Crude Oil Falls 1.5%; ON Semiconductor Shares Plunge After Q2 Results

Company Performance - ON Semiconductor Corp. (ON) shares fell over 12% after reporting a fiscal Q2 2025 revenue decline of 15.36% year-on-year to $1.47 billion, slightly above the analyst consensus estimate of $1.45 billion [2] - The adjusted EPS for ON Semiconductor was 53 cents, aligning with analyst expectations [2] - For Q3, ON Semiconductor anticipates adjusted revenue between $1.465 billion and $1.565 billion, with adjusted EPS projected between 54 cents and 64 cents, compared to the consensus estimate of 58 cents [3] Market Movements - BT Brands, Inc. (BTBD) shares surged 103% to $3.3201 as the company explores strategic initiatives, including a potential merger [9] - Verb Technology Company, Inc. (VERB) saw a 171% increase to $25.78 following a $558 million private placement announcement [9] - CommScope Holding Company, Inc. (COMM) shares rose 91% to $14.88 after Amphenol announced plans to acquire CommScope for $10.5 billion [9] - Replimune Group, Inc. (REPL) shares dropped 26% to $5.59 after the FDA rejected its skin cancer treatment [9] - TG Therapeutics, Inc. (TGTX) shares fell 15% to $29.84 due to worse-than-expected Q2 EPS and sales [9] - Krystal Biotech, Inc. (KRYS) shares decreased 14% to $135.23 following the release of its Q2 financial results [9] Economic Indicators - U.S. new orders for manufactured goods declined by 4.8% in June, contrasting with a revised 8.3% gain in March [11]