Texas Instruments ( TXN) narrowed its first-quarter outlook to the higher end of its prior estimates. The semiconductor specialist said Thursday it expects first-quarter revenue of $2.8 billion to $2.91 billion, compared with its prior guidance of $2.69 billion to $2.91 billion. Texas Instruments expects earnings of between 28 cents and 32 cents a share; its earlier forecast called for earnings of 24 cents to 32 cents a share. The latest forecast includes about 6 cents of acquisition and restructuring charges and a discrete tax benefit of 6 cents related to the reinstatement of the R&D tax credit. Analysts are looking for earnings of 31 cents a share on revenue of $2.8 billion. Texas Instruments Narrows Guidance
Google's ( GOOG) Motorola Mobility hardware unit has begun laying off about 1,200 employees, or more than 10% of its headcount, according to a company email reviewed by The Wall Street Journal. The new cuts come on top of the 4,000 jobs cut at Motorola Mobility in August as the smartphone maker continues trying to return to profitability, the newspaper noted. "These cuts are a continuation of the reductions we announced last summer. It's obviously very hard for the employees concerned, and we are committed to helping them through this difficult transition," a spokesman told the Journal.
Private-equity firm KKR ( KKR) reached a deal to buy Gardner Denver ( GDI), the industrial-pumps manufacturer, for $76 a share, a report said. KKR and Gardner Denver are expected to make the announcement as soon as Friday, a person familiar with the matter told the Journal. 4 Big Stocks to Trade (or Not)
McDonald's ( MCD) releases same-store sales for February on Friday morning.
Foot Locker ( FL) is expected by analysts Friday to post fourth-quarter earnings of 73 cents a share on revenue of $1.69 billion.
Ann Inc. ( ANN) is forecast by Wall Street to report fourth-quarter earnings of 1 cent a share on sales of $617.8 million.
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