TI, Intel to Update Investors

Two chip giants will let investors know how their fourth quarters are progressing this week.

Texas Instruments will deliver its mid-quarter update after the close on Wednesday. Analysts are looking for earnings of 41 cents a share from TI, up from 28 cents in the year-ago quarter. Sales are expected to rise 14.6% to $3.61 billion. Despite a warning from TI in October, analysts haven’t lowered their estimates much at all, showing that expectations for the chip sector remain high.

Intel will follow with its mid-quarter update late Thursday. Wall Street is looking for earnings of 42 cents a share from Intel, up from 33 cents in the year-ago quarter, and sales are expected to rise 10.4% to $10.6 billion. Also of interest to analysts will be whether Intel is able to meet all the demand for its products as it deals with capacity constraints and product transitions. Analysts haven’t lowered fourth-quarter numbers on Intel much either, despite the company’s lukewarm guidance in October.

Stocks sagged Monday under the weight of rising interest rates and oil prices.

The Nasdaq lost 16 to 2257, the S&P 500 fell 3 to 1262, and the Dow declined 42 to 10,835. Volume rose to 2.28 billion shares on the NYSE, but declined to 1.72 billion on the Nasdaq. Decliners led 19-13 on the NYSE, and 18-11 on the Nasdaq. Downside volume was 59% on the NYSE, and 66% on the Nasdaq. New highs-new lows were 151-78 on the NYSE, and 168-36 on the Nasdaq.

Dell rose 1.4% on a Raymond James upgrade.

Logility soared 44% on its results and a deal with Hughes Supply .

Provide climbed 12% on news that it will be acquired by Liberty Media .

RSA tumbled 15% on an acquisition, restructuring and CFO resignation.

Comtech fell 7% on a downgrade.

Lexar fell 9% on a legal setback.

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