texas instruments inc

UPGRADES: Wachovia Securities upgrades SAIC (NYSE: SAI) to Outperform.

Valuation range between $23-25. Goldman Sachs upgrades Steel Dynamics Inc. (Nasdaq: STLD) from Neutral to Buy. For daily real-time Upgrades go to http://www.streetinsider.com/Upgrades DOWNGRADES: Deutsche Bank downgrades Marvell Technology (Nasdaq: MRVL) from Buy to Hold, saying no near-term upside likely.

Texas Instruments Inc. said Monday its first quarter profit rose 28 percent despite weaker sales of chips for high-end cell phones, but the company offered a cautious outlook for the second quarter due to the slowing economy.

It’s a big day for semiconductor stocks, with an upbeat forecast from chip giant Intel boosting stocks in other semiconductor companies and giving the overall market a nice bounce, as well.

Through mid-morning trading, Intel is up $1, to $22 per share. Other chip companies are following suit . . . -- Texas Instruments Inc. up 38 cents to $29.10 -- Qualcomm Inc., up 74 cents to $41.93 -- Advanced Micro Devices Inc. up 16 cents, or 2.8 percent, to $5.94 Although Intel’s net income fell by 12% for the quarter, thanks to costs incurred in the company’s recent restructuring campaign, the...