A cautious outlook from Texas Instruments (NYSE: TXN) weighed on the tech sector Tuesday, as the Nasdaq lagged its blue chip counterparts for a second day.
TI said its second-quarter sales could top Thomson Financial's consensus forecast of $3.37 billion, a plus after two straight disappointments from the company. TI narrows fourth-quarter sales, profit expectations - International ::
U.S. stocks slip led by financial firms. Brussels waffles over China for chips in upper-end cell phones, leading TI to cut its fourth-quarter outlook.
http://www.iht.com/articles/ap/2007/12/10/business/NA-FIN-US-Texas-Instruments-Outlook.phpHOME |
But the company's comment that wireless handset sales are weaker than expected weighed on its shares and wireless firms like Nokia (NYSE: NOK) and Ericsson (NASDAQ: ERIC).
Apple (NASDAQ: AAPL) recouped 2% a day after unveiling its new 3G iPhone. Garmin (NASDAQ: GRMN) fell 5.6% on worries about GPS competition from Apple, and Synchronoss (NASDAQ: SNCR) tumbled 17% after restating that its account activation technology won't be used in retail 3G iPhone sales. Texas Instruments finally gets fresh, unveils TI-Nspire calculators ::
Dell lets slip new, sexy Precision M6400, M4400 and M2400 mobile workstations Chandler wants to set you free from Outlook, takes 6 years to do it
http://www.engadget.com/2007/04/11/texas-instruments-finally-getsnveils-ti-nspire-calculatHOME |
Nvidia (NASDAQ: NVDA) lost 6% on an FTN Midwest downgrade.
CMGI (NASDAQ: CMGI) tumbled 25% on its results.
The broader market was restrained by more hawkish comments from Fed chairman Ben Bernanke that suggested that rate hikes may be coming. UPDATE 1-AT&T sees $5bln more from network services to IBM | Reuters::
UPDATE 2-TI profit up, outlook eases investor jitters Futures point to stock slip, retail sales eyed. Oil pauses after fall on steep demand drop
http://www.reuters.com/article/technology-media-telco-SP/idUSN0238060920071002HOME |
The Nasdaq lost 10 to 2449, the S&P fell 3 to 1358, and the Dow added 9 to 12,289. Volume rose to 4.57 billion shares on the NYSE, and declined to 2.08 billion on the Nasdaq. Decliners led by a 22-11 margin on the NYSE, and 16-12 on the Nasdaq. Downside volume was 57% on the NYSE, and 69% on the Nasdaq. New highs-new lows were 38-198 on the NYSE, and 35-201 on the Nasdaq.
 Another Day, Another Stock Market Plunge
 Investors' Love for Tech Stocks Fades
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