TI Narrows Forecast (Update)

SAN FRANCISCO -- Texas Instruments(TXN Quote) tightened its financial forecast for the current quarter, leaving the midpoint of its guidance unchanged despite growing anxiety about the cell-phone market for semiconductors.

TI said business across its major business lines, including wireless chips, have performed according to expectations halfway through the third quarter.

Those expectations were already lackluster, with TI having warned in July that third-quarter sales would be slower than usual for this time of year. Still, the fact that business has not deteriorated further pushed TI's stock up nearly 5.5% to $22.90 in extended traing. ...