Tuesday's Winners & Losers: Valence Tech

Shares of Texas Instruments(TXN Quote) lost $1.85, or 6.2%, to $27.81 after the companylowered its forecast for the current quarter on weakness in its wireless business. TI said sales for the quarter will increase between 1% and 5% year-over-year to a range of $3.21 billion to $3.35 billion, lower than its earlier guidance of $3.27 billion and $3.55 billion. The chipmaker also slashed its EPS forecast to range between 41 cents and 45 cents, instead of its earlier guidance of 43 cents to 49 cents. Analysts were looking for revenue of $3.4 billion and 46 cents EPS.

TI's weak forecast also took its toll on Nokia(NOK Quote), which fell $1.61, or 4.9%, to $31.28. Analysts said TI's guidance indicating a slowdown in demand for mobile phones, especially 3G handsets, could indicate a weakness at Nokia.

Google(GOOG Quote) gained $12.55, or 3%, to $426.17 after the company said it has closed its $3.1 billion acquisition of DoubleClick following the European Union's approval for the deal. ...