Check out some of the companies that made the biggest moves at noon. Tesla — Elon Musk’s electric car maker rose 5% after reporting third-quarter deliveries that beat street expectations. Tesla delivered 486,532 vehicles in the last three months, compared to the 461,100 expected by analysts surveyed by FactSet. BROADCOM — The chipmaker’s stock rose more than 3% after Reuters reported that Broadcom agreed to loan Anthropic up to $42 billion to fund infrastructure purchases. The investment bank is looking to raise $42 billion in Class A senior secured notes and $18 billion in Class B notes, Bloomberg reports. This debt will allow Anthropic to buy or lease chips and other computing hardware. Nike — Shares fell about 6% after the athletic shoe and apparel maker’s first-quarter sales fell short of analysts’ expectations, according to LSEG data. Nike reported a 4% drop in sales, citing a decline in China. The company also announced plans to lay off employees in 2027. ON Semiconductor, Synaptics — After ON Semiconductor revised its takeover offer for Synaptics to $123 per share, or $5.7 billion, Synaptics’ stock price soared 14% and ON Semiconductor stock rose more than 5%. Nexalin Technology — Shares plunged 26% after the medical device company agreed to a 10-year sales and manufacturing agreement with Inovanexa Medical Technologies, replacing a previous letter of intent in February. Nexalin’s Sync neurostimulator has been approved for sale in seven South American countries. BYLER — Shares rose 2% after the seed and genetics company was named an S&P 500 company following its spinoff from Corteva on Thursday. Corteva is set to drop 3% and move into the S&P MidCap 400. Seagate Technology, Western Digital — Shares of Seagate and Western Digital fell 13% following a Nikkei report that Japan’s Toshiba will double its production capacity for hard disk drives used in data centers and invest $380 million to expand its facilities in the Philippines. Allegro Microsystems — Shares jumped 9% after RBC Capital Markets initiated research coverage with an Outperform rating and a price target of $50 per share, suggesting a 37% upside from Thursday’s closing price of $36. RBC estimates that Allegro, which designs and manufactures high-performance semiconductors and magnetic sensing semiconductors, will more than double its data center revenue by 2027. It is also expected that Allegro’s high-efficiency motor drivers will benefit from demand for power supplies and network switching equipment. Arxis — Shares of the aerospace parts design company rose 4% following an upgrade that outperformed RBC Capital. “As a leading supplier of components to the (aerospace and defense) and industrial markets, ARXS has significantly outperformed initial expectations since its IPO in 2026,” said analyst Ken Herbert. The bank’s new $60 price target suggests Arcsys could rise 26% from Thursday’s closing price. Onto Innovation — a supplier of inspection tools to the semiconductor industry, saw its stock price rise more than 5%. RBC initiated coverage with an Outperform rating and said the company’s advanced packaging business is on pace to grow 80% this year. RBC’s $400 price target represents an upside of about 27% from Thursday’s closing price. — With additional reporting by CNBC’s Ananya Chettiar, Davis Giangiulio, Paulina Ricos, Tobias Burns and Darla Mercado
