Onsemi (NASDAQ:ON)'s proposed acquisition of Synaptics could create long-term strategic benefits, with Bank of America writing that a meeting with management increased its confidence in the rationale and potential synergies of the transaction.
The analysts wrote that Synaptics adds highly complementary compute assets to Onsemi (NASDAQ:ON)’s existing strengths in power, sensing and control, supporting the company’s ambition to build a complete edge AI portfolio.
Costco Wholesale Corporation (NASDAQ:COST, XETRA:CTO) shares fell about 4% to $913 on Wednesday after the warehouse retailer reported a moderation in June comparable sales growth, though Bank of America analysts maintained their ‘Buy’ rating, arguing the company's value-focused strategy and affluent customer base should continue to support market share gains.
For the five weeks ended July 5, total sales rose 10.6%, while US comparable sales excluding gasoline increased 7.6%. Bank of America noted the result represented a slowdown on both a one-year and two-year stacked basis following a stronger May.
SanDisk (NASDAQ:SNDK) could see upside in its upcoming fiscal fourth-quarter 2026 report, according to Wedbush Securities, which raised its price target on the stock to $2,000 from $1,200.
The semiconductor firm's management had guided fiscal fourth-quarter sales to a range of $7.75 billion to $8.25 billion, with non-GAAP earnings per share of $30 to $33.
Forte Biosciences (NASDAQ:FBRX) shares jumped about 55% after the company reported positive phase 1b clinical trial results for FB102, an investigational therapy for vitiligo, showing statistically significant improvements in disease severity compared with placebo.
Vitiligo is a chronic autoimmune disorder where the immune system destroys melanocytes, the pigment-producing cells responsible for skin color, resulting in distinct white patches on the skin, hair, or mucous membranes.
The Simply Good Foods Company (NASDAQ:SMPL) shares rose nearly 5% after the company reported third quarter fiscal 2026 results that exceeded Wall Street expectations for adjusted earnings and revenue.
The company posted adjusted diluted earnings per share of $0.42, beating analyst estimates of $0.35, while quarterly net sales came in at $357 million, ahead of consensus expectations of about $333 million.
G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF, FRA:W97) reported preliminary second quarter production results from its wholly owned Tocantinzinho gold mine in Brazil, with gold output rising 16% from the previous quarter as the company said it remains on track to meet its full-year production target.
The company produced 36,845 ounces of gold during the three months ended June 30, up from the first quarter. Gold sales totaled 37,439 ounces during the period. Year to date, G Mining Ventures has produced 68,691 ounces of gold and sold 71,215 ounces.
Varon Corp (OTCID:OZSC)'s joint venture Ballislife has added NBA player Coby White as a brand ambassador and equity partner for Ballislife Drink, expanding its roster of NBA athlete partners.
Ballislife Drink said its athlete partnerships are structured as equity arrangements rather than traditional endorsement agreements, with the aim of aligning players' long-term interests with the brand's growth.
Micron Technology Inc (NASDAQ:MU) shares rose 7% on Thursday after the company announced plans to invest up to $3 billion to strengthen the U.S. semiconductor supply chain and support future manufacturing capacity.
The investment includes $500 million in strategic financing support for GlobalWafers to advance development of its GlobalWafers America 300mm raw silicon wafer manufacturing facility in Sherman, Texas.
PepsiCo Inc (NASDAQ:PEP, XETRA:PEP) shares fell about 4% on Thursday after the food and beverage company reported fiscal second-quarter adjusted earnings that came in slightly below Wall Street expectations, despite revenue topping estimates and the company reaffirming its full-year outlook.
PepsiCo reported adjusted earnings per share of $2.20, compared with analysts' consensus estimate of $2.21.
Punters on Polymarket are wagering on what it will cost to rent Nvidia's H100 chip by the end of July, and the market says more about the AI economy than almost any equity index.
Traders currently assign a 43% probability that the benchmark rental rate lands between $2.30 and $2.60 per hour, with a 26% chance of $2.60 to $2.90.
Mining stocks dominated the FTSE 350 risers on Thursday as stronger metals prices boosted sentiment across the sector.
Precious metals miners led the way, with Pan African Resources PLC (LSE:PAF, OTCQX:PAFRY) rising 4.7%,followed by Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF), which gained 3.9%, while Atalaya Mining Copper (LSE:ATYM, TSX:AYM), Endeavour Mining PLC (LSE:EDV, OTCQX:EDVMF) and Fresnillo PLC (LSE:FRES) all up over 2%.
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares fell 9.55% in early trading, wiping £19 billion from the company's valuation, after its Wainua drug failed a closely watched Phase III trial in a form of heart disease.
The drop propelled the stock to the top of the FTSE 100 losers' list.