NASDAQ:ACLS

Axcelis Drops Even as Chip Stocks Surge: Street Focuses on Next Move
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Axcelis Drops Even as Chip Stocks Surge: Street Focuses on Next Move

Axcelis Technologies shares fell 2.9% to $150.98 late Friday, underperforming chip equipment peers as the iShares Semiconductor ETF was flat and Applied Materials and Lam Research gained. No new operating news was released, with recent filings limited to insider stock changes. Investors are watching for updates on memory-chip demand and the Veeco Instruments deal. Axcelis expects Q2 revenue near $205 million and non-GAAP EPS around 90 cents.
May 29, 2026

Stock Market Today

  • Universal Music Group Rejects Bill Ackman's $64.3 Billion Takeover Bid
    May 29, 2026, 4:36 PM EDT. Universal Music Group, the global entertainment leader, has officially rejected a $64.3 billion takeover offer from billionaire Bill Ackman's investment firm, Pershing Square. The company stated the bid significantly undervalues the business, citing concerns for shareholders, artists, and fans. Universal operates renowned labels such as EMI and Island Records, and iconic Abbey Road Studios. Pershing Square, which holds a stake in Universal, had aimed to list the company on the U.S. stock exchange and revitalize its share price, which Ackman claimed was suppressed due to unrelated financial issues. Bolloré Group, another major stakeholder, opposed the bid. Universal pledged improved financial transparency and reaffirmed confidence in CEO Sir Lucian Grainge's strategy to sustain growth amid industry challenges like royalty debates and AI-generated deepfake music.