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Though Q2 earnings for Texas Instruments (NYSE:TXN) are mostly in line with what was expected by analysts, the company’s forecast for Q3 is off market expectations in the light of “increasingly cautious” customers wary of placing new orders in a weak economic environment. Q3 non-GAAP EPS is guided around $0.41-$0.49 which is short of analysts’ views of $0.50 per share.
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An experimental Alzheimer’s treatment, bapineuzumab, being developed jointly by Pfizer (NYSE:PFE) with Johnson & Johnson (NYSE:JNJ) unit Janssen Pharmaceuticals, failed to meet clinical parameters in a late-stage study. The drug injected intravenously in patients suffering from mild-to-moderate Alzheimer’s disease, did not show better results than those from a placebo. Shares of Elan (NYSE:ELN) are down on the news, considering it holds 49.9 percent in Janssen Alzheimer Immunotherapy.
In another investment going bust for Qualcomm (NASDAQ:QCOM), the company is discontinuing production of its Mirasol color e-ink displays, and will instead license its technology to other parties. Other failures include Globalstar, FLO TV, and Indian 4G spectrum.
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