Texas Instruments Incorporated (widely known as TI) or TXN in the New York Stock Exchange is a Texas based American company. It was reported yesterday that their $769 million dollars 2010 second quarter profit nearly tripled its earnings a year ago which is $260 million. For those who aren’t familiar with this company, they are the 4th biggest manufacturer of semiconductors, the 2nd biggest supplier of chips for cellular handsets and the biggest producer of digital signal processors world wide. They are also involved in making infrared systems, missiles, military computers and laser guided bombs. As of this year, they were listed number 223 in Fortune 500.
As a result of its good news, the stock price of Texas Instruments during yesterday’s trading session rose by 3.1% to $25.55 unlike Citigroup, where its stock price sharply fell during the release of its positive earnings result last Friday (kindly check here for my post about it). Chart-wise, I’d still consider the stocks to be moving sideways as it has been for 10 months now. It could remain to continue this way, however, if the $25.85 resistance gets breached, the stocks could start trekking north. Once it does, the next resistance could be $27.44. In case TI decides to take its journey down south, the immediate support it could encounter is $24.73. If the stock value slips and slides below that marker, the next support could be the $22.26-22.65 area.