RealTime IT News

TI Comes Up Light

Texas Instruments late Monday reported quarterly earnings that met expectations, but the company's sales came in a little light.

TI's quarterly sales were down 7% year-over-year but up 7% sequentially to $3.42 billion, below $3.45 billion Thomson Financial estimates. Earnings of $610 million, or 42 cents a share, were in line with estimates, thanks to record margins at the chip giant that made up for the lower than expected sales.

The company's current quarter guidance of $3.5-$3.8 billion in sales also left room to disappoint Wall Street analysts, who are expecting $3.7 billion in revenues.

TI shares lost about 4% in late trading.

Stocks rose during the day on another merger Monday, led by two acquisitions from HP , scooping up Opsware and Neoware . Tellabs gained on reports of interest from Nokia Siemens.

Expedia fell after reducing its share buyback plans, and Netflix tumbled after cutting prices.

Gigabeam soared 73% on wireless orders.

The Nasdaq added 3 to 2690, the S&P 500 gained 7 to 1541, and the Dow rose 92 to 13,943. Volume declined to 3.1 billion shares on the NYSE, and 2.12 billion on the Nasdaq. Advancing issues led by a 16-15 margin on the NYSE, and 16-13 on the Nasdaq. Upside volume was 56% on the NYSE, and 56% on the Nasdaq. New highs-new lows were 183-168 on the NYSE, and 146-237 on the Nasdaq.