This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Radiant, Novellus: After-Hours Trading

NEW YORK ( TheStreet) -- Shares of Radiant Systems (RADS) jumped in late trades on Monday after the Alpharetta, Ga.-based developer of retailing technology products agreed to be acquired by NCR Corp. (NCR - Get Report) for $1.2 billion in cash.

The deal, which has the approval of both companies' boards, is structured as a cash tender offer that values Radiant shares at $28 each, a premium of 30.5% to Monday 's closing price of $21.45, and 38.5% to the 50-day moving average of $20.21.

"Radiant Systems has delivered 15 percent compounded annual revenue growth over the last five years, along with impressive margin expansion as a result of the high customer demand for its expansive software offerings," said Bill Nuti, NCR's chairman and CEO, in a statement. "This acquisition will enable our companies to accelerate expansion through the powerful combination of each other's strengths and NCR's track record of driving transformational change."

Shares of Radiant were last quoted right at $28 with volume of around 460,000, according to Nasdaq.com. NCR's stock ticked up 2% to $19.50 but volume was less than 5,000.

Radiant Systems, which is primarily known for its point-of-sale hardware and software products, reported an adjusted profit of $9.5 million, or 23 cents a share, for its fiscal first quarter ended on March 31 with revenue of $87.1 million, up 10% year-over-year.

Novellus Systems

Shares of semiconductor capital equipment maker Novellus Systems (NVLS) fell in late trades after the company reported below-consensus revenue and said bookings fell by nearly 25% on a sequential basis.

The stock was last quoted at $33.85, down 5.4%, on volume of roughly 300,000, according to Nasdaq.com. Based on a regular session close at $35.77, the shares were up 11.3% so far in 2011 but they had tumbled 14.5% since hitting a 52-week high of $41.82 in early March.

Novellus posted a profit of $64.7 million, or 79 cents a share, for the three months ended June 25 with sales coming in at $350.2 million. The average estimate of analysts polled by Thomson Reuters was for a profit of 76 cents a share in the June period on revenue of $352.3 million.

Bookings totaled $311.6 million for the latest quarter, down 24.9% from a total of $415.1 million in the first quarter.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AA $12.96 0.04%
CLNE $5.36 3.50%
ISIL $14.28 -0.63%
MCHP $49.06 -1.70%
KLAC $58.88 -0.88%

Markets

DOW 17,897.54 -78.77 -0.44%
S&P 500 2,078.61 -7.63 -0.37%
NASDAQ 4,928.3130 -19.1280 -0.39%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs