Morgan Stanley Initiates Vylor at Overweight With $85 Price Target

Nike shares fell 10% after missing revenue estimates and announcing layoffs. ON Semiconductor (ON) and Synaptics (SYNA) rose 7% and 14% respectively due to a $5.7B acquisition deal. Nexalin Technology (NXL) dropped 18% after a distribution deal. Vylor (VYLR) gained after being added to the S&P 500. Seagate (STX) and Western Digital (WDC) fell 11% and 8% on Toshiba's HDD expansion plans.

RBC initiated coverage of Vylor, Inc. with an Outperform rating and a $85 price target. The company completed the spin-off of Corteva, Inc. and was added to the FTSE All-World Index.

15 U.S. states and Guam sued Corteva on Oct. 1, alleging the company transferred valuable assets to its newly spun-off seed business, Vylor, while leaving behind potential PFAS liabilities worth billions. Corteva denies the claims, stating it never manufactured or sold PFAS products. The lawsuit was filed in Indiana state court.

Vylor (VYLR) and Twilio (TWLO) will join the S&P 500, replacing Corteva (CTVA) and Warner Bros. Discovery (WBD) respectively. VYLR and TWLO shares rose 3% and 1.2% after-hours. Changes take effect on October 6, with index funds expected to buy the added stocks. Corteva will move to the S&P MidCap 400.

Corteva, Inc. completed the spin-off of its seed and genetics business, Vylor, Inc., on October 1, 2026. The separation created two independent, publicly traded companies. Vylor's stock began trading on the NYSE under the symbol VYLR. The transaction was subject to regulatory approvals and is expected to be tax-free for Corteva shareholders.

Vylor has completed its spin-off from Corteva and began trading on the NYSE under the ticker VYLR. The company has a $19 billion technology pipeline, with plans to launch 12 platforms across corn, soybeans, and wheat. Vylor targets $11.2B-$11.9B in net sales and $3.3B-$3.7B in EBITDA by 2029, with Vylor One expected to generate over $500M in gross licensing income in 2027.