While most of the markets cheered Friday's better-than-expected inflation report, Texas Instruments Inc (NASDAQ:TXN) is singing a different tune. Unlike so many other tech peers, TXN stock found itself down roughly 2% during Friday's afternoon session. In the trailing month, it's down more than 8%. Blame softened expectations for the decline.
For the third quarter, Texas Instruments generated revenue of $4.74 billion, beating the consensus view of $4.65 billion. However, on the bottom line, earnings of $1.48 per share narrowly missed expectations calling for $1.49 per share. What really seemed to drag on sentiment for TXN stock, though, was the forward guidance.
