Stocks to Watch: on Semiconductor, Apple, Zalando

Dow Jones06-26 21:46

ON Semiconductor $(ON)$: The chip maker agreed to acquire Synaptics $(SYNA)$ in a roughly $7 billion all-stock transaction, as it seeks to push into physical AI. Shares of ON Semiconductor tumbled 19%, while Synaptics' stock fell 2%.

Micron Technology $(MU)$, Sandisk $(SNDK)$, Seagate Technology $(STX)$: Chip stocks and memory makers lost ground, putting them on track to give up gains made yesterday after Micron reported blockbuster quarterly results.

Apple $(AAPL)$: Shares of the iPhone maker ticked higher. The stock slid more than 6% yesterday after the company raised the prices of its Macs and iPads.

Zalando (XE:ZAL): Shares in the online fashion retailer slumped more than 4% after Germany's financial regulator said it launched an audit of the company's financial statements, alleging that a transaction related to its acquisition of About You might have been omitted.

Wendy's $(WEN)$: Shares of the fast-food chain rose 9% in early trading, recovering some of Thursday's losses. Earlier this week, the stock soared amid a burst of interest from retail traders online.

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