Texas Instruments Sales, Profits Fall On Weak Demand -- Texas Instruments Inc.'s third-quarter profit fell 30%, hurt by a broad slump in
demand that the chip maker said should continue into the current period. The company's revenue in the third quarter was higher than it
expected, but it noted the quarter was softer than normal. While executives said on a conference call that the company is seeing "early
signs of stabilization," they still expect the fourth quarter to be weak and below seasonal. "Economic uncertainty continues to weigh on
demand in almost every major market segment in which we operate," Chairman and Chief Executive Rich Templeton said in a press
release. Shares, up 11% over the past 12 months through Monday's close, slipped 1.3% to $31.27 in after-hours trading. The stock had
climbed 4% during the regular session trading, slightly better than the 3.4% gain in the Philadelphia SOX Semiconductor index. (DJ)
STMicroelectronics Forecasts Sales That Miss Analysts’ Estimates -- STMicroelectronics NV, Europe’s largest semiconductor maker,
predicted fourth-quarter sales that fell short of analysts’ estimates, citing a “further weakening of the market environment.” Net revenue will
range from $2.15 billion to $2.3 billion, the Geneva-based company said in a statement yesterday. That compares with an average analyst
estimate of $2.52 billion, according to Bloomberg data. Gross margin, the percentage of sales remaining after costs of production, will be
33.5 percent, plus or minus 1.5 percentage points -- also below estimates. “We have seen further deterioration in the semiconductor market
environment amid macroeconomic uncertainty, and we are now experiencing a much weaker demand across a broader range of products,”
Chief Executive Officer Carlo Bozotti said in the release, issued after the close of trading in New York. The company “remains cautious on
the market environment,” while still expecting revenue and operating income growth in several businesses this year, Bozotti said. (BN)