Eyes of Wall St. on TI
Eyes of Wall St. on TI
9/3/2004 16:00
Texas Instruments could set a positive tone for Tuesday's U.S. stock trading after the chipmaker raised the lower end of its first-quarter estimates.

At 5:45 a.m. ET, futures pointed to a higher start for the major indexes.

TI boosted the lower end of its earnings estimate for the quarter Monday to 19 cents a share from 16 cents; the high end remained at 22 cents. The lower end of the communications chip specialist's revenue was lifted to $2.84 billion from $2.72 billion, with the higher end holding at $2.95 billion.

The tech sector could use a boost. The Nasdaq composite index started the week with a 1.9 percent drop, due in part to a long-term forecast of slowing semiconductor sales. The Dow Jones industrial average was down 0.6 percent as Eastman Kodak (EK: Research, Estimates) warned about first-quarter earnings following the acquisition of two digital printing units from a German company (see chart for details).

Asian-Pacific stocks ended mostly higher, with Tokyo's Nikkei index up 0.3 percent. European markets retreated in early trading. (Check the latest on world markets)

Treasury prices fell in early trading, sending the 10-year note yield up to 3.79 percent from 3.77 percent late Monday. The dollar gained against the yen and euro.

Brent oil futures added 14 cents to $32.91 a barrel in London, where gold was higher.

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