Texas Instruments raised guidance after the close on Monday.
The news from TI is the latest boost for the wireless sector, coming on the heels of strong guidance from Qualcomm last week.
TI said it expects fourth quarter revenues of $2.64-2.77 billion, above $2.62 billion estimates, and earnings of 18-20 cents a share would come in at the top of the previous 14-19 cent range.
TXN stock rose 1% after hours on the news.
Also after the close, Akamai tumbled on disappointing guidance, and Earthlink
reaffirmed guidance.
The broad market surged during the day ahead of the Federal Reserve’s decision on interest rates due out Tuesday afternoon.
The Nasdaq climbed 11 to 1948, the S&P 500 rose 7 to 1069, and the Dow surged 102 to 9965. Volume declined to 1.19 billion shares on the NYSE, and 1.59 billion on the Nasdaq. Advancers led 21-10 on the NYSE, and 16-14 on the Nasdaq. Upside volume was 62% on the NYSE, and 53% on the Nasdaq. New highs-new lows were 339-5 on the NYSE, and 149-16 on the Nasdaq.
Cable and Wireless rose 5% on plans to exit the U.S. market.
Advanced Fibre lost 2% on reports that it may lose an SBC
contract.
SanDisk gained 3% after reaffirming guidance.
China.com lost ground on the acquisition of Pivotal.
VA Software fell 12% on a negative mention in Barron’s.
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