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| Monday, June 19, 2006 |
Texas Instruments Edges Up, but Intel and AMD Fall in Afternoon Trading
NEW YORK -- Semiconductor stocks were a mixed bag Monday, as shares of Texas Instruments Inc. rose 38 cents to $29.94 in afternoon trading on the New York Stock Exchange, but shares of sector heavyweights Intel and AMD declined.
Cell phone maker Nokia Corp., one of Texas Instruments' biggest customers, on Monday said it would merge its network equipment unit with Siemens AG's unit in a $30 billion joint venture.
Elsewhere in the sector, shares of Phoenix-based On Semiconductor Corp., a designer of semiconductor components, were up 14 cents at $5.74 on the Nasdaq.
Intel stock rose earlier in the session as UBS analyst Thomas Thornhill lifted his rating on the stock to "Buy" from "Neutral" based on positive trends for gross margins and operating margins. But the stock was down 3 cents to $18.27 by late afternoon.
Shares of Intel rival Advanced Micro Devices Inc. were down 61 cents, or 2.4 percent, at $25.03 on the New York Stock Exchange.
Freescale Semiconductor Inc., which supplies semiconductors to cell phone maker Motorola Inc., saw shares drop 32 cents to $27.83 on the New York Stock Exchange. |
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