Texas Instruments Posts Higher Profit

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Texas Instruments (TXN ) posted second quarter earnings per share of 38 cents, vs. 25 cents one year earlier, as higher gross profit and a 6-cent tax benefit offset flat revenue. The company sees third quarter earnings per share of 31 cents to 35 cents on $3.29 billion to $3.56 billion in revenue. The company will raise its dividend 20%; it also set a $2 billion stock buyback. S&P reiterates hold.

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