By Connor Hart

Applied Digital posted lower-than-expected sales in its fiscal third quarter. The digital infrastructure company notched sales of $52.9 million for its three-months ended Feb. 28, up 22% from last year's comparable quarter but below the $64.8 million that analysts surveyed by FactSet expected. Applied narrowed its third-quarter loss to $35.6 million from $62.8 million. The company posted an adjusted loss of 8 cents a share, ahead of analyst forecasts for an adjusted loss of 10 cents a share. Shares fall 14%, to $4.63, in after-hours trading.

Rocket Lab USA will participate in government development programs for the U.S. and the U.K. The company said it was selected by the U.S. Air Force to participate in the $46 billion Enterprise-Wide Agile Acquisition Contract, which is designed for the rapid acquisition of innovative technologies, engineering services and technical solutions. Additionally, the U.K. Ministry of Defence selected the company as a supplier to the Hypersonic Technologies & Capability Development Framework, which will work to develop advanced hypersonic capabilities. Shares rise 4.1%, to $19.92, in post-market trading.

Allegro MicroSystems won't be acquired by ON Semiconductor, after the power-and-sensor chip company said it saw no actionable path forward for the deal. The disclosure came after onsemi last month submitted the proposal to acquire Allegro to the company's board. At the time, ON Semiconductor said the deal had an implied equity value of $6.9 billion. Shares of Allegro slide 13%, to $19.20, in after-hours trading.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

April 14, 2025 19:41 ET (23:41 GMT)

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