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Texas Instruments Incorporated latest news:
BRIEF-Brian Crutcher To Become Next CEO Of Texas Instruments
Texas Instruments Inc(TXN): * BRIAN CRUTCHER TO BECOME NEXT CEO OF TI ON JUNE 1 AND CURRENT CEO RICH TEMPLETON CONTINUES AS CHAIRMAN. * Texas Instruments Inc(TXN) - BOARD OF DIRECTORS HAS SELECTED BRIAN CRUTCHER TO BECOME COMPANY'S NEXT PRESIDENT AND CHIEF EXECUTIVE OFFICER Source text for Eikon: Further company coverage:
Texas Instruments names new chief executive
Texas Instruments Inc. said Thursday that Chief Executive Rich Templeton will transition to a chairman role and be replaced by current Chief Operating Officer Brian Crutcher. Templeton has been CEO of TI for 14 years, and will continue in the role until June 1, when Crutcher will take over. "The directors have had a number of years to assess Brian's ability, results and style, and we are highly confident he is TI's next great leader," TI lead director Wayne Sanders said in Thursday's announcement. Crutcher has worked for TI for 22 years, and was promoted to chief operating officer and added to the board of directors last year. The chip maker's stock hit an all-time intraday high of $119.98 Thursday before falling to a daily decline of 2.3% with a close of $116.41. Shares gained about 0.4% in after-hours trading.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
UPDATE 2-Auto chips power Texas Instruments' profit, revenue beat
Oct 24 (Reuters) - Texas Instruments Inc's quarterly
revenue and profit beat estimates as the largest maker of analog
semiconductors continues to benefit from a surge in demand for
its chips from automotive and industrial companies.
Texas Instruments Earnings, Forecast Disappoint Investors
UPDATE 1-Texas Instruments quarterly profit, revenue beat estimates
Oct 24 (Reuters) - Texas Instruments Inc reported a
better-than-expected quarterly revenue and profit on Tuesday as
the largest maker of analog semiconductors continues to benefit
from a surge in demand for its chips from automotive and
Texas Instruments shares slip even after earnings beat
Texas Instruments Inc. shares slipped in the extended session Tuesday even after the chipmaker topped Wall Street estimates for the quarter. Texas Instruments shares declined 0.2% to $96.30 after hours. The company reported third-quarter net income of $1.29 billion, or $1.26 a share, compared with $1.02 billion, or 98 cents a share, in the year-ago period. The $1.26 a share in earnings included a 2-cents-a-share tax benefit. Revenue rose to $4.12 billion from $3.68 billion in the year-ago period. Analysts surveyed by FactSet had estimated earnings of $1.12 a share on revenue of $3.91 billion. For the fourth quarter, Texas Instruments estimates earnings of $1.01 to $1.15 a share on revenue of $3.57 billion to $3.87 billion. Analysts expect earnings of $1.01 a share on revenue of $3.67 billion.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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