Texas Instruments issues weak quarterly forecast

Texas Instruments, the world's largest analog chipmaker, issued a weak quarterly forecast, exacerbating concerns about a faltering recovery in the semiconductor industry. The company reported profit of $1.36 billion, roughly flat with the same period last year. Revenue rose 14% to $4.74 billion, beating analysts' forecast of $4.65 billion. However, the company projected fourth-quarter revenue of between $4.22 billion and $4.58 billion, below analysts' expectations.