What a great week for Texas fans. First, the Houston Texans overcome the football season's longest opening-day odds to vanquish the Miami Dolphins. Now, Texas Instruments
Strength in its bread-and-butter semiconductor business finds the company tightening its projected range for the better. TI is now looking to earn between $0.20 and $0.22 a share on revenue between $2.4 billion and $2.5 billion. Unfortunately that finds the company raising the floor on the top-line but simply holding firm on the bottom. Wall Street was already braced for the worst after wireless bellwether Nokia
Coupled with a floor-raising move by Intel
Will we forgive TI for its lapse in evenhandedness? Three months ago, it blamed SARS, in part, for a second-quarter shortfall during that period's mid-quarter update. Is it bold enough to hog the credit now for its healthier revenue gains while it shifted the blame to external factors in the previous quarter?
Not really. TI wasn't alone anyway as others such as Motorola
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Texas Rocks
Texas Instruments raises the floor. Surprised?
About the Author
Rick Munarriz is a contributing Motley Fool stock analyst and long-time contributor to the company’s free and premium investing services, including Rule Breakers. He has analyzed stocks across media and entertainment, retail and restaurants, and emerging technologies for The Motley Fool for 30 years. Rick holds an MBA from the University of Miami and earlier worked as vice president of sales at Pan American Frozen Foods and as Miami editor for AOL’s CitySearch. Rick is a regular guest on CNBC, Bloomberg, Yahoo Finance, and Fox Business for his expert stock analysis.
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