Stocks of several companies moved sharply in after-hours trading as corporate dealmaking and government contracts reshaped near-term expectations.
ON Semiconductor and Synaptics
ON Semiconductor announced a definitive agreement to buy Synaptics in an all-stock transaction valued at about $7 billion. The market reacted unevenly: ON shares slipped roughly 7% following the announcement, while Synaptics shares rose about 10%.
The deal terms set a fixed exchange ratio of 1.350 onsemi shares for each Synaptics share, a ratio that implies a 19% premium in the transaction. Company statements describe the combination as a move to integrate onsemi’s power and sensing product lines with Synaptics’ expertise in interface and connectivity technologies.
Rocket Lab Corporation
Rocket Lab shares climbed approximately 5% after NASA selected the company to perform three dedicated Electron rocket launches for two upcoming science missions. The contract schedules the launches for 2027 from New Zealand and includes two consecutive launches for the PolSIR atmospheric ice-cloud mission plus a separate launch for the TSIS-2 solar sensor mission.
The award underscores Rocket Lab’s role in providing rapid-turnaround launch services for small-satellite science payloads and adds three named missions to its upcoming launch manifest.
DLH Holdings
DLH Holdings’ stock jumped about 10% after the firm secured a prime position on a multi-award, U.S. Navy indefinite-delivery/indefinite-quantity (IDIQ) contract. The overall contract carries a combined ceiling of $250 million over five years. Under the arrangement, DLH will compete for task orders to deliver advanced logistics information technology, agile DevSecOps pipeline support, and systems modernization services.
The award was described as a significant catalyst for the federal IT services provider.