Losses balloon at this new firm

Article Excerpt

NCR VOYIX CORP. $13 is a hold. The company (New York symbol VYX; Manufacturing sector; Shares outstanding: 141.2 million; Market cap: $1.8 billion; No dividend paid; Takeover Target Rating: Medium; www.ncrvoyix.com) took its current form on October 16, 2023 when the old NCR Corp. (New York symbol NCR) split itself into two separate firms. Investors received one share of NCR Atleos (which makes ATMs) for every two NCR shares they held. The remaining firm changed its name to NCR Voyix. It specializes in cash registers, self-serve checkouts and kiosks for theatres and arenas. It also makes software that helps community banks and credit unions process electronic payments. In the quarter ended December 31, 2023, NCR Voyix’s revenue fell 0.3%, to $963 million from $966 million a year earlier. Lower sales of equipment offset strong demand for software. As a result of costs related to the spinoff and other unusual items, losses worsened to $2.25 a share from $0.15 (the company did not report adjusted results). NCR…