Stocks to Watch: Nike, on Semiconductor, Synaptics, Algoma, Venture Global
Dow Jones
2 hours ago
Nike guided for a sales decline in the new fiscal year as the company continues to struggle with sales in China. The stock fell 8.4% to $32.21 after the bell on Thursday.
ON Semiconductor agreed to buy Synaptics in a $5.7 billion all-cash deal, amending its initial agreement for a roughly $7 billion, all-stock deal. Shares of Synaptics jumped 15% to $121.94, while ON shares gained 6.5% to $85.25.
Algoma Steel Group said it expects to report a 65% decline in steel shipments in the third quarter, citing the impacts of a turbine outage. Shares shed 2.4% to $4.01.
Venture Global agreed to sell 1 million metric tons of liquified natural gas to ConocoPhillips every year for 20 years, beginning in 2030. Its stock was up 2.6% at $13.10.
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