Chip Demand Down, Says TI–Here’s Why

Stocks are drifting lower after lowered chip
guidance. Texas Instruments
(
TXN |
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PowerRating) lowered its guidance, citing weak big
screen TV sales. The company said customers expected more year end flat screen
and HDTV sales. Bear Stearns said to buy the stock on any weakness.

Bank of America raised estimates on National Semiconductor
(
NSM |
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PowerRating).

Yahoo
(
YHOO |
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PowerRating) was upgraded at UBS, to ‘buy.’ UBS also upgraded
Google
(
GOOG |
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PowerRating) to ‘neutral’ from ‘sell.’

Circuit City
(
CC |
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PowerRating) rejected the $17 offer from Highlands.

Seagate
(
STX |
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PowerRating) raised its Q3 revenue and profit target.

Homebuilders are weak after Ryland
(
RYL |
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PowerRating) lowered its Q1 outlook.

Stocks in the News

Dick’s Sporting Goods
(
DKS |
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PowerRating) guided lower.

Qualcomm
(
QCOM |
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PowerRating) raised its dividend from 7 cents to nine cents
and doubled its share repurchase authority to $2 billion. Paul Jacobs will be
promoted to CEO, replacing his father, Irwin.

Las Vegas Sands’
(
LVS |
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PowerRating) profit Q4 rose sharply.

BHP Billiton
(
BHP |
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PowerRating) will make a $7.3 billion bid for WMC
Resouces
(
WMC |
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PowerRating).