Semiconductor company Texas Instruments (NYSE: TXN) reported results for the second quarter, and the stock sold off during the after-hours session on Monday. At one point shares were down 11%.

I can sort of see why this happened. It wasn't an exciting earnings release at all, especially in a bad market. First, the top line decreased by about 2% to $3.35 billion. Earnings from continuing operations on a diluted basis grew by only 5% to 42 cents per share. Operational cash flow declined by 42% to $520 million. Nope, not my kind of earnings release, let me tell you. Texas Instruments doesn't seem to have the right stuff in terms of bottom-line growth. Management pointed out that the challenging economy has led to weak demand. Also, let me add that, according to this article, the results missed estimates by two pennies.

I don't really want to own Texas Instruments here. If I had to buy a tech stock, I'd be more inclined to look at a Microsoft (NASDAQ: MSFT) or an Apple (NASDAQ: AAPL). Apple also reported earnings on Monday and saw its shares slide after delivering a much stronger quarter than the one delivered by Texas Instruments. That about says it all, doesn't it?

Disclosure: I don't own any company mentioned; positions can change at any time.

Texas Instruments disappoints Wall Street during the second quarter originally appeared on BloggingStocks on Mon, 21 Jul 2008 20:10:00 EST. Please see our terms for use of feeds.