Texas Instruments Down on Reiterated Outlook

By TSC Staff ,

Texas Instruments (TXN) - Get Report was down 2.7% in early trading after the chipmaker reiterated its second-quarter guidance late Tuesday.

The company said revenue would fall 20% from the first quarter as a result of a weak market, adding there has been no improvement in the quarter. Texas Instruments said it expects break-even operating margins for the quarter, and research and development in 2001 to be flat compared to the previous year.

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