ON Semiconductor Corporation

Onsemi announced a new agreement to acquire Synaptics for $123 a share in cash, revising the all-stock deal disclosed in June after an unsolicited competing proposal. Advanced Micro Devices said it would acquire World Labs, an AI model and research lab, in an all-stock transaction valued at nearly $8.2 billion. Hormel Foods agreed to acquire Brakebush Brothers, a value-added chicken provider, from the Brakebush family for approximately $1.055B, with the deal expected to close in the first quarter of fiscal 2027. Lynas Rare Earths agreed to acquire Australian peer Meteoric Resources in an all-stock deal valued at A$968M, or $672M. Mattel soared 19% after a report that the toymaker has recently received takeover interest from Authentic Brands, while Walgreens private-equity owner Sycamore is near a deal to sell the U.K. pharmacy chain Boots for close to $9 billion, including debt.

Tesla shares rose 5% after the electric vehicle maker reported third-quarter deliveries of 486,532 vehicles, above the 461,100 units expected by analysts polled by FactSet. Broadcom rose more than 3% after Reuters reported it agreed to lend Anthropic up to $42 billion to finance infrastructure purchases, with investment banks seeking to raise $42 billion of Class A senior secured debt and $18 billion in Class B debt, according to Bloomberg. Nike fell almost 6% after its fiscal first-quarter revenue missed analyst expectations, with a 4% slide in sales tied to declines in China and plans to lay off staff in 2027. Synaptics surged 14% and ON Semiconductor rose more than 5% after ON Semi revised its buyout offer for Synaptics to $123 a share, or $5.7 billion. Seagate and Western Digital each tumbled 13% following a Nikkei report that Japan's Toshiba will double its hard disk drive production capacity for data centers and invest $380 million to expand facilities in the Philippines.

Nike shares fell more than 10% in premarket trading after the company missed revenue expectations against LSEG consensus for its fiscal first quarter, reporting sales down 4% on declines in its China business and announcing plans to lay off staff in 2027. Synaptics shares jumped over 14% and ON Semiconductor shares rose more than 7% following reports that ON Semiconductor will acquire Synaptics for $123 per share in cash, a transaction now valued at $5.7 billion, down from the prior agreement of $7 billion. Nexalin Technology shares dropped over 18% premarket after the medical device company announced a 10-year distribution and manufacturing deal with Inovanexa Medical Technologies on Thursday, clearing its Nexalin Sync neurostimulation device for distribution across seven South American countries. Vylor shares gained slightly after the seeds and genetics company was added to the S&P 500 on Thursday, following its spinoff from Corteva, which will move to the S&P MidCap 400. Seagate Technology and Western Digital shares fell over 11% and 8% respectively after a Nikkei report that Toshiba will double its production capacity for data-center hard disk drives and invest $380 million to expand facilities in the Philippines.

Nike tumbled 9.6% in premarket trading to $31.79 after the athletic footwear and apparel giant reported mixed fiscal first-quarter 2027 results and issued a weaker-than-expected full-year outlook. Nike reported adjusted earnings of 48 cents per share, topping the 44-cent consensus estimate, but revenue of $11.21 billion missed expectations of $11.35 billion and declined 5% on a currency-neutral basis from a year earlier. Synaptics surged 13.8% in premarket trading after onsemi and Synaptics amended their merger agreement, converting the transaction from an all-stock deal into an all-cash acquisition at $123 per share, valuing Synaptics at about $5.7 billion. The change followed an unsolicited, non-binding proposal from an unnamed strategic party received by Synaptics on Sept. 2, prompting the two companies to renegotiate the deal structure and consideration. Moderna rose 2.2% in premarket trading to $193.15 after Nasdaq confirmed the biotechnology company will be added to the Nasdaq-100 Index effective Oct. 9, replacing Warner Bros. Discovery, while Fair Isaac fell 6.9% after Bloomberg reported the Federal Housing Finance Agency plans to require lenders to use credit data from only two of the three major credit bureaus for mortgages sold to Fannie Mae and Freddie Mac.

ON Semiconductor agreed to acquire Synaptics for $123 per share in cash, or approximately $5.7B, replacing the all-stock deal announced in June that was valued at about $7B. The revised transaction, which follows an unsolicited competing proposal, is expected to be immediately accretive to Onsemi's non-GAAP EPS and will be funded with cash on hand and committed debt financing from Morgan Stanley, with closing still expected by mid-2027; Synaptics' board unanimously approved the amended agreement. Synaptics shares rose 14% and Onsemi shares gained 6% on the news. ChronoScale Holdings climbed 6% after announcing an expansion with an existing AI infrastructure customer and a separate agreement with a new customer, bringing its contracted business to support a $1B annualized revenue run rate by Q3 2027, though the company cautioned the target depends on timely infrastructure deployment, power and equipment availability, and access to capital. Nike shares plunged 9% after reporting mixed FQ1 results, with revenue declining 4% Y/Y to $11B and a weaker-than-expected FY2027 outlook; Greater China sales plunged 22% Y/Y to $1.2B, Converse revenue fell 28%, Nike Direct declined 8%, and wholesale sales slipped 1%. Nike expects FY2027 revenue to decline by a high-single-digit percentage and adjusted EPS of $1.15-$1.35, excluding about $0.15 in restructuring costs, below the $1.67 consensus, with its PACE initiative targeting approximately $2.5B in savings through FY2031, including $1B in employee-related costs.

BofA semiconductor analyst Vivek Arya raised his estimate for the AI data center systems addressable market to $2.2 trillion at a 40% annual pace for CY26-30, up from a prior $1.8 trillion at 33%. Arya said the virtuous flywheel of agentic tool adoption by consumers and enterprises, competition between public and private AI labs, and limited chip supply will likely keep AI spending robust for the next several years, adding that any pacing or addition of safety guardrails to frontier models is likely to increase rather than reduce compute requirements. He named Nvidia, Intel, Micron, Marvell and Lam Research as top picks with near-term catalysts, citing enhanced buybacks and multiple GTC tradeshow events for Nvidia, agentic CPU strength and foundry win anticipation for Intel, the start of buybacks from December 9 for Micron, an Analyst Day on October 6 and an XPU ramp for Marvell, and share gain potential across memory and logic for Lam Research. Arya said he also continues to like AMD, Applied Materials, Analog Devices and On Semiconductor, and is staying watchful on Broadcom, which he rates Buy on compelling valuation with potential for enhanced buybacks when the company reports fiscal fourth-quarter results in December. He noted that the SOX is trading at a 21x forward PE, 12% below its 24x median multiple since the onset of ChatGPT and well below 40%-plus projected EPS growth potential, and that the fourth and first calendar quarters have historically been the two best seasonal quarters to own chip stocks, with 300-500 basis points of median outperformance versus the S&P 500 from 2010 to 2025.

Penguin Solutions and onsemi shares surged in the afternoon session as investors extended a multi-day rally driven by rising compute demand for agentic artificial intelligence following the rollout of Meta Platforms' Muse agent. Meta wrote on its research blog that each Muse agent operates inside a dedicated cloud virtual machine with persistent central processing unit and memory resources to manage operating systems, compile code, and coordinate subagents, expanding infrastructure demand beyond graphics accelerators to general-purpose server processors. Intel Chief Executive Lip-Bu Tan said the company can currently meet only about 50% of customer demand, according to Barron's, while Bank of America raised its AMD price target to $720 from $620, projecting agentic workloads will broaden compute needs across server processors. Separately, President Donald Trump announced a productive summit with Chinese President Xi Jinping, with high-level talks spotlighting artificial intelligence, according to Bloomberg. Processors and Graphics Chips company Penguin Solutions jumped 5.3%, and Analog Semiconductors company onsemi jumped 5.9%.

Seaport Research Partners initiated coverage on Marvell Technology with a Buy rating and a $270 price target, citing AI data-center demand for its custom silicon and interconnect businesses. Seaport said Marvell's optical connection technologies are used in accelerator platforms including those from Nvidia, giving the company access to ongoing data center expansion. The firm projected a current quarter non-GAAP gross margin of 58.25% to 59.25%, compared with 59.4% a year ago, and expects operating leverage to come mostly from managing operating expenses rather than meaningful gross-margin expansion. Seaport also started coverage on Semtech with a $200 target, saying its increasing focus on data-center optical devices should drive AI-related demand in 2027 and 2028. On Semiconductor received a $100 objective based on growing industrial and automotive demand with an expected 800-volt data-center build-out, and Seaport also liked ON's planned acquisition for Synaptics.

Taiwan Semiconductor Manufacturing Company, or TSMC, is seeing strong customer interest in its next-generation A14 process technology well ahead of volume production, with customer tape-outs already underway and running ahead of schedule, management said during the second-quarter 2026 earnings call. A14 is TSMC's second-generation nanosheet transistor technology, designed to deliver 10% to 15% higher performance at the same power or 25% to 30% lower power at the same speed compared with the 2-Nanometer technology, along with nearly 20% higher chip density. TSMC said an internal product-like vehicle has demonstrated close to 90% device performance, while a 256-megabit SRAM achieved nearly 90% yield, and the company expects A14 to enter pre-production in 2027 followed by volume production in 2028. TSMC also introduced A13 and A12 as extensions of the A14 family, with A13 designed to achieve more than 6% die area savings through a 97% optical shrink and A12 expected to bring superpower rail technology to the A14 platform, both slated for volume production in 2029. Separately, Micron announced a successful demonstration of the world's first 512GB DDR5 module on multiple server platforms, with AMD and Intel actively validating the module, and ON Semiconductor unveiled its Embedded Power Platform, a scalable architecture that uses the silicon wafer itself as the foundation of the package.

Valens Semiconductor announced a collaboration with onsemi to develop a cost-optimized integrated sensor for high-volume 3-megapixel automotive camera applications, based on the MIPI A-PHY standard. Under the agreement, Valens will work with onsemi on the cost-optimized A-PHY offering that can be integrated into onsemi's image sensors, giving OEMs and Tier 1s a faster path to A-PHY. Valens CEO Yoram Salinger called the move a major milestone for the company, for MIPI A-PHY and for the automotive ecosystem as a whole, noting the integrated 3MP offering complements Valens' existing solutions and brings A-PHY to a much broader range of use cases. Ahmed Salem, Vice President and General Manager of the Intelligent Sensing Group at onsemi, said customer interest makes clear that MIPI A-PHY represents a significant business opportunity and that the collaboration helps enable a more streamlined camera architecture that reduces component count. The majority of automotive image sensors target the 1-3MP range, and as OEMs migrate toward higher resolutions, a 3MP offering addresses both a large established market and a growing upgrade opportunity. MIPI A-PHY is the first standard in the automotive industry for high-speed sensor connectivity, and Valens says it offers the first chipsets on the market to comply with the standard and the first to achieve design wins with multiple OEMs.

Subaru has entered a strategic collaboration with onsemi to evaluate its Embedded Power Platform, a step toward integrating next-generation power architectures into future electric vehicles. Under the partnership, Subaru gains early access to engineering samples and technical expertise as it assesses whether onsemi's power semiconductor integration can deliver scalable, efficient solutions for vehicle electrification. The two companies said the work will explore how a more integrated power system design can improve vehicle performance, efficiency and design flexibility as automakers expand their electrified lineups. The collaboration was announced by onsemi on GlobeNewswire.

onsemi unveiled its Embedded Power Platform, a wafer-level power solution that integrates silicon, silicon carbide and gallium nitride dies to deliver higher power density and system-level co-optimization for AI infrastructure and electrified vehicles, with sampling planned to begin in 2026. The company also announced a technology engagement giving Subaru early access to the platform, a move that highlights how closer co-design around compact, efficient power electronics could influence future electrified vehicle architectures and development timelines. The platform fits onsemi's push to move more of its portfolio into higher-margin, system-level power solutions, coming after Q2 2026 results showed a return to profitability following a large one-off loss, with management guiding Q3 revenue to US$1,650 million to US$1,750 million. The company's narrative projects $9.0 billion in revenue and $2.5 billion in earnings by 2029, requiring 13.0% yearly revenue growth and about a $1.9 billion earnings increase from $630.2 million today. Near-term risks remain, including underutilized fabs and dependence on a still cyclical auto market.

Bank of America forecasts the global semiconductor market will nearly double to $3.2 trillion by 2030 from $1.7 trillion in 2026, citing AI infrastructure, memory and data-center demand that remains far stronger than recent fears suggest. Analysts led by Vivek Arya wrote that despite rising concerns about a potential AI infrastructure and investment slowdown, they see no signs of slowing in customer orders, long-term agreements, capacity commitments or semiconductor pricing. The bank pointed to Nvidia B200 rental pricing at $5.72 per hour, up consistently over the past two months and less than 10% below its March peak of roughly $6.10, while AMD has also indicated it is not seeing weakening customer orders. Within the total, memory is expected to remain the biggest growth engine, with sales rising to $1.8 trillion by 2030 from $937 billion in 2026, core semiconductors projected to increase to $1.35 trillion from $739 billion, server-related sales jumping to $848 billion from $359 billion, and wafer-fabrication-equipment spending more than doubling to $359.8 billion from $155.9 billion. BofA sees Nvidia and AMD as resilient compute plays, Marvell in networking, and Analog Devices and onsemi in analog, while Micron, Lam Research, Applied Materials and Intel could also outperform if sector momentum improves; the key risk is whether hyperscalers eventually slow AI capital spending.

onsemi outlined a long-term growth strategy aimed at capturing a $213 billion total addressable market by 2030 across automotive, industrial, AI data center and emerging applications. The Scottsdale, Arizona-based chipmaker said power density has become the defining engineering constraint as AI, electrification and automation scale, and that it will leverage its power and sensing portfolio to address it. President and CEO Hassane El-Khoury said the company has spent years building expertise across power and sensing to help customers deliver more energy while consuming less space. onsemi highlighted three technology platforms it expects to drive growth: high-voltage technologies spanning silicon, silicon carbide and gallium nitride, including a differentiated vertical gallium nitride offering exclusive to the company; the Treo platform for high-precision analog, high-density digital and high-voltage intelligence; and the Embedded Power Platform, which uses the silicon wafer itself as the package to integrate silicon, SiC and GaN devices in a single wafer-level architecture. The company said the convergence of its end markets around common technology requirements allows it to deploy shared platforms across multiple applications and grow faster than the markets it serves.

Texas Instruments' data center revenues doubled year over year in the second quarter of 2026 and rose about 20% sequentially, making data center one of the company's three strongest growth markets alongside industrial and automotive. CEO Haviv Ilan said on the earnings call that the company expects to outgrow the data center market in 2026, supported by research and development investments and its ability to supply customers, and management said it has clean-room capacity available and plans to equip facilities as needed. The industry's move toward 800-volt architectures, which can require several power-conversion stages, is expected to increase the analog and embedded content used in data centers. Rival Analog Devices posted third-quarter fiscal 2026 revenues of $4.02 billion, up 40% year over year, with communications revenues surging 84% on data center demand, while ON Semiconductor said its AI data center revenues grew more than 30% sequentially and more than doubled year over year in the second quarter of 2026 as total revenues rose 9.2% to $1.6 billion. ON Semiconductor management now expects 2026 revenues to more than double year over year and AI data center SiC revenues to grow nearly 60% in 2026. Texas Instruments shares have rallied 51.9% year to date, and the Zacks Consensus Estimate implies 2026 and 2027 earnings increases of 55.1% and 16.8%, respectively.

Texas Instruments has started implementing price increases, negotiated directly with customers, after keeping prices broadly stable through the first half of 2026, with the contribution expected to begin in the third quarter and continue into the fourth quarter and beyond. Management said on its second-quarter 2026 earnings call that only a small pricing contribution is expected to third-quarter growth, with most of the sequential revenue increase coming from higher unit volumes. Texas Instruments entered the cycle from strength, with second-quarter revenues up 23% year over year to $5.46 billion, operating profit up 47.8% to $2.31 billion and analog revenues up 26%. Rival Analog Devices raised global prices by an average of 15% in February 2026, a move expected to add about 50 basis points of sequential revenue growth in both its fiscal third and fourth quarters, after fiscal third-quarter revenues rose 40% year over year to $4.02 billion and adjusted gross margin expanded 330 basis points to 72.5%. ON Semiconductor raised prices on selected components in April 2026, focusing on power, industrial and data center segments, after second-quarter 2026 revenues rose 9.2% year over year to $1.604 billion and non-GAAP gross margin expanded 170 basis points year over year and 80 basis points sequentially to 39.3%.

Synaptics has agreed to be acquired by On Semi in an all-stocks deal worth $7 billion, as disclosed in the FPA Queens Road Small Cap Value Fund's second-quarter 2026 investor letter. The fund highlighted Synaptics as a key holding, noting its development of Astra, an integrated sensing, processing, and communication solution for IoT and edge AI, which was validated by a collaboration with Google Labs in 2025. Synaptics shares closed at approximately $95.08 on August 31, 2026, giving it a market capitalization of about $3.78 billion. The fund also reported a 27.02% return for the first half of 2026, outperforming its benchmark indices, and trimmed appreciated technology holdings during the AI-driven rally.

Wolfspeed, STMicroelectronics, and ON Semiconductor rallied Monday after Mizuho flagged a faster NVIDIA Vera Rubin ramp anchored by xAI and Meta starting in the fourth quarter of 2026. Wolfspeed rose 5.74% to $33.61, STMicroelectronics gained 4.17% to $56.56, and ON Semiconductor added 2.96% to $85.11. Mizuho expects strong VR200 NVL72 ramps in 2027, with 2027 CoWoS growing more than 75% and cloud service provider backlog now at $2.3 trillion, up 3.5 times year over year. ON Semiconductor says power content per rack rises from $15,000 to $115,000 under 800-volt DC architecture, with AI data center revenue expected to more than double in 2026. The next checkpoints are ON Semiconductor's Analyst Day on September 16, 2026, and NVIDIA's next quarterly update.

ON Semiconductor reported second-quarter revenue of $1.6 billion, a 6% sequential increase driven by accelerated demand in AI data centers, with non-GAAP gross margin expanding 80 basis points to 39.3% and non-GAAP earnings per share rising 16% to $0.74. The company now expects AI data center revenue to more than double in 2026, supported by design wins in the Nvidia MGX ecosystem and Amazon’s AWS power supply platforms, while energy storage systems revenue is forecast to grow approximately 40% year over year. Automotive silicon carbide revenue in China is projected to increase between 60% and 70% in 2026, reflecting market share gains with customers such as Geely Zeekr and Xiaomi. Free cash flow nearly quadrupled year over year to $425 million, and the company returned $332 million to shareholders through share repurchases. For the third quarter, ON Semiconductor guided revenue of $1.65 billion to $1.75 billion, non-GAAP gross margin of 40% to 42%, and non-GAAP earnings per share of $0.81 to $0.93.

U.S. stocks were mixed on Thursday as a rebound in chipmakers and stronger-than-expected economic data helped offset a sell-off in software shares following disappointing earnings. The S&P 500 edged up 0.07%, the Dow fell 0.38%, and the Nasdaq 100 added 0.26%. Datadog tumbled over 14% after reporting second-quarter adjusted gross margin below consensus, dragging down other software names including Salesforce, Atlassian, and Workday. AppLovin sank 19% on a revenue miss, while memory chipmakers Western Digital and SanDisk fell sharply after SanDisk forecast first-quarter revenue of $10.30 billion to $10.80 billion, below the $11.16 billion consensus. Limiting losses, ARM Holdings rose more than 5% and ASML, ON Semiconductor, and Marvel Technology gained over 2%, while Paycom Software surged 22% after raising its full-year revenue outlook to $2.20 billion to $2.21 billion, above estimates. Weekly jobless claims rose by 1,000 to 199,000, better than the 205,000 expected, and second-quarter nonfarm productivity increased 1.4%, exceeding the 0.6% forecast. A Financial Times report that Fed Chair Warsh is willing to raise rates in September if inflation firms weighed on sentiment, while crude oil rose over 1% after Yemen's Houthi rebels said they targeted a Saudi oil tanker in the Gulf of Aden.

ON Semiconductor stock rose about 2% on Tuesday after its second-quarter results and outlook drew favorable analyst views, with artificial-intelligence data centers emerging as an important source of demand. Jefferies maintained its Buy rating and $115 price target, noting AI data-center growth could outpace other analog markets. Susquehanna kept a Positive rating with a $150 target, citing progress in customer activity and lead times increasing by about five weeks on average. Morgan Stanley said the June quarter was broadly in line and the September outlook slightly ahead of expectations, with AI data-center demand remaining a key contributor.

ON Semiconductor reported second-quarter net income of $226.8 million, up from $170.3 million a year earlier, driven by accelerating demand from AI data center customers. Adjusted earnings reached $0.74 per share, surpassing the $0.71 consensus estimate from FactSet-polled analysts, while revenue rose 9% to $1.6 billion, slightly above the $1.59 billion projection. The company's Power Solutions Group led growth with a 19% revenue increase to $829 million, and free cash flow quadrupled to $425.4 million. Looking ahead, ON Semiconductor guided for third-quarter revenue between $1.65 billion and $1.75 billion and adjusted earnings of $0.81 to $0.93 per share, bracketing the FactSet consensus of $0.83 per share on $1.67 billion in revenue.

Several major companies saw significant premarket stock moves following their latest quarterly earnings reports. McDonald's gained 1.9% after posting adjusted earnings of $3.38 per share, beating the LSEG consensus of $3.32, though revenue of $7.1 billion missed the expected $7.13 billion. Caterpillar climbed 8% after reporting adjusted earnings of $8.17 per share on revenue of $20.54 billion, both exceeding analyst expectations of $6.20 per share and $19.34 billion. Palantir Technologies surged 15% on second-quarter results driven by a nearly 150% jump in U.S. commercial revenue. Merck rose more than 1% after losing an adjusted 13 cents per share on revenue of $16.61 billion, better than the anticipated loss of 27 cents per share on $16.36 billion, and raised its full-year revenue guidance. Pfizer gained after beating estimates with adjusted earnings of 77 cents per share on revenue of $15.03 billion and increasing the low end of its full-year revenue outlook. On Semiconductor jumped 7% on better-than-expected second-quarter results and margins. Snap rose 5% after revenue of $1.6 billion topped the $1.54 billion estimate, with global daily active users and average revenue per user also exceeding expectations. Whirlpool was little changed after a larger-than-expected adjusted loss of 21 cents per share and a lowered full-year earnings forecast. Wayfair fell 4% despite beating estimates with earnings of 95 cents per share on revenue of $3.52 billion. DigitalOcean plunged 11% even though second-quarter earnings of 45 cents per share on revenue of $281 million surpassed analyst expectations.

Palantir Technologies, Snap, and ON Semiconductor were among the biggest stock gainers on Tuesday, while Powell Industries led the losers. Palantir shares surged 15% after crushing second-quarter results and raising its full-year outlook, with revenue jumping 93% year-over-year to $1.94 billion and its fiscal 2026 revenue forecast lifted to $8.15 billion to $8.16 billion. Snap gained 9% on better-than-expected second-quarter earnings, 19% revenue growth to $1.6 billion, and daily active users reaching 493 million. ON Semiconductor climbed 7% after issuing stronger-than-expected third-quarter guidance, forecasting revenue of $1.65 billion to $1.75 billion and adjusted earnings per share of $0.81 to $0.93. Powell Industries fell 14% despite a 158% surge in new orders to $934 million, as its quarterly revenue of $312 million and earnings per share of $1.42 missed estimates.

Onsemi expects its AI data center revenue to more than double in 2026, as the company guided third-quarter earnings per share to a range of $0.81 to $0.93. The chipmaker reported second-quarter revenue of $1.6 billion, with non-GAAP gross margin of 39.3% and non-GAAP diluted earnings per share of $0.74, all above the midpoint of its guidance. Management noted that supply is tightening in several growth areas, lead times are extending, and the company prioritized AI data center shipments over automotive and industrial segments in the quarter. Onsemi also announced an agreement to acquire Synaptics, with the transaction expected to close in mid-2027, and is implementing a second round of price increases to offset rising input costs. Free cash flow nearly quadrupled in the quarter, reaching $425 million, and the company returned $332 million to shareholders through share repurchases.

US stocks extended their rally, with the Dow Jones Industrial Average closing up 693.38 points at 53,178.41 and the Nasdaq Composite up 540.05 points at 25,913.90. Investor sentiment improved after President Trump called off a planned large-scale attack on Iran over the weekend and announced a resumption of negotiations, sending stocks higher after the open. A rise in the ISM manufacturing index, lower oil prices, and falling interest rates also provided a tailwind, pushing the Dow to a new all-time high. By sector, media and entertainment as well as software and services gained, while energy declined. Among individual stocks, Bristol Myers Squibb rose on reports of merger talks with AstraZeneca, and Boeing advanced on certification of the 737 Max 10. AMC Entertainment and IMAX were bought up after setting new weekend box office records, but Marriott fell after its third-quarter outlook missed expectations. Palantir Technologies and ON Semiconductor were being bought in after-hours trading following their earnings releases.

A slate of major companies including Palantir Technologies, Vertex Pharmaceuticals, and Diamondback Energy are set to report quarterly earnings after the market closes on August 3, 2026. Palantir is expected to post earnings per share of $0.28, a 115.38% jump from the same quarter last year, while Vertex's consensus stands at $4.30, up 7.50%. Diamondback Energy's forecast of $6.08 per share represents a 127.72% surge, though it missed estimates in the fourth quarter of 2025. Other notable reports include ONEOK with a consensus of $1.39, ON Semiconductor at $0.72, and SBA Communications at $2.76, which would mark a 12.93% decline year-over-year. Sterling Infrastructure is projected to deliver $5.00 per share, a 96.08% increase, and Jazz Pharmaceuticals is expected to swing to $5.06 per share after a large miss in the prior-year quarter.