TXN earnings and outlook were disappointing. From Briefing.com:
TXN resumes trading; falls 12% in after hours
Nasdaq-100 After Hours indicator falls 8 pts. The decline in the After Hours indicator follows TXN's Q3 earnings report and disappointing Q4 guidance... Seeing chip names such INTC -3% and MXIM -6% tick lower in reaction to TXN.
4:49PM Texas Instruments guides Q4 below consensus (TXN) 17.12 +0.02: -- Update -- For Q4, co sees EPS of about $0.02 on a pro forma basis, "plus or minus a few cents." TXN sees a 10% sequential decline in revenues, implying Q4 top-line of approx. $2.02 bln. The Multex consensus estimates for Q4 are $0.11 and $2.3 bln.
4:35PM Texas Instruments misses by a penny; guides down (TXN) 17.12 +0.02: -- Update -- Reports Q3 pro forma net of $0.09 a share, $0.01 worse than the Multex consensus. On a GAAP basis, co earned $0.11. Revs rose 21.6% to $2.248 bln (consensus $2.27 bln). TXN sees Q4 revs down 10% sequentially, suggesting revs of approx. $2.02 bln (consensus $2.30 bln).
4:46PM Intl Rectifier beats by $0.03 (IRF) 16.46 +0.96: Reports Q1 earnings of $0.21 per share, $0.03 better than the Multex consensus of $0.18; revenues rose 25.9% year/year to $212.2 mln vs the $211.0 mln consensus.
4:36PM Altera reports in-line Q3, increases buyback (ALTR) 11.41 +0.84: Reports Q3 (Sep) earnings of $0.06 per share, in line with the Multex consensus of $0.06; revenues rose 3.4% year/year to $180.1 mln vs the $180.8 mln consensus. In addition, co has increased its repurchase program to 68.0 mln shares from 48.0 mln.
finance.yahoo.com^SOXX+ALTR+AMAT+AMD+BRCM+INTC+IRF+KLAC+LLTC+LSCC+LSI+MOT+MU+MXIM+NSM+NVLS+TER+TXN+XLNX+^VIX+^IXIC+^SPX&d=t
There are only a handful of names outside of Cary's carefully selected few that don't scare me from the long side of the equation. That is not to say that the favorable seasonal swing into equities cannot continue but it is going to get more difficult if the SOX does not continue to rise. Especially for technology stocks.
We got up over the 50 day moving average on the SOX today. That usually means end game for the rise. At least it has since May of this last year.
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stockcharts.com[w,a]dhclyiay[pb50!b200!d20,2!f][vc60][iUb14!Uk14!Ul14!Lp14,3,3!Lf!Lc20!Lah12,26,9]&pref=G
JMNSHAATOWO, RtS |
