Texas Instruments (Txn) announced a very significant raise in guidance roughly an hour ago. They've gone from a very wide range to guiding at the very top if not higher then the previous range on revenue and earnings are now expected to soar beyond the prior estimates. They've evidently cut to the bone that any incremental increase in revenue will lead to sharply higher earnings. The new median range is 80% above the street estimates.
TXN is not a market mover like it was back in the 90s, but they still should provide some nice upside to tech stocks tomorrow. It had been one of the worst performing stocks in the NetPayout Yield Portfolio, but this should help jazz up its returns.
4:30PM Texas Instruments raises Q2 outlook (TXN) : The company currently expects its financial results to fall within the following ranges: Revenue: $2.30 - $2.50 billion, First Call consensus is $2.21 bln, prior guidance was in the range of $1.95 - $2.40 billion; EPS: $0.14 - $0.22, First call consensus is $0.10, prior guidance was in the range of $0.01 - $0.15.