Texas Instruments Pops on Profit & Outlook and 2 Other Hot Stocks to Watch
Texas Instruments Inc. (NYSE:TXN): Current price $38.80
Shares are up more than 4 percent in mid-morning trade on Tuesday, after the chip maker posted higher profit and a stronger-than-anticipated outlook on Monday. The tech firm explained that even in the face of a stalling personal computer market, it has strength in industries such as automotive and industrial. Analyst Cody Acree at Williams Financial wrote, “After a relatively seasonal early-June mid-quarter update, we would characterize TI as a bit more optimistic on its earnings call of broader macro improving demand.”
Regions Financial Corp. (NYSE:RF): Current price $10.26
The number-one bank in Alabama reported that its second-quarter profit fell by 8.8 percent while expenses rose. In a Tuesday statement, Regions said that earnings available to common shareholders dropped to $259 million, or 18 cents a share, compared to $284 million, or 20 cents, year-over-year. A consensus of 27 analysts polled by Bloomberg had estimated per-share earnings of 21 cents. In June, Regions Chief Financial Officer David Turner said that while some regional lenders are getting ready for a decline in mortgage revenue during a period of rising interest rates, Regions’s business would continue to be “strong” for the bank, and that the company is also “relentlessly” concentrating upon expenses. Non-interest expenses jumped 5 percent to $884 million in the second quarter.
MGIC Investment Corp. (NYSE:MTG): Current price $7.43
So far in 2013, the mortgage insurer has raised over$1 billion in capital, rallying after posting its first quarterly profit since 2010. MGIC shares are up almost 10 percent in morning trade on Tuesday, and before that surged by 151 percent year-to-date, as it replaced capital by selling shares and debt. Analyst Jason Stewart at Compass Point Research & Trading wrote in a research note,“We expect profitability metrics at MTG to gradually improve. The primary driver of the earnings beat was a lower incurred loss.”