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Texas Instruments Ups View, Shares Fall

Texas Instruments lifted the bottom end of its second-quarter guidance.
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(Texas Instruments report updated with share price movements)
DALLAS (TheStreet) -- Texas Instruments (TXN) - Get Report shares have taken back earlier, pre-market gains that occurred after the company lifted the bottom end of second-quarter guidance to revenue of $3.45 billion to $3.59 billion from a previously expected range of $3.31 billion to $3.59 billion. It expects earnings of 60 cents to 64 cents a share, up from a prior forecast of 56 cents to 64 cents a share.

Shares of Texas Instruments closed down 0.6% to $23.74, as investors took profits.

Factors that could impact this guidance includes market demand for semiconductors, particularly in key markets such as communications, entertainment electronics and computing, Texas Instruments said in a press release, ahead of a conference call its it holding Wednesday afternoon.

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-- Reported by Andrea Tse in New York

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