reported solid second-quarter results after the close on Monday, beating Wall Street estimates just about any way you slice them.
TI reported a 9% sequential jump in revenues to $3.24 billion, and earnings of 32 cents a share came in ahead of 29-cent forecasts. Gross margins of 47% were also better than expected, and the company reported 10.7% sequential growth in orders to $3.4 billion. The company also raised its dividend and announced a $2 billion stock buyback, and raised guidance for the third quarter.
“Our strong growth underscores the importance of DSP and analog to a wide range of electronics equipment,” TI CEO Rich Templeton said in a statement.
TXN shares jumped 4% after hours.
Also after the close, shares of Netflix
, J2 Global
surged after the companies beat estimates.
Stocks fell victim to profit-taking Monday as oil prices rose and earnings reports came in mixed.
The Nasdaq lost 13 to 2166, the S&P fell 4 to 1229, and the Dow lost 54 to 10,596. Volume declined to 1.72 billion shares on the NYSE, and 1.53 billion on the Nasdaq. Decliners led 20-12 on the NYSE, and 19-11 on the Nasdaq. Downside volume was 66% on the NYSE, and 62% on the Nasdaq. New highs-new lows were 280-26 on the NYSE, and 173-17 on the Nasdaq.
jumped 18% on news that it will be acquired by India’s Videsh Sanchar Nigam
lost 3% on a Merrill Lynch valuation downgrade.
lost 13% on its results, and Xerox
fell 6% on its earnings report.
surged 11% on its results.