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Shares of Texas Instruments (NYSE:TXN) dropped 1 percent in late afternoon hours. The company lowered its third-quarter outlook on earnings and revenue. It now expects to earn 51 cents to 55 cents per share, down from 49 cents to 57 cents. Meanwhile, revenue is projected to come in the range of $3.15 billion to $3.29 billion, compared to the previous range of $3.09 billion to $3.35 billion.


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