RealTime IT News

Texas Instruments Hikes Guidance

Texas Instruments raised guidance after the close on Monday, welcome news for the chip sector following Intel's warning last week.

TI said it sees first-quarter revenues of $2.84-$2.95 billion, compared to $2.85 billion estimates, and the company's earnings guidance of 19-22 cents a share would beat analysts' estimates of 19 cents a share.

Cymer and TriQuint also raised guidance after the close, but Hutchinson warned. Digital Lightwave announced a deal with Telecom Italia.

Stocks fell during the day, as the steady drumbeat of disappointing economic reports finally caught up with the market.

The Nasdaq fell 38 to 2088, the S&P 500 lost 9 to 1147, and the Dow dropped 66 to 10,529. Volume declined to 1.26 billion shares on the NYSE, but rose to 2.06 billion on the Nasdaq. Decliners led 19-13 on the NYSE, and 21-10 on the Nasdaq. Downside volume was 69% on the NYSE, and 76% on the Nasdaq. New highs-new lows were 374-5 on the NYSE, and 210-5 on the Nasdaq.

Digital Think soared 20% on a deal with Microsoft , but finished well off its highs for the day.

Corvis gained 6% on an acquisition.

Veritas climbed 2% on positive analyst comments.

Chinese Internet stocks Sina.com , Sohu and Netease fell on a New York Times article that called the sector a "bubble."

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