By Market News Video Staff, Tuesday, October 26, 11:51 AM ET
After the bell on Monday, Texas Instruments (NASDAQ:TXN) reported solid third quarter results with a net income climbing to $859 million, or 71 cents per share. These results topped Wall Street estimates of 69 cents per share, but the analyst community was disappointed with the company's fourth quarter forecast of 59 to 67 cents per share.
Shares of Texas Instruments were trading lower by about 1.2% this morning and this is weighing on the Semiconductor HOLDRs ETF (SHM) as well. The ETF is down about 0.25% this morning as Texas Instruments accounts for almost 22% of the fund's portfolio. The next largest holding is Intel (NASDAQ:INTC) which reported middle-of-the-road results earlier in the month and accounts for about 21% of the portfolio. And rounding out the top three is Applied Materials (NASDAQ:AMAT) with a 11% position in the Semiconductor HOLDRs ETF.
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