Editor's Note: This column by Bob Faulkner is a special bonus for TheStreet.com and RealMoney readers. It appeared on Street Insight on March 7. To sign up for Street Insight , where you can read Faulkner's commentary in real time, please
click here . Texas Instruments ( TXN) provided its midquarter update last night, and this morning you'll get any number of interpretations on whether the glass is half-full or half-empty. These interpretations should correlate directly with analysts' opinions on the stock or on the group. I'd be quite surprised if anyone changed his opinion on the basis of the information gleaned from the call, because midquarter updates are generally devoid of many details. Essentially, the company narrowed guidance toward the upper end of the prior range. Revenue is now expected to be in the $3.22 billion to $3.35 billion range vs. prior targets of $3.11 billion to $3.38 billion. Semiconductors should range from $3.15 billion to $3.28 billion vs. the previous range of $3.05 billion to $3.30 billion. Revenue in the entertainment and productivity division will be $65 million to $75 million vs. prior expectations of $60 million to $80 million. GAAP EPS should be in the range of 31 cents to 33 cents (vs. prior guidance of 29 cents to 33 cents), and this includes 4 cents of stock-based compensation. Street consensus going into the call was $3.27 billion and 32 cents, and I believe it's fair to say it had been inching up recently.