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Nike Worsening Sales; Broadcom-Anthropic Chips; Twilio to Join S&P
Description
Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
-Nike (NKE) shares continue their slide as it is cutting jobs and overhauling its business as results deteriorate, with a restructuring plan to save $2.5 billion over the next five years. The company expects a high-single-digit revenue decline this year, which is worse than the 2.4% drop projected by analysts, and shares of Nike fell as much as 9.7% in New York on Friday.
- Onsemi (ON) shares are rising after the chipmaker said it will buy Synaptics for $123 per share, revising their earlier all-stock deal to an all-cash transaction. Synaptics shares are up 13%.
-Broadcom (AVGO) shares are moving on news the company's Wall Street syndicate are starting to gather $60 billion of fresh AI chip financing to benefit Anthropic and other companies.
- Twilio (TWLO) shares are gaining in the premarket after S&P Dow Jones Indices noted that the stock will replace Warner Bros Discovery in the S&P 500 effective Oct. 6.
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