lost $1.85, or 6.2%, to $27.81 after the company
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
, 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.
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
, an Austin, Texas-based maker of phosphate-based lithium-ion rechargeable battery technology, jumped 19.3% to $3.83. The company announced it planned to expand manufacturing capacity to $35 million to $50 million per quarter by March 2009 so it can meet demand for its products. Valence also predicted gross profit margins of 30% of revenue and operating profit between 17% and 20% of revenue.
On the losing side,
Superior Well Services
( SWSI) fell 22.5% to $19.32. The Indiana, Pa.-based provider of well-site solutions to oil and natural gas companies posted fourth-quarter income of $7 million, or 30 cents a share, down from $9.8 million, or 49 cents a share, a year ago. Analysts polled by Thomson Financial were looking for 52 cents a share. This morning, Keybanc Capital Markets downgraded the stock to hold from buy.
slashed its 2008 outlook based on rising medical costs, weak enrollment and a weak economy. The stock plunged $18.66, or 28.3%, to $47.26.
Elsewhere, in medical devices,
( DSCP) said Tuesday it will sell its Patient Monitoring business to
Mindray Medical International
for $202 million in cash at the closing. Datascope will retain roughly $38 million of receivables generated by the business.
The deal, expected to close in the second quarter, propelled Datascope higher by $4.75, or 14.2%, to $38.28. Mindray slipped $1.84, or 6.3%, to $27.37.
This article was written by a staff member of TheStreet.com.