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Why ON Semiconductor's $7B Deal Tanked Shares 23.7% While MSFT Soared 5.7% — Market Wrap Jun 28, 2026
Today's AI insights from 7horns.ai reveal a turbulent market marked by a dramatic sector rotation and major M&A shock. The S&P 500 and Dow ended Friday nearly flat, with the Nasdaq down 0.24%, continuing its tech selloff trend that saw a 4.6% weekly decline. ON Semiconductor plunged 23.66% after announcing a $7 billion all-stock acquisition of Synaptics, sparking investor fears over dilution and wiping $11 billion off its market cap. In contrast, Microsoft surged 5.71% following a landmark 20-year, $7 billion natural gas deal with Chevron to power its AI data centers, boosting software sector…
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