5 stocks to watch on Friday: X, SNPS, ANSS, AAPL and TMO

U.S. stock index futures on Friday tumbled, while oil prices spiked after Israel attacked Iran. Here are some stocks to watch on Friday:

• Shares of U. S. Steel (NYSE:X) were -4% in pre-market trading. The decline came amid yet more confusion over the American legacy steelmaker’s proposed deal with Japan’s Nippon Steel (OTCPK:NPSCY)(OTCPK:NISTF). U.S. President Donald Trump on Thursday said the U.S. government would retain a “golden share” in X after its purchase by Nippon. However, a Nikkei report quoted a Nippon executive saying that the acquisition would require “a degree of management freedom.”
• Synopsys (NASDAQ:SNPS) stock was -1.7% ahead of the opening bell, while Ansys (NASDAQ:ANSS) was -1.5%. A media report said that China’s State Administration for Market Regulation had delayed the approval of the companies’ $35B proposed merger. The deal has already been cleared in the U.S. and Europe. The sources cited in the media report said that the delay in China was due to the U.S. banning chip design software sales to China, and also because of the deal’s complexity.
• Shares of Apple (NASDAQ:AAPL) were in focus, +0.4% ahead of market open. Reuters reported that iPhones took the top spot in China in May in terms of sales, citing Counterpoint Research. Overall global sales of iPhones rose 15% Y/Y during April and May, marking the tech giant’s best performance for the two-month period since the COVID-19 pandemic. Apple (NASDAQ:AAPL) has continued to face pressure in China from cheaper competition, while tariffs have also been a headwind.
• Thermo Fisher Scientific (NYSE:TMO) stock was -3.2% in pre-market trading. The Financial Times reported that the company was looking to sell some of its lower-growth diagnostic assets for around $4B, citing three people familiar with the matter. The company’s advisers approached private equity firms in recent weeks to gauge interest in a possible deal. However, there is no guarantee that a deal will materialize. Thermo Fisher’s (NYSE:TMO) diagnostic business generates over $1B in annual sales.