( ATYT) were among technology's winners Monday, jumping 17% after the graphics-chip maker agreed to be acquired by
Advanced Micro Devices
for about $5.4 billion in cash and stock.
Based on Friday's closing prices, the deal values ATI at $20.47 a share, a premium of 24%. ATI shareholders will receive $4.2 billion in cash and 57 million shares of AMD stock. AMD expects the deal to be slightly accretive to earnings during 2007 and "meaningfully accretive" to earnings during 2008. The acquisition is expected to close during the fourth quarter. Shares of ATI recently were trading up $2.94 to $19.50, while shares of AMD fell 91 cents, or 5%, to $17.35. Shares of
, ATI's main rival in the graphic-chip market, rose $1.60, or 9%, to $19.37.
vaulted 20% after the chipmaker posted better-than-expected second-quarter results. The company earned $10.1 million, or 18 cents a share, on revenue of $123.5 million. Excluding items, the company earned $21.3 million, or 37 cents a share. Analysts polled by Thomson First Call expected earnings of 33 cents a share, before items, on revenue of $118.7 million. A year earlier, the company posted adjusted earnings of $17.2 million, or 31 cents a share, on revenue of $107.2 million.
For the third quarter, Silicon Labs sees revenue of $122 million to $127 million. Analysts project revenue of $124.9 million. The company also announced a $100 million stock buyback plan. Shares were trading up $5.87 to $35.37.
jumped 12% after the company posted a big jump in second-quarter earnings. The company, which makes network test- and service-monitoring products for communications-service providers, earned $208,000, or a penny a share. Excluding stock-based compensation costs, the company earned $313,000, or 2 cents a share. During the year-earlier period, which did not includes a stock-options expense, the company earned $103,000, or a penny a share. On the top line, revenue increased to $5.7 million from $4.8 million last year.
Looking ahead, Radcom forecast third-quarter revenue of $6.7 million to $7.1 million. Shares were trading up 23 cents to $2.18.
rose 2% after Verizon Wireless, its joint venture with
, said it added 1.8 million new retail customers during the second quarter. The recent gains mark the eighth consecutive quarter in which Verizon Wireless has added more than 1.5 million customers. Of Verizon Wireless' 54.8 million overall customers, some 52.6 million are retail customers. Shares of Verizon Communications were trading up 59 cents to $32.46, while shares of Vodafone rose 63 cents, or 3%, to $21.25.
( BCGI), which more than doubled on Friday, tumbled 26% on Monday. On Friday the company agreed to pay Freedom Wireless $55.3 million to settle a patent infringement suit. The payout is much smaller than the $128 million that it was ordered to pay as part of a court ruling in 2005. Boston Communications had previous accrued $64.3 million in estimated losses related to the Freedom litigation. As a result, the company now expects to reverse a portion of the previous recorded loss, resulting in a gain to its operating income. Shares recently were down $1.05 to $2.96.
Other technology movers included
, up 17 cents to $24.04;
, up 45 cents to $17.60;
, up 73 cents to $20.64;
Sirius Satellite Radio
, up 3 cents to $3.93;
, unchanged at $15.12;
, up 50 cents to $17.96;
, up 6 cents to $3.89;
, up 26 cents to $60.98;
( MOT), up 90 cents to $21.30;
( LU), up 3 cents to $2.07; and
, up 6 cents to $2.14.