118.85 -0.10 (-0.08%)
After hours: 5:40PM EDT
|Bid||118.65 x 1200|
|Ask||118.51 x 1300|
|Day's Range||115.87 - 121.62|
|52 Week Range||87.70 - 132.20|
|Beta (3Y Monthly)||1.21|
|PE Ratio (TTM)||22.09|
|Earnings Date||Jan 21, 2020 - Jan 27, 2020|
|Forward Dividend & Yield||3.60 (2.80%)|
|1y Target Est||129.85|
U.S. stocks rose slightly in a choppy session of trading as investors considered major corporate bellwethers’ concerns that a slowing global growth environment was crimping their quarterly earnings results.
Stocks close higher Wednesday after investors digested a slew of earnings reports from some of America’s largest companies, including Dow components Caterpillar Inc. and Boeing Co., shares of which rose despite both companies reporting weaker-than-expected earnings declines.
For followers of Texas Instruments, it’s no secret the sector is suffering through a downturn, so the declines in sales were hardly a surprise. But the hope was for some kind of low-point. Instead, Texas Instruments forecasted a potential 14 percent drop in the fourth quarter.
With one hour left in the day, a quick glance at the 10 worst stocks in the S&P 500 show a consistent theme—investors are scared of semiconductor stocks. They’re not terribly fond of garbage, either.
Wall Street was supported by gains in Apple and Boeing shares on Wednesday, though weak earnings from Caterpillar and Texas Instruments raised concerns of an impact from the U.S.-China trade war on global growth. Apple Inc shares rose 1.1% after Morgan Stanley said the iPhone maker's soon-to-be-launched video streaming service, Apple TV+, could boost its services revenue.
Semiconductor stocks fell after-hours as Texas Instruments’ (TXN) third-quarter earnings and guidance missed estimates by a large margin.
World stock indexes edged up on Wednesday, with the S&P 500 boosted by gains in shares of Apple that offset Texas Instruments' disappointing forecast, and the British pound steadied as European Union leaders consider London's request for a Brexit delay. On Wall Street, chipmakers fell along with shares of Texas Instruments, while Apple shares rose after Morgan Stanley said the iPhone maker's soon-to-be-launched video streaming service could boost its services revenue. "What I think is causing the hesitation is the fear of other bellwether companies also disappointing," said Andre Bakhos, managing director at New Vines Capital LLC in Bernardsville, New Jersey.
Chip stocks are sliding Wednesday after Texas Instruments Inc. issued weak results and a below-seasonal forecast that sparked fears of deepening problems for semiconductor names.
Here is a sneak peek into how four technology stocks, namely, Intel, Twitter, Citrix and VeriSign, are poised ahead of their third-quarter 2019 earnings releases on Oct 24.
Elastic, iRobot, Chipotle, Texas Instruments and Snap highlighted as Zacks Bull and Bear of the Day
Semiconductor bulls assumed the chip bottom was near, but the industry bellwether poured cold water on that narrative.
Texas Instruments' (TXN) third-quarter results bear the brunt of weakening end-market conditions and U.S.-China trade tensions. Moreover, the company issued weak fourth quarter guidance.
Alexion and Teradyne jumped early Wednesday, and Caterpillar stock rebounded, helping boost the Dow Jones today.
"Not nearly frightened enough," is Aragorn's addendum to Frodo's "Yes" to that question in the first installment of Peter Jackson's Lord of the Rings series, when the two are fleeing a group of zombie-magic kings. With international bellwethers Texas Instruments Incorporated (NASDAQ: TXN) and Caterpillar Inc. (NYSE: CAT) missing expectations and offering nothing positive in the way of guidance, the burgeoning reflation trade of the past month– steepening yield curve, leadership from banks and industrial stocks–is likely to take a beating. What's more, TI’s performance may halt the semiconductor rally that's been important to offsetting major declines in software stocks.
(Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Texas Instruments Inc. shares plunged the most in almost 11 years after the chipmaker gave a weaker-than-expected forecast and warned that trade tension is making customers far more cautious. The report spurred a sell off in semiconductor stocks.Investors have poured money into chip stocks this year, betting on a rebound in demand. That hasn’t happened as a U.S.-China trade war drags on, undermining economic growth. Texas Instruments, the first big semiconductor maker to report in this earnings cycle, has products in almost all markets that use electronic components, making its predictions a broad indicator.The company said most of its markets deteriorated in the quarter, with automotive and communications-equipment demand among the weakest. Companies are cutting back on orders as they wait for China and the U.S. to reach a definitive trade agreement, Chief Financial Officer Rafael Lizardi said.“Macro is weak because of trade tensions,” Lizardi added in an interview on Tuesday. “When that happens, companies pull back.”Texas Instruments shares dropped as much as 13% Wednesday. They were down 8.7% to $117.35 at 9:40 a.m. in New York. European peers also declined. STMicroelectronics NV and Infineon Technologies AG declined as much as 4.9% and 4.2% respectively before 11:30 a.m. in central Europe.Texas Instruments has more than 100,000 customers and a similar number of products, so a drop in orders signifies a weaker economy, not a loss of market share, the CFO also said.Fourth-quarter earnings will be 91 cents a share to $1.09 a share on revenue of $3.07 billion to $3.33 billion, the Dallas-based company said in a statement. On average, analysts predicted profit of $1.28 a share and sales of $3.59 billion, according to data compiled by Bloomberg. At the mid-point, Texas Instruments’ projections represents a 14% decline in revenue from a year earlier.The company had said sales declines this year were the result of torrid growth in 2018 when customers accumulated inventory they’re now working through. A normal pattern would result in five quarterly declines before the backlog is cleared. The quarterly results reported on Tuesday marked the fourth period of contraction, so Wall Street was looking for signs of improvement. That made the warning from Texas Instruments particularly disappointing.“It’s more concerning for the global growth outlook going forward,” said Logan Purk, an analyst at Edward D. Jones & Co. “It’s not good for the rest of the semiconductor space or markets in general.”The world’s sixth-largest chipmaker reported third-quarter net income fell to $1.43 billion, or $1.49 per share, from $1.57 billion, or $1.58 a share, in the same period a year earlier. Revenue dropped 11% to $3.77 billion. Analysts had estimated a profit of $1.42 a share on sales of $3.81 billion.The company gets the biggest portions of its revenue from the industrial and automotive markets where its chips provide key basic functionality such as power regulation and the translation of real-word experiences like sound and pressure into electronic signals. It’s a major supplier of parts for communications equipment such as mobile phone network base stations. Demand for that kind of chip dropped 20%, the company said.(Updates with share trading in fifth paragraph.)To contact the reporter on this story: Ian King in San Francisco at firstname.lastname@example.orgTo contact the editors responsible for this story: Jillian Ward at email@example.com, Andrew Pollack, Jennifer RyanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Wall Street headed for a flat open on Wednesday, after earnings from industrial bellwether Caterpillar and chip major Texas Instruments kept investors on edge over the fallout from the U.S.-China trade war. Texas Instruments fell 8% premarket after the trade tensions took a toll on the chip industry proxy's current-quarter revenue forecast, while Caterpillar Inc dipped after the company cut its annual profit forecast on slowing China demand.