Texas Instruments Inc. (TXN) announced after the close Monday that it now expects second quarter revenue of $2.99 billion to $3.11 billion, compared to its prior guidance of $2.93 billion to $3.17 billion. The company also narrowed its second quarter earnings outlook to a range of $0.39 to $0.43 per share from its earlier outlook range of $0.37 to $0.45 per share. The consensus estimates are for EPS of $0.42 and revenues of $3.06 billion.
Texas Instruments gapped open lower Tuesday and fell during the first hour of trade. Shares slipped further in the early afternoon and closed down by 1.36 at $35.26. The stock fell to over a month and a half low.
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