Midday Market Movers: Tesla Surges, Broadcom Advances, Nike Slides, ON Semiconductor Expands Synaptics Acquisition, and Other Notable Stock Moves

Midday stock movements show Tesla rising 5% after reporting third‑quarter vehicle deliveries of 486,532 units, beating the FactSet consensus of 461,100. Broadcom climbed over 3% following a Reuters report that the chipmaker will lend Anthropic up to $42 billion to fund infrastructure purchases. Nike fell nearly 6% after fiscal‑first‑quarter revenue missed expectations, with a 4% sales decline driven by weakness in China and plans for staff cuts in 2027. Shares of Synaptics surged 14% and ON Semiconductor rose more than 5% after ON Semi raised its buyout offer for Synaptics to $123 per share, valuing the deal at $5.7 billion. Nexalin Technology dropped 26% after agreeing to a 10‑year distribution and manufacturing partnership with Inovanexa Medical Technologies, replacing a prior letter of intent. Vylor advanced 2% after being selected to join the S&P 500 following its spinoff from Corteva. Corteva declined 3% as it moves to the S&P MidCap 400. Seagate Technology and Western Digital fell 13% after a Nikkei report that Toshiba will double data‑center HDD capacity and invest $380 million in the Philippines. Allegro Microsystems jumped 9% after RBC Capital Markets initiated coverage with an outperform rating and a $50 price target (≈37% upside). Arxis Components rose 4% on an RBC upgrade to outperform, with a $60 price target suggesting a 26% gain. Onto Innovation advanced over 5% after RBC began coverage, projecting 80% growth in its advanced packaging business and setting a $400 price target (≈27% upside).

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