Texas Instruments (TXN) NewsBite - Texas Instruments Down on NSM Earnings

Friday, September 05, 2008 11:55 AM EDT

Texas Instruments (NYSE: TXN) hit a new 52-Week low of $21.81 so far today. Currently the stock is down $0.14 (-0.62%) to $22.26 on 9,016,929 shares traded. Today's low is down $14.91 from a 52-Week high of $37.17. Texas Instruments stock has been showing support around $21.54 and resistance in the $24.00 range. Technical indicators for the stock are neutral and S&P gives TXN a neutral 3 STARS (out of 5) hold ranking. Texas Instruments shares have been falling after competitor National Semiconductor Corp. (NSM) reported its first-quarter profit fell 7% to $79.6 million due to a higher tax rate, missing estimates. If you are looking for a hedged play on TXN the stock seems like it could be a candidate for an October out-of-the-money bear-call credit spread above the 25 range. [ABR-Seven Summits Strategic Investments NewsBite]

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