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Top Midday Decliners

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ON Semiconductor's (ON) shares sank nearly 24% amid heavy trading after the company said it will acquire Synaptics (SYNA) in an all-stock deal with an enterprise value of about $7 billion, expanding its edge AI capabilities, according to a joint statement late Thursday.

More than 25.5 million shares traded intraday compared with its daily average of around 11.7 million.

In a category of stocks with a market capitalization of over $200 billion, 17 out of the 20 worst-performing stocks were technology firms, according to data compiled by Finviz.

Western Digital (WDC) shares slumped 12%, with intraday trading volume climbing to 8.9 million from a daily average of roughly 8.1 million.

Seagate Technology (STX) was down 7.8% amid a decline in intraday trading volume to about 4.04 million versus a daily average of 4.14 million.

Price: $90.57, Change: $-28.17, Percent Change: -23.72%

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