and makes high performance and magnetic sensing semiconductors, should see its data center revenue more than double in fiscal 2027, RBC estimated. It also sees Allegro’s high-efficiency motor drivers benefiting from the demand for power supplies and network switching equipment. Arxis — The designer of aerospace components jumped 4% on the back of an upgrade to outperform from RBC Capital. “As a leading supplier of components into the [aerospace and defense] and industrial markets, ARXS has materially outperformed initial estimates since its 2026 IPO,” said analyst Ken Herbert. The bank’s new price target of $60 suggests Arxis could gain 26% from Thursday’s close. Onto Innovation — The supplier of inspection tools for the semiconductor industry advanced more than 5%. RBC initiated coverage with an outperform rating, saying the company’s advanced packaging business is on pace for 80% growth this year. RBC’s price target of $400 would equal some 27% upside from Thursday’s close. — With additional reporting by CNBC’s Ananya Chetia, Davis Giangiulio, Paulina Likos, Tobias Burns and Darla Mercado
