Big Texas Instruments
(TXN) said second-quarter profits and revenue will be higher than previously expected as customers replenish inventories. According to Bloomberg, the second-largest US semiconductor maker said earnings will likely come in around 14 to 22 cents a share on revenues of $2.3 billion to $2.5 billion. Consensus estimates called for the company to make 10 cents a share on sales of $2.21 billion.
Ron Slaymaker, vice president of investor relations, said on a conference call that all major product lines are growing but orders for analog chips is by far the biggest driver for sequential growth this quarter. Shares are up 5% in premarket trading. From the Bull Pen
: Those bullish Texas Instruments can set an initial position here with the intention of adding on a pullback to gapfill near yesterday’s close ($19.77). A sell stop can be set near $18. The semiconductor ETF
(SMH) is also an option at gapfill. A sell stop can be set below $20.50-20, depending on your risk profile.From the Bear Cave
: For a tech related play, bears can continue to look to AT&T
(T) following its 20 DMA to the downside. There’s also major resistance at $25. The trend is your friend until this is broken, so a buy stop can be set above that level. Quick Check Around the World
Asian trading closed with the Hang Seng
-0.80%, and Taiwan
Glancing towards Europe, we see the FTSE
As of 8:00 AM EST, S&P Futures
are trading +3 to 942.00, and Nasdaq futures
are +7 to 1488.49. A Look at Commodities
Over in commodities, crude oil
is trading +1.18 to 69.27 while gold
is +1.70 at 954.20 this morning. Silver
is +0.120 to 15.07 and copper +4.95 to 230.25.
The dollar index
is -0.6300 to 80.3400. On the Radar
10:00 Wholesale Inventories: -1.0% cons.
Click here for the full trading radar
Good luck today!
No positions in stocks mentioned.
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