TI Shares Climb on Revised Guidance

Updated from 2:02 p.m. EDT

Shares of Texas Instruments(TXN Quote) surged Tuesday after the chipmaker raised its second-quarter guidance, hinting that the semiconductor industry may be poised for a turnaround.

The Dallas, Texas-based firm, which makes chips for cell phones and analog chips for gadgets such as headphones, raised both its revenue and profit estimates, pushing its share price upwards.

The company expects second-quarter sales between $2.3 billion and $2.5 billion, up from its prior estimate of $1.95 billion to $2.4 billion. Texas Instruments also expects profit of 14 cents to 22 cents a share, compared to its previous range between 1 cent and 15 cents a share. ...