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TECHNOLOGY
TI expected to raise Q1 guidance
Goldman Sachs said a "bullish" presentation by electronics conglomerate Texas Instruments portends a higher earnings forecast at Monday's midquarter update. "TI management was adamant that the Street has been wrong to sell their stock recently," it said in a note to its clients. Nevertheless, Goldman Sachs affirmed its underperform rating, citing concerns about profit margins. TI jumped 8% to 32.18.
** Chip stocks surged on several positive comments from several brokerages. Altera climbed 5.5% to 21.18, National Semiconductor rose 5% to 29.47 and chipmaking equipment manufacturer Novellus Systems surged 4% to 27.77.
AOL spam fee riles public groups
The Internet portal, a unit of Time Warner, vowed to institute a controversial e-mail policy that will allow mass mailers who pay a fee to bypass security measures. Critics contend the move will block e-mails from legitimate groups that can't afford the fee while allowing access to spammers willing to pay the fees. Time rose 0.5% to 17.41.
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