Cerca de 70.000 portugueses emigraram em 2023. Suíça foi o destino preferido

[Alfred E. Neuman]

a subir 1,44%

Doing the Texas Two-Step

By Rick Aristotle Munarriz (TMF Edible)
September 17, 2004

What do you do when you're digging the music but no one wants to dance with you? The Texas two-step is a good start. With its stock trading at half of where it was just five years ago, Texas Instruments (NYSE: TXN) took to the two steps most companies with healthy balance sheets resort to in times like this. It is hiking its dividend. It is kicking off a massive $1 billion share buyback.

It may sound counterproductive at first. Why dig deep into one's corporate coffers to send more money to its investors and repurchase its shares at a time when investing in its future growth would be better. However, with nearly $4 billion in cash and marketable securities, it's not as if the chipmaker will be hurting for money after the deeds are done.

Yes, semiconductor stocks are cyclical beasts, and cash-rich players like TI and Intel (Nasdaq: INTC) are well served in saving for the inevitable rainy days. Earlier this month TI put up a mixed bag of results. Warning that a sequential dip in revenues was on the way, it was a break from upbeat results over the past few quarters.

Yet the fact that the stock is trading closer to its 52-week low than its recent highs makes the share buyback a good move. While using up that money means that the company will miss the interest it was earning on its idle cash, swallowing its own stock can still help improve the bottom line on a per-share basis by lowering the number of shares outstanding.

Sure, it wouldn't hurt if some of its largest customers like Nokia (NYSE: NOK) got back on their feet sooner rather than later, but TI can't control that. What it can control is its purse strings. That's why it is using up its spare change to fill up the dance card of the one dancer it knows will always be there for TI -- itself.~


Can you think of better uses for TI's idle cash? Do cyclical companies really need that kind of money for a safety net? All this and more in the Texas Instruments discussion board.


Longtime Fool contributor Rick Munarriz thinks that if ET would be calling home these days, then TI's chips would somehow play a part. He does not own shares in any of the companies mentioned in this story.

Legal Information. ©1995-2004 The Motley Fool. All rights reserved.

[Alfred E. Neuman]

Texas Instruments: a empresa anunciou ontem após o fecho da sessão que irá
aumentar o dividendo em 17% para os USD 2.5 cêntimos por acção e que irá igualmente
iniciar um plano de recompra de acções no montante de USD 1 mil milhões. O novo
dividendo deverá ser pago a 22 de Novembro, sendo a data ex-dividend a 1 de
Novembro. Relembramos que a empresa detinha no final do segundo trimestre deste ano
uma posição em cash e títulos excedentária no total de USD 3,93 mil milhões. O título
subiu USD 0.66 em after-market.

[Alfred E. Neuman]

Optimas noticias..segue a subir em After Hours


After Hours (RTM/ECN): 22.10 0.51 (2.36%)



TXN 21.59 -0.26 -1.19% Vol:10,960,900 4:00pm 09/16/04

TI Increases Return to Shareholders with $1 Billion Stock Buyback and More Than 17% Raise in Dividend

9/16/2004 4:30:00 PM


DALLAS, Sep 16, 2004 /PRNewswire-FirstCall via COMTEX/ -- Texas Instruments Incorporated (TXN) (TI) today announced that its Board of Directors has authorized the company to repurchase $1 billion of its common stock.

Additionally, the company plans to increase its quarterly cash dividend by more than 17 percent. TI's new quarterly dividend rate will be $0.025 per quarter, resulting in annual dividend payments of $0.10 per share. TI has paid dividends to its shareholders on an uninterrupted basis since June 1, 1962.

"TI has built leading positions in the industry's fastest growing markets. As a result, we have excellent growth opportunity, a healthy long-term financial outlook and a balance sheet that is the strongest in our history. This success enables us to increase the return we deliver our shareholders with a large stock buyback and a higher dividend," said Rich Templeton, TI's president and chief executive officer.

TI plans to repurchase shares at times and prices considered appropriate by the company. The share repurchase program announced today is in addition to the company's existing plan to repurchase 21 million shares authorized in February 2004.

TI expects the first quarterly distribution of the new dividend will be payable November 22, 2004, to stockholders of record on November 1, 2004, contingent upon formal declaration by the Board of Directors at its regular meeting in October. TI currently pays a quarterly cash dividend of $0.02125, or $0.085 annually.

The company had 1,731,077,633 shares outstanding at the end of the quarter, June 30, 2004.

[Alfred E. Neuman]

Colocada: 20/8/2004 12:57 Assunto: TXN

Em 2003, depois de um movimento de lateralização que se prolongou por cerca de 4 meses, a TXN iniciou em Agosto (17,90 USD ) um rallie que atingiu o seu máximo, 5 meses depois, nos 33,98 UDS, traduzindo-se assim num ganho de 90%.

A partir dai iniciou uma tendência descendente, eliminando progressivamente os ganhos até então. Penso que esta tendência terminou quando atingiu os 100% retracement Fibonacci do máximo atingido no rallie.

Actualmente encontra-se, então, nos niveis de há 1 ano atrás.

Acredito que agora entrará num processo de consolidação, com suporte nos 18 USD ....e range 18-20 USD ?

depois da excelente reação ao suporte zona 18$, fez um retest á zona suporte e "disparou" (melhoria da projecção de lucros da TXN e Nokia ).
Olhando para a vela de hoje, parece que alcançamos um equilibrio entre vendedores e compradores, acredito numa tomada de mais valias e recuo até zona 20,50$.
O mais importante foi confirmar o fim da tendência descendente que vinha desde o inicio do ano, e entrada num processo de consolidação que abre as portas a novas subidas.

[Alfred E. Neuman]

Texas Instruments Incorporated (NYSE:TXN)

Market Close @ 20.77 + 1.94 / 10.30%

After Hours @ 20.75 - 0.02 / -0.10%



Shares of Handset Chip Makers Up as Nokia Boosts Outlook
September 9, 2004: 15:03 p.m. EST

- Dow Jones Newswires

NEW YORK -- Shares of companies that supply the wireless handset industry rose sharply Thursday after Nokia Corp. (NOK) said strong volume growth in the global mobile device market has continued in the third quarter.

The world's largest cellphone maker boosted its third-quarter sales and earnings forecasts as a result.

Nokia's announcement has put an end to fears that there was something wrong with the broader cellphone market, said C.E. Unterberg, Towbin analyst Kalpesh Kapadia.

As recently as Wednesday, analysts at Merrill Lynch questioned the strength of the wireless handset market, saying there is an excess of inventory in China.

"People were saying that the cellphone market is not going to grow this quarter," Mr. Kapadia said, but "Nokia is saying that the world-wide market is actually healthy."

Those comments pushed higher the shares of companies that do business with Nokia, as well as those which don't.

RF Micro Devices Inc. (RFMD), for example, rose 7.7% to $5.62. Volume of 11.3 million shares was more than double the stock's average daily volume of 5.6 million shares.

About 35% of RF Micro's fiscal 2004 sales were to Nokia, according to the company's annual report.

A spokesman for RF Micro wasn't immediately available to comment.

At Texas Instruments Inc. (TXN), Nokia accounted for about 14% of total sales in 2003, which makes it TI's largest customer.

At about 2:50 EDT Thursday, Texas Instrument's shares climbed $1.87, or 9.9%, to $20.70 in trading on the New York Stock Exchange. The company Wednesday raised the lower end of its per-share earnings forecast, but cut its total sales targets for the third quarter.

Shares of Skyworks Solutions Inc. (SWKS), which is almost entirely focused on the wireless market, climbed 78 cents, or 9.6% to $8.89 in trading on the Nasdaq Stock Market. Nokia accounted for less than 10% of Skyworks' 2003 revenue.

Silicon Laboratories Inc. (SLAB) doesn't do a notable amount of business with Nokia, but generated about 50% of its revenue from handset related sales in 2003. Its shares rose $2.60, or 8.9%, to $31.94 at about 2:50 p.m. EDT, in Nasdaq trading.

Officials at Texas Instruments, Skyworks and Silicon Labs weren't immediately available to comment.

ThinkEquity Partners analyst Jason Tsai said the speed at which a pickup in business at Nokia could pass through to its suppliers is "pretty quick."


Nokia increased its revenue targets by 1.5% to 3%, which Mr. Tsai thinks could result in a similar increase at RF Micro during the September quarter.

Such an increase could add a penny to two cents a share of earnings to RF Micro Devices' fiscal second-quarter earnings, which Mr. Tsai currently expects will be three cents a share, he said.

C.E. Unterberg's Mr. Kapadia explained that the reason a pickup in business at Nokia affects its suppliers "almost instantly" is that Nokia's inventory is managed on a just-in-time basis.

The rise in prices for shares of companies that don't have as much business with Nokia as RF Micro Devices reflects the fact that "demand for the handsets is not nearly as bad as what people had anticipated," Mr. Tsai said.

He said comments in recent weeks by other chip makers as well as strong results during the second-quarter, meant expectations for sequential growth was tepid.

In addition, "there was a lot of talk about potential inventory buildup in China, and that was putting a damper on expectations."

But the news from Nokia eliminated some of these concerns.

Mr. Kapadia noted that the concerns were such that Thursday's rise was also partly because of short covering.

"There were a lot of people shorting the stocks because of concerns about overall demand," he said.

Neither Messrs. Kapadia nor Tsai owns any shares of the companies they cover, and neither of their employers has an investment banking relationship with the companies.

-By Mohammed Hadi, Dow Jones Newswires; 201-938-2007.

Dow Jones Newswires 09-09-04 1503ET Copyright (C) 2004 Dow Jones & Company, Inc. All Rights Reserved.

[Alfred E. Neuman]

Texas Instruments: reflectindo um abrandamento na procura por chips, a Texas
Instruments reduziu ontem depois do fecho do mercado a sua projecção de vendas do
3T2004 para o intervalo compreendido entre os USD 3,1 e 3,24 mil mn, o que se
compara com o anterior range estabelecido entre os USD 3,2 e 3,44 mil mn. O ponto
médio do novo intervalo de vendas ficou ligeiramente abaixo do esperado pelo mercado.
Já no que toca à estimativa de lucros por acção a empresa encurtou o intervalo dos USD
0,26 a 0,29 para os USD 0,27 a 0,29, acima dos US D 0,26 que eram esperados pelo
consensus de analistas. Reagindo positivamente à melhoria da projecção de lucros, a
Texas Instruments valorizou cerca de 1,5% em after market.

[Alfred E. Neuman]

TI Updates Third-Quarter 2004 Business Outlook

* Revenue Expected between $3100 Million and $3240 Million *

EPS Expected between $0.27 and $0.29

Conference Call on TI Web Site at 3:30 p.m. Central Daylight Time Today www.ti.com
9/8/2004 4:00:00 PM


DALLAS, Sep 8, 2004 /PRNewswire-FirstCall via COMTEX/ -- In a scheduled update to its business outlook for the third quarter of 2004, Texas Instruments Incorporated (TXN) today revised its expected revenue and earnings ranges. This update reflects what TI believes are adjustments by customers as they move quickly to reduce inventory levels to more closely match their own end- equipment growth rates. These adjustments are more aggressive in standard products sold through the distribution channel than in other areas.

The company's expectations for revenue are:
* Total revenue between $3100 million and $3240 million, compared with
the prior range of $3200 million to $3440 million;
* Semiconductor revenue between $2665 million and $2785 million, compared
with the prior range of $2780 million to $2980 million;
* Sensors & Controls revenue between $260 million and $270 million,
compared with the prior range of $255 million to $275 million; and
* Educational & Productivity Solutions revenue between $175 million and
$185 million, compared with the prior range of $170 million to
$190 million.


TI expects earnings per share (EPS) between $0.27 and $0.29, compared with the previous range of $0.26 to $0.29.

The company's revised earnings estimate reflects reduced factory loadings and a lower expected accrual for profit sharing. Additionally, the effective annual tax rate has been reduced from 29 percent to 26 percent, primarily due to an increase in the estimated tax benefit for export sales. Including catch-up adjustments, the third-quarter effective tax rate is estimated to be about 21 percent.

The company will hold a conference call at 3:30 p.m. CDT today to discuss this update. This conference call will be available live at http://www.ti.com . TI's original third-quarter outlook was published in the company's second-quarter 2004 earnings release on July 20, available at http://www.ti.com . TI's third quarter ends on September 30.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This release includes forward-looking statements intended to qualify for the safe harbor from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements generally can be identified by phrases such as TI or its management "believes," "expects," "anticipates," "foresees," "forecasts," "estimates" or other words or phrases of similar import. Similarly, statements in this release that describe the company's business strategy, outlook, objectives, plans, intentions or goals also are forward-looking statements. All such forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those in forward-looking statements.

We urge you to carefully consider the following important factors that could cause actual results to differ materially from the expectations of the company or its management:

* Market demand for semiconductors, particularly for analog chips and
digital signal processors in key markets, such as telecommunications
and computers;
* TI's ability to maintain or improve profit margins, including its
ability to utilize its manufacturing facilities at sufficient levels to
cover its fixed operating costs, in an intensely competitive and
cyclical industry;
* TI's ability to develop, manufacture and market innovative products in
a rapidly changing technological environment;
* TI's ability to compete in products and prices in an intensely
competitive industry;
* The timing of customer inventory adjustments;
* Losses or curtailments of purchases from key customers;
* TI's ability to maintain and enforce a strong intellectual property
portfolio and obtain needed licenses from third parties;
* Consolidation of TI's patent licensees and market conditions reducing
royalty payments to TI;
* Economic, social and political conditions in the countries in which TI,
its customers or its suppliers operate, including security risks,
health conditions, possible disruptions in transportation networks and
fluctuations in foreign currency exchange rates;
* Availability of raw materials and critical manufacturing equipment;
* TI's ability to recruit and retain skilled personnel;
* Fluctuations in the market value of TI's investments and in interest
rates; and
* Timely implementation of new manufacturing technologies, installation
of manufacturing equipment, and the ability to obtain needed third-
party foundry and assembly/test subcontract services.


For a more detailed discussion of these factors, see the text under the heading "Cautionary Statements Regarding Future Results of Operations" in Item 1 of the company's most recent Form 10-K. The forward-looking statements included in this release are made only as of the date of publication, and the company undertakes no obligation to update the forward-looking statements to reflect subsequent events or circumstances.

Texas Instruments Incorporated provides innovative DSP and analog technologies to meet our customers' real world signal processing requirements. In addition to Semiconductor, the company's businesses include Sensors & Controls and Educational & Productivity Solutions. TI is headquartered in Dallas, Texas, and has manufacturing, design or sales operations in more than 25 countries.

Texas Instruments is traded on the New York Stock Exchange under the symbol TXN. More information is located on the World Wide Web at http://www.ti.com .

SOURCE Texas Instruments Incorporated

media, Chris Rongone, +1-214-480-6868, or c-rongone@ti.com , or
Sharon Hampton, +1-214-480-6127, or s-hampton@ti.com , or investor relations,
Ron Slaymaker, +1-214-480-6388, or rslaymaker@ti.com , all of Texas
Instruments Incorporated. Please do not publish these numbers or e-mail
addresses.
/Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20010105/NEF016LOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com

[Alfred E. Neuman]

Texas Instruments, the world's fourth largest chipmaker in 2003 according to iSuppli, will issue a third quarter midquarter update after the close of market Wednesday.

Previously,

TI had predicted earnings of 26 to 29 cents a share and sales of $3.2 billion to $3.4 billion.

Analysts on Wall Street expect earnings of 27 cents and sales of $3.31 billion, on average, according to Thomson First Call.


TXN @ 18.80 ( 0.48% )


PS: Jobeta poderia colocar um gráfico para melhor ilustrar o seu ponto de vista? Obrigado.

[Jobeta]

[quote="Alfred E. Neuman"][quote="Jobeta"]Meu caro:

Obrigado pelo comentário, mas discordo, penso que a tendência descendente da TXN está esgotada e que irá consolidar na zona entre os 18-20,5 $USD. Não digo que vai inverter e começar um novo rallie já, não existem razões para isso, o que penso é que também não existem razões para descer abaixo da zona 17,80-18 $USD, o mesmo nivel de preços de há ano e meio.

Hoje depois da inversão dos semicondutores (vê o meu post os ursos voltam às cavernas e analizando a Txn vai aos 31 dolares è a minha opinião baseada na teoria de Elliot.

Deixo uma pergunta..as tecnológicas vão continuar a lever "porrada" até quando ? não terão já levado já suficiente?

Invereram e vão fazer uma C terminar a correcção do bear market que começou em outubro de 2002.
Cumpriment0s

[Alfred E. Neuman]

Meu caro:

Queres uma opinião -O mercado está bear.
Tomar uma posição longa ou de trader no ressalto (pode-se não acertar e o Sr mercado não dá duas hipóteses).
Curto acho que tem muito para baixar.
Meu amigo é uma opinião.
Cumprimentos

Obrigado pelo comentário, mas discordo, penso que a tendência descendente da TXN está esgotada e que irá consolidar na zona entre os 18-20,5 $USD. Não digo que vai inverter e começar um novo rallie já, não existem razões para isso, o que penso é que também não existem razões para descer abaixo da zona 17,80-18 $USD, o mesmo nivel de preços de há ano e meio. Historicamente: o ultimo trimestre costuma ser sempre um bom anos para as tecnologicas ( computadores, maq, digitais dão boas prendas de Natal); o mercado accionista tem-se comportado positivamente (ie com subidas) após as eleiçoes ( que irão acontecer em novembro )

Deixo uma pergunta..as tecnológicas vão continuar a lever "porrada" até quando ? não terão já levado já suficiente?



O movimento descendente dos ultimos 7 meses eliminou por completo o ganho de 90% verificado nos 5 meses anteriores ( inicio rallie agosto 2003-maximo Janeiro 2004)



PS: ignorem aqules 2 picos

[Jobeta]

Meu caro:

Queres uma opinião -O mercado está bear.
Tomar uma posição longa ou de trader no ressalto (pode-se não acertar e o Sr mercado não dá duas hipóteses).
Curto acho que tem muito para baixar.
Meu amigo é uma opinião.
Cumprimentos

[Alfred E. Neuman]

A descer 4,01%

Deve descer ainda mais nos próximos dias

Uma entrada nos 18 $USD é capaz de ser uma boa aposta

ver post acima para a big picture

[Alfred E. Neuman]

Em 2003, depois de um movimento de lateralização que se prolongou por cerca de 4 meses, a TXN iniciou em Agosto (17,90 USD ) um rallie que atingiu o seu máximo, 5 meses depois, nos 33,98 UDS, traduzindo-se assim num ganho de 90%.

A partir dai iniciou uma tendência descendente, eliminando progressivamente os ganhos até então. Penso que esta tendência terminou quando atingiu os 100% retracement Fibonacci do máximo atingido no rallie.

Actualmente encontra-se, então, nos niveis de há 1 ano atrás.

Acredito que agora entrará num processo de consolidação, com suporte nos 18 USD ....e range 18-20 USD ?

Agradecia as vossas opiniões.

Cumps.

[Alfred E. Neuman]

agradecia comentários, tem vindo a fazer umas velas bonitas nas últimas sessões