Texas Instruments Gains After Forecast Shows Recovery From Slump
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Texas Instruments Inc. shares climbed as much as 8.5% after the chipmaker gave a better-than-anticipated forecast, indicating that long-sluggish demand for industrial and automotive components is improving.
Revenue will be $4.17 billion to $4.53 billion in the second quarter, the company said in a statement. That handily exceeded the average Wall Street estimate of $4.12 billion. The shares rose as high as $165 in New York trading Thursday, marking the biggest intraday gain in more than two weeks.