Texas Instruments (TXN) - Get Report was down 6.6% in midmorning trading. After the close Monday, the chipmaker posted fourth-quarter earnings of 31 cents, missing the First Call/Thomson Financial estimate of 33 cents.
Texas Instruments also warned that first-quarter earnings would be lower.
lowered its 2001 EPS forecast to $1 from $1.55.
reiterated its buy rating. Other chip stocks were mixed. The
Philadelphia Semiconductor Index
was down 0.6%.