Investing
Texas Instruments Looking Less Conservative (TXN, BRCM, QCOM, MRVL)
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Texas Instruments Inc. (NYSE: TXN) has just given its second quarter update, one of the first seen by major chip companies. The chip giant sees $2.3 billion to $2.5 billion in revenues, above a prior range of $1.95 billion to $2.40 billion. The company also gave earnings guidance of $0.14 to $0.22, above its earlier range of $0.01 to $0.15 EPS. While many were hoping for good news, this boosted shares of the whole sector.
Shares closed up 0.46% at $19.77 in normal trading and shares are trading up at $20.35 after the news in the after-hours session. Its 52-week trading range is $13.38 to $32.47.
Broadcom Corp. (NASDAQ: BRCM) closed up 1.4% at $25.82, and shares are up another 1% at $26.08 in the after-hours session.
Marvell Technology Group Ltd. (NASDAQ: MRVL) closed down 1.4% at $11.21 today, and shares have not reacted. QUALCOMM Inc. (NASDAQ: QCOM) closed down 0.07% at $45.37 today, and its shares are flat in after-hours trading.
Jon C. Ogg
June 8, 2009
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