Market Currents

• Tuesday, December 8, 2009

• 16:36 PM Texas Instruments (TXN) raises its EPS outlook for Q4, to $0.47-0.51 from $0.42-0.50, vs. $0.47. The company expects fourth-quarter revenue of $2.9B-3.02B vs. $2.93B. Shares -2.1% AH. (PR) Comment!

• Thursday, November 19, 2009

• 10:48 AM BofA Merrill downgrades eight chip stocks, noting inventory levels will soon overshoot demand, increasing the risk of a supply chain correction. Downgraded to Neutral: Intel (INTC -5.5%), LSI Logic (LSI -3.9%), Marvell Tech (MRVL -6.6%) and TI (TXN -3.6%). Cut to Underperform: Microchip Tech (MCHP -5.1%), Maxim Integrated (MXIM -5.3%), National Semi (NSM -6%) and Power Integrations (POWI -4.1%). Comment!

• Monday, October 19, 2009

• 16:33 PM Texas Instruments (TXN): Q3 EPS of $0.42 beats by $0.03. Revenue of $2.9B (-15%) vs. $2.8B. Sees Q4 EPS of $0.42-0.50 vs. $0.40. "Our balance sheet is strong and has allowed us to opportunistically make investments in Analog and Embedded Processing throughout this downturn that should provide returns for years to come." Shares -0.1% AH. (PR) Comment!
• 09:15 AM Stocks ready to open higher ahead of a week with little economic data, but a torrent of Q3 earnings reports, including Apple (AAPL) and Texas Instruments (TXN) tonight, and Caterpillar (CAT), Coca-Cola (KO), Pfizer (PFE) and Yahoo (YHOO) tomorrow (today's calendar). Benchmark S&P futures +0.4% to 1087. Comment!
• 00:10 AM Notable post-market earnings: AAPL, ATHR, BSX, JDAS, LNCR, PKG, STLD, TXN, UDR, VLTR, WERN, ZION Comment!

• Friday, October 2, 2009

• 14:51 PM Texas Instruments (TXN) says it can make up for declines in complex-chip products with up to 20% growth in "analog chips" - simpler circuits that convert touch or sound to electrical impulses and are used in such things as electric saws and hearing aids. The company introduces 800-1,000 new analog chips each year. Comment!

• Wednesday, September 9, 2009

• 16:43 PM Texas Instruments (TXN) raises guidance on Q3 EPS to $0.37-0.41, from $0.29-0.39, vs. a consensus of $0.35. The company also raises its revenue expectations to $2.73B-2.87B. Shares are up 1.8% AH. Comment!

• Monday, July 20, 2009

• 16:35 PM Texas Instruments (TXN): Q2 EPS of $0.20 beats by $0.02. Revenue of $2.5B (-27%) vs. $2.4B. Sees Q3 EPS of $0.29-0.39 vs. $0.27 and Q3 revenue of $2.5B-2.8B vs. $2.5B. Shares +0.4% AH. (PR) Comment!
• 00:10 AM Notable earnings after Monday's close: BSX, CNI, LM, MDRX, PKG, SY, TXN, WERN, ZION Comment!

• Wednesday, June 17, 2009

• 09:58 AM Texas Instruments (TXN) +2% early on after Merrill Lynch/BofA upgrades to Buy and adds shares to its U.S. 1 Focus list. Firm sees 2010 EPS of $1.40+ vs. Street consensus of $1.15, against the backdrop of even a modest cyclical recovery. Comment!

• Tuesday, June 9, 2009

• 09:11 AM Premarket gainers: MRNA +102%. FCEL +28%. SAY +18%. TXN +7%. CSUN +7%. VVUS +6%. SOL +6%. RFMD +6%. FRO +6%. ADCT +6%. TC + 6%. CSUN +5%. STP +5%. ETFC +5%.
  Losers: ZQK -15%. NAV -10%. ANPI -5%. Comment!

• Monday, June 8, 2009

• 17:01 PM Texas Instruments (TXN): Sees Q2 EPS of $0.14-0.22 vs. consenusus of $0.10 and prior $0.01-0.15. Sees revenue of $2.3-2.5B vs. consensus of $2.21B and prior $1.95-2.4B. (PR) Shares +4.4% AH. 1 Comment

• Monday, April 20, 2009

• 16:39 PM Texas Instruments (TXN): "Demand for our products has begun to stabilize after sharp drops in the past two quarters. Many customers have increased orders for TI products as they have begun to slow down their inventory reductions. However, we remain sensitive to continuing weakness in the global economy, and we have yet to see signs of a broad-based recovery in our business." (PR) Comment!
• 16:39 PM Texas Instruments (TXN): Q1 EPS of $0.01 beats by $0.04. Revenue of $2.09B (-36.2%) vs. $1.9B. Q2 guidance in line. Gross margin 38.6% vs. 39.3% consensus. Shares +3.2% AH. (PR) Comment!
• 15:44 PM Tech's leadership of the current rally will be tested this week, with a burst of big-name earnings including IBM (IBM), Apple (AAPL), Amazon.com (AMZN), Texas Instruments (TXN) and Microsoft (MSFT). Each, except MSFT, is up at least 16% YTD. 3 Comments
• 15:10 PM Notable earnings after Monday's close: BRO, BSX, BXS, CNI, IBM, PKG, SYK, TXN, ZION 1 Comment