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Texas Instruments Shares Slide on Weak 3Q Forecast
Texas Instruments shares slid after the Dallas-based chip maker reported a weak forecast for the third quarter. Shares were down 12.2% at $188.72 on Wednesday. The company is on pace for the largest percent decrease since July 22, 2008, when it fell 14.62%.
Texas Instruments' stock falls on weak forecast
Texas Instruments said it expects current quarter earnings between $1.36 and $1.60 per share, while analysts were looking for $1.50 per share. The company forecast revenue of $4.45 billion to $4.8 billion, for a midpoint of $4.625 billion. analysts were expecting revenue of $4.59 billion.
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