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Texas Instruments [TXN
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] just reported earnings in line. Guidance for the second quarter is weak, 42-48 cents per share, estimate is 48 cents. Down about 2 percent after the close.
For today's trading, it could have been worse.
Particularly in financials, what with National City [NCC
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] announcing a $7 billion capital raising, Bank of America [BAC
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] disappointing, and Oppenheimer's Meredity Whitney continuing to be sour on Citigroup [C
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] and Wells Fargo [WFC
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].
On top of that, record oil prices meant energy stocks at new highs, and airline stocks hit new lows, mergers or no.
Not to be outdone, coal stocks hit new highs as Arch Coal [ACI
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] raised its guidance and predicted higher coal prices.
Tech outperformance continues: Microsoft [MSFT
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] , Hewlett [HPQ
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] have been big helps to the Dow recently.
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