Xilinx keeps forecast, TI sees results at high end - UPDATE 2 09.09.2003 22:51 Headlines
SAN FRANCISCO (AFX) -- Xilinx held its sales forecast steady for the current
quarter following the close of regular trading Tuesday, while Texas Instruments
said it expects sales and earnings to come in at the top end its forecast range.
Xilinx , which makes programmable microchips, said it still expects
second-quarter sales to come in flat to slightly higher than the previous
quarter's total of $313.3 million.
At last check, shares of Xilinx had fallen 1.2 percent to $31.70.
Texas Instruments , the world's largest maker of semiconductors used in mobile
phones, said sales and earnings would be at the top end of its expectations due
to strong demand for a broad range of its semiconductors. TI expects earnings
between 20 and 22 cents a share and revenue between $2.39 billion and $2.49
billion
The update sent shares of TI down 2.6 percent to $24.65.
Topping the volume leaders on Island ECN late Tuesday were shares of wireless
networking equipment maker Proxim , The company announced a licensing and
distribution agreement with Motorola late Tuesday, estimated to be worth $10
million to Proxim through 2004.
Separately, Proxim said it has issued a warrant to Motorola to purchase 1.08
million shares of its common stock at an exercise price of $2.34 a share.
Proxim shares rose 40 cents, or 12.7 percent, to change hands for $2.68 in
recent dealings.
And shortly before the closing bell was sounded, Dow component International
Paper said that Chairman and Chief Executive John Dillon will retire Oct. 31,
and that its President John Faraci will be Dillon's replacement.
Shares of International Paper closed up 63 cents at $40.63. They rose a penny in
after-hours trading to change hands for $40.64 on thin volume.
The Nasdaq-100 After Hours indicator, which tracks late trading in tech stocks,
was down 0.76 points.
Both the Dow Jones Industrial Average and the Nasdaq Composite ended the
session down 0.8 percent, at 9,507.20 and 1,873.43, respectively.
This story was supplied by CBSMarketWatch. For further information see
www.cbsmarketwatch.com.
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