Texas Instruments Incorporated (NASDAQ: TXN) is out with guidance in its second quarter business update. While the results are said to be “narrowed” they are narrowed equally between the high-end and low-end of the ranges offered up after earnings back in April. This should be considered a reaffirmed guidance rather than anything ominous if you have been tracking the woes of Europe and the woes of key customer Nokia Corporation (NYSE: NOK).
TI now expects its financial results to be within $3.28 billion to $3.42 billion in sales, versus a prior range of $3.22 billion to $3.48 billion. Earnings are now being put in a range of $0.32 to $0.36 per share, versus a prior range of $0.30 to $0.38 per share.
We are actually seeing a positive reaction today in the after-hours that is helping the chip-maker to regain some of Monday’s losses. Shares closed down 3% at $27.65 and the stock has regained close to half of those losses as the stock is trading up 1.45% at $28.05 in the after-hours session.
JON C. OGG