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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: Jorj X Mckie who wrote (8239)	10/21/2002 10:23:17 AM
From: X Y Zebra	Read Replies (1) \| Respond to of 57110

their groupies ? the public at large needs protection from that noise... never been able to figure out why people listen to loud noise... i wonder if a smart lawyer could bring a class action suit against acid rock bands... a la Phillip Morris -g

To: Jorj X Mckie who wrote (8239)	10/21/2002 10:28:36 AM
From: TimeToMakeTheInvs	Read Replies (1) \| Respond to of 57110

Full moon was pretty last night. I hate fleas! Anybody else stopped watching the news lately, they only have two stories <g>. tim

To: Jorj X Mckie who wrote (8239)	10/21/2002 10:21:23 PM
From: Lost1	Read Replies (1) \| Respond to of 57110

got new bull? Texas Instruments Warns on Profits Monday October 21, 8:08 pm ET By DAVID KOENIG, AP Business Writer Computer Chip Maker Texas Instruments Warns on Profits; It Plans to Cut 500 Jobs DALLAS (AP) -- Computer chip maker Texas Instruments Inc. saw third-quarter sales rise 22 percent from a year ago, but it warned Monday that it expects disappointing sales and profits the rest of the year and will cut 500 jobs. ADVERTISEMENT The company said it expects to earn 2 cents or 3 cents per share in the fourth quarter, far short of the 11 cents analysts had expected. The warning sent shares down $2.86, or 16 percent, in extended trading after they rose 2 cents in regular trading to close at $17.02 on the New York Stock Exchange. Dallas-based TI said it earned $188 million, or 11 cents per share, in the July-September quarter, compared to a loss of $117 million, or 7 cents per share, a year earlier. Excluding what it considered one-time costs and gains, TI said it would have earned 9 cents per share. Analysts surveyed by Thomson First Call had forecast 10 cents per share. Revenue was $2.25 billion, compared to $1.85 billion a year earlier. TI said revenue would fall 10 percent from the third quarter through the rest of the year, which would put fourth-quarter revenue at about $2.04 billion. Analysts had expected $2.32 billion in the period. Ron Slaymaker, director of investor relations, said revenue from new chips for advanced cell phones was stronger than expected. But orders for chips used in personal computers and printers was disappointing and likely to remain sluggish, he said. Revenue from calculators and sensors, smaller product lines within TI, are also expected to decline, he said, partly due to the weak economy. Slaymaker said the company believes its manufacturing customers have depleted their inventories -- large inventories had crimped chip sales for several quarters. Now, he said, the company is being affected by customers' more cautious outlook about the sales of end electronic products. As a result, Texas Instruments will cut 500 jobs "in the coming months," mostly in manufacturing and support jobs, Slaymaker said. Cody G. Acree, an analyst with Legg Mason, said TI and other chip maker are paying the price for overly optimistic assumptions about a recovery in PC sales. Acree said TI's revenue warning was "a factor of the overall economic malaise and not a matter of TI mis-executing or losing market share." TI said gross profit declined from the second quarter mostly due to smaller royalties and less utilization of factories late in the third quarter. The company said operating expenses rose from the second quarter. ti.com