Some of Wednesday's midday movers:» Read More
Stocks rallied on Friday but still ended the week lower because of a three-day selloff sparked by higher interest rates.
U.S. chip maker Texas Instruments lowered the mid-point of its second-quarter revenue target on Monday as sales of calculators missed its expectations, sending its shares down 2.3%.
Stocks closed sharply higher as bargain hunters helped the market snap three-day selloff. "Bond yields have been rising and people stepped back from the market but came back in today and invested money that was piling up on the sidelines in the past couple of days," said David Goerz, chief investment officer at HighMark Capital.
Texas Instruments narrowed earnings guidance and tightened sales expectations for the fiscal first quarter. The semiconductor company said after Monday's close that it expects fiscal first-quarter earnings to range from 29 cents to 33 cents a share, compared with earlier guidance of 28 to 34 cents.
And you thought with last week's earnings warning from Advanced Micro Devices and the mixed financial bag from National Semiconductor that we'd be done with chips for awhile.
Stocks were set to start the week lower after concerns about sub-prime mortgage lending dented enthusiasm for a very busy Merger Monday.
Stocks ended Friday mixed but major indices were higher for the week. "We'll get a little more inflation data next week. We expect it to be tame and not consequential for the market," says First American Funds chief investment officer Mark Jordahl. "We're positive at this point, but it's hard to know when the market will get its legs again."
National Semiconductor posted a lower quarterly profit on Thursday, but the maker of power management and other chips said inventory concerns appeared to be behind it, and its shares rose.
Stocks inched their way to a positive close after a sharp reversal in oil eased selling pressure and a late buying spree broke out in internet stocks.
With an hour left in trading, the markets were up. A strong U.S. jobs report today counterbalanced less then stellar consumer sentiment. CNBC’s Mary Thompson reported from the floor of the New York Stock Exchange, saying that both Citigroup and McDonald’s were among the winners today. Mickey D’s hit a seven-year high on strong November sales.
National Semiconductor posted a lower quarterly profit on Thursday as high inventories among customers hit sales at the maker of power management and analog microchips.