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Texas Instruments Guidance Solid, But Not Like Intel (TXN, INTC)
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Texas Instruments (NYSE:TXN) released its mid-quarter update today with a tighter range and here are the updates:
Back in JULY with earnings, it gave the following guidance:
This also follows yesterday’s analyst downgrade note on Qualcomm (NASDAQ:QCOM) out of American Technology Research that said Texas Instruments would be winning Motorola (NYSE:MOT) business away from Qualcomm in the second half of 2008.
Shares have traded as low as $28.24 and as high as $39.63 over the last 52-week. Shares closed up 1.4% at $35.72 in normal trading today, and that follows an $0.08 decline on Monday. So far it appears traders wanted more now that Intel (NASDAQ:INTC) raised its guidance yesterday. Shares are initially down 1% in after-hours at $35.36.
In school terms this would be a PASS, but not with honors.
Jon C. Ogg
September 11, 2007
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