Texas Instruments ( TXN) slashed its first-quarter guidance, saying it still sees a reduction in demand for its wireless products. The Dallas-based chipmaker lowered its first-quarter earnings outlook to 15 cents to 19 cents a share on revenue of between $2.99 billion to $3.11 billion. It had previously expected earnings of 16 cents to 24 cents a share on revenue of $3.02 billion to $3.28 billion. Analysts polled by Thomson Reuters forecast Texas Instruments to report first-quarter earnings of 31 cents a share on revenue of $3.16 billion. Shares of Texas Instruments were down 1.1% to $32.25.
United Parcel Service ( UPS) is close to an agreement to buy TNT Express ( TNT), Europe's second largest package delivery company, according to several news sources. UPS's initial $6.5 billion offer was rejected until it upped its bid to €9 a share last month. According to Bloomberg, which cited an anonymous source, an announcement may come next week. The deal would give UPS a leg against its competitor FedEx. UPS currently has a 7.7% share of the European market while FedEx has 3.3%. TNT and Deutsche Post have the most market share, with 9.6% and 17.6%, respectively.
Boston Scientific ( BSX) will buy privately held Cameron Health in a deal worth $150 million. Boston Scientific will potentially pay an additional $150 million after the U.S. Food & Drug Administration approves Cameron's S-ICD wireless system, a subcutaneous implantable defibrillator. As part of the deal, the buyer will pay $1.05 billion in revenue-based milestone payments over a six-year period. Shares of Boston Scientific were up 0.3% to $5.95 before the bell.