Stocks move premarket as On Semiconductor buys Synaptics

U.S. stocks tied to technology, semiconductors, and energy were active in premarket trading Friday after a series of companyspecific developments and a broader tech selloff. On Semiconductor fell more than 15% after announcing an allstock deal to acquire Synaptics in a transaction valued at nearly $7 billion. Synaptics shares rose about 2.5%. The company said the acquisition would expand its addressable market by roughly $30 billion. Several memory and chip stocks were also lower. Micron, Sandisk, Seagate Technology, and Western Digital all declined, while Arm Holdings, Marvell Technology, AMD, Intel, and Broadcom also moved lower amid pressure across the semiconductor sector. Rocket Lab rose after NASA said it would use the company for launch services on two missions. Apple edged higher after a steep decline the previous day, and energy shares weakened as oil prices fell below $70 a barrel.