This Day On The Street
Continue to site right-arrow
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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Radiant, Novellus: After-Hours Trading

Stocks in this article: RADS NVLS MCHP CLNE KLAC ISIL AA NCR

Wall Street had a bearish lean on Novellus ahead of the news with 10 of the 16 analysts covering the stock at hold (8) or underperform (2), although the median 12-month price target sits at $40.

The other bearer of bad news in the semiconductor space was Microchip Technology (MCHP), which substantially lowered its fiscal first-quarter outlook, citing "broad-based weakness" in its business.

The company said it now expects non-GAAP earnings of 53 to 55 cents a share and a sequential decline in revenue of about 1.5% for the June-ended quarter. Its previous forecast was for non-GAAP earnings of 58 to 62 cents a share and sequential sales growth of 1%-6%. The average analysts' view is for earnings of 60 cents a share on revenue of $393.5 million.

"We believe that our overall June quarter results reflect weak global market conditions which we believe will impact the broad-based semiconductor industry in the June or September quarter depending on the individual market exposures and revenue recognition practices of the companies," said Steve Sanghi, the company's president and CEO.

Microchip gave an initial forecast for a further sequential revenue decline in the low to middle single digits for the September quarter, and said it's taking steps to control expenses, although it doesn't expect to lay off any employees.

The stock was last down 7% to $34.85 on volume of 234,000, according to

A number of chip capital equipment makers and chip companies themselves saw their stocks dip in extended action on Monday, including KLA-Tencor (KLAC), off 3% to $41 on volume of 44,000; Lam Research (LCRX), down 2.5% to $43.76 on volume of around 75,000; Atmel (ATML), losing 2.7% to $13.50 on volume of 53,000; Intersil (ISIL), off 2.7% to $12.35 on volume of 54,000; and ON Semiconductor (ONNN), falling 3.3% to $9.79 on volume of 21,000.

Other stocks active in late trades included Clean Energy Fuels (CLNE), which got a lift of more than 8% on news that Chesapeake Energy (CHK) is investing $150 million in the company; and Alcoa (AA), which kicked off earnings reporting season in confusing style by delivering a solid beat on the top line but posting an in-line profit. Alcoa shares ticked 7 cents lower to $15.84 on volume of 2.4 million after the closing bell.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

>To submit a news tip, send an email to:

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.
2 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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