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Technology Stocks : Axcelis Technologies, Inc. (ACLS) -- Ignore unavailable to you. Want to Upgrade?

To: HiSpeed who wrote (2)	7/10/2000 2:16:44 PM
From: Neil H	Respond to of 195

I'm in with shares from MSDW Axcelis Technologies is one of three profitable semiconductor-related companies to schedule IPOs this week. The IPO will coincide with Semicon West, the chip equipment industry's largest trade show, which will be held all week in San Jose and San Francisco. The IPOs also come at a time when the stocks of many chip companies and the firms that make the machines used to manufacture chips are riding high on Wall Street. "Demand is very high right now," Bard said. Beverly, Mass.-based Axcelis, which makes ion implantation equipment used in the fabrication of semiconductors, plans to raise $302 million through the sale of 15.5 million shares at a range of $20 to $22. Axcelis, a subsidiary of industrial equipment maker Eaton, posted a profit of $19 million on revenue of $143 in the first quarter. The company has applied to trade on the Nasdaq under the ticker "ACLS" and will have a market value of about $2 billion after the IPO. Goldman Sachs is the lead underwriter. "I really think that Axcelis is going to be the best offering in the coming week," Morningstar analyst George Nichols said. "They're highly profitable, and their sales growth is really rapid." Regards Neil