Texas Instruments Looking Less Conservative (TXN, BRCM, QCOM, MRVL)

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By Douglas A. McIntyre Updated Published
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DRAM ImageTexas 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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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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