Texas Instruments Shows Weakness In Pre-Market Following Quarterly Results

(RTTNews) - Texas Instruments Inc. (TXN | Quote | Chart | News | PowerRating) is continuing to drop during pre-market trading on Tuesday following worse-than-expected quarterly results.

At 9:23 am ET the stock is trading at $24.80 down $3.72 from Monday's close.

With the decline, the stock stands to open below support and at a new multi-year low.

The company reported net income for the second quarter of $588 million, or $0.44 per share, compared to $610 million, or $0.42 per share, for the year-ago quarter.

Revenue for the second quarter declined 25 to $3.35 billion from $3.42 billion in the prior year quarter.

Analysts poled by First Call / Thomson Financial expected the company to earn $0.46 per share on revenue of $3.39 billion for the second quarter.

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