Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 684.83

+0.6%

Dec 22 4:00 PM EST

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From: Dr. Stoxx	6/8/2005 7:10:15 AM
	of 39683

07:07 TXN Texas Instruments: Color on mid-quarter update (27.28 ) Analysts are seeing almost nothing negative in TXN's mid-quarter update, with several firms upping their estimates and price tgts. EPS upside is attributed to higher utilization, strong opex cost controls, and lower share count as a result of the ongoing buyback. There is also one firm downgrading TXN based on valuation... JP Morgan believes this is a preview for additional upside from the rest of the semi space, as demand seasonally increases and inventory in the channel is too low. Firm expects other broad-based companies such as ADI, ONNN, IRF, and CY to soon experience upside. Maintains Neutal on TXN on valuation... Smith Barney says that while investors might interpret MXIM's revenue update as suggestive of slowing in May, TXN's indication that revenue linearity is increasing month to month throughout the quarter should help quell fears of any notable end-market slowdown. After a strong recent rally, profit-taking in semi stocks over the normally slow summer is likely, but with fundamentals improving they believe there is growing interest in the group, so downside risk likely limited. Maintains Hold on TXN.

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