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From Briefing.com: 6:37PM Teradyne beats by $0.01, reports revs in-line; guides Q2 EPS in-line, revs above consensus (TER) 12.28 -0.30 : Reports Q1 (Mar) earnings of $0.12 per share, excluding non-recurring items, $0.01 better than the First Call consensus of $0.11; revenues rose 14.2% year/year to $297.3 mln vs the $295.6 mln consensus. Co issues guidance for Q2, sees EPS of $0.14-0.19, excluding non-recurring items, vs. $0.14 consensus; sees Q2 revs of $310-330 mln vs. $301.58 mln consensus.

5:00PM Rambus announces IBM to license multi-protocol SerDes (RMBS) 23.19 +0.65 : Co announces that IBM has licensed RMBS' multi-protocol SerDes (Serial/Deserializer) cell designed for advanced networking, server and general ASIC applications. This sophisticated multi-protocol SerDes cell provides IBM with a high-performance and low-power solution for implementation on its 45nm silicon-on-insulator technology. The RMBS multi-protocol SerDes is a single IP cell leveraging a scalable architecture that offers data rates of 1.25 Gbps to 6.4 Gbps.

4:42PM Silicon Image beats by $0.02, beats on revs; guides Q2 revs in-line; guides FY08 revs in-line (SIMG) 5.15 -0.09 : Reports Q1 (Mar) earnings of $0.04 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.02; revenues fell 21.3% year/year to $67.1 mln vs the $61.9 mln consensus. Co issues in-line guidance for Q2, sees Q2 revs of $66-68 vs. $66.84 mln consensus. Co issues in-line guidance for FY08, sees FY08 revs of $270-290 mln vs. $276.69 mln consensus.

4:36PM Skyworks beats by $0.01, beats on revs; guides Q3 EPS above consensus, revs above consensus (SWKS) 7.37 +0.06 : Reports Q2 (Mar) earnings of $0.16 per share, $0.01 better than the First Call consensus of $0.15; revenues rose 11.9% year/year to $201.7 mln vs the $199.5 mln consensus. Co issues upside guidance for Q3, sees EPS of $0.17 vs. $0.16 consensus; sees Q3 revs of $210 vs. $207.53 mln consensus.

4:21PM Cree beats by $0.03, beats on revs; guides Q4 EPS in-line, revs in-line (CREE) 31.06 -0.71 : Reports Q3 (Mar) earnings of $0.14 per share, excluding non-recurring items, $0.03 better than the First Call consensus of $0.11; revenues rose 38.4% year/year to $125 mln vs the $122.2 mln consensus. Co issues in-line guidance for Q4, sees EPS of $0.12-0.14 vs. $0.13 consensus; sees Q4 revs of $129-133 vs. $128.26 mln consensus. "Targeted non-GAAP earnings exclude expenses related to the amortization of acquired intangibles of $3.6 million, net of tax, and stock-based compensation expense of $3.6 million, net of tax."

4:14PM Anadigics beats by $0.05, beats on revs; guides Q2 EPS above consensus, revs above consensus (ANAD) 8.33 -0.17 : Reports Q1 (Mar) earnings of $0.15 per share, $0.05 better than the First Call consensus of $0.10; revenues rose 50.1% year/year to $74.4 mln vs the $69.2 mln consensus. Co issues upside guidance for Q2, sees EPS of $0.16-0.17 vs. $0.13 consensus; sees Q2 revs of $77-79 mln vs. $72.96 mln consensus.

4:04PM Molex beats by $0.02, misses on revs; guides Q4 EPS in-line, revs in-line (MOLX) 24.79 -0.47 : Reports Q3 (Mar) earnings of $0.37 per share, excluding non-recurring items, $0.02 better than the First Call consensus of $0.35; revenues rose 1.9% year/year to $822.3 mln vs the $838.5 mln consensus. Co issues in-line guidance for Q4 (Jun), sees EPS of $0.39-0.43, excluding non-recurring items, vs. $0.41 consensus; sees Q4 revs of $850-890 mln vs. $871.6 mln consensus.

4:02PM CalAmp sees Q4 revs of $29.8 mln vs $30.1 mln single analyst est, EPS of ($0.09) to ($0.12) vs ($0.04) single analyst est (CAMP) 2.60 +0.00 : Co issues downside guidance for Q4 (Feb), sees EPS of (0.09) to ($0.12) vs. ($0.04) First Call consensus compared to previous guidance of ($0.01) to ($0.05); sees Q4 (Feb) revs of 29.8 mln vs. $30.10 mln consensus. Which is within the previously provided revenues guidance range of $29 to $33 mln. Commenting on the co's preliminary fourth quarter results, Rick Gold, CalAmp's President and Chief Executive Officer, said, "Despite the fact that the preliminary fourth quarter loss was greater than our original projections, our revenue was within the guidance range and we generated positive operating cash flow during the quarter. We ended the fourth quarter with a cash balance of $6.6 million, which is an increase of $1.5 million on a sequential quarter basis. We also finalized an amendment of our credit agreement with our lenders. As a result we can now move forward into Fiscal 2009 with enhanced financial flexibility as we execute our strategy to return CalAmp to profitability."

4:15 pm : The major indices finished with sharp losses on Tuesday. A bearish bias prevailed throughout the session after traders were disappointed by earnings reports at several notable companies. Meanwhile, crude oil and the Commodity Index spiked to lifetime highs, which did not help matters.

Texas Instruments (TXN 28.82, -1.77) reported earnings grew by a strong 19%, which met analysts expectations. However, its stock got clipped after the company provided a disappointing outlook. Because of uncertainty regarding the near-term economic outlook, the company expects to earn between $0.42 and $0.48 per share in the second quarter. This falls well short of the expected earnings of $0.48 per share.

TI's dour outlook was taken as bearish signal regarding large-cap tech stocks, with the Nasdaq 100 shedding -1.6%. Semiconductors took the brunt of the selling pressure, as the SOX fell 3.3%.

Tech was not the only area under pressure. Healthcare stocks posted a decline of 1.3%. Shares of health insurer UnitedHealth Group (UNH 34.15, -3.66) declined nearly 10% to a fresh 52-week low, bringing its four-month slide to a total of 42%. The company reported earnings that fell short of estimates, and lowered its full year 2008 guidance.

CME Group (CME 483.50, -40.00), operator of the Chicago Mercantile Exchange, faced notable selling interest, with shares falling roughly 8%. The company reported revenue rose 25% and earnings of $4.67 per share. However, that was not enough to meet the consensus estimate that pegged revenue growth at 26% and earnings of $4.80 per share.

The Amex Airline Index (-12.3%) got hammered and hit a fresh 52-week low after UAL Corp (UAUA 13.55, -7.88) reported disappointing earnings. The operator of United Airlines reported a quarterly loss of $4.45 per share, compared to the expected loss of $3.41. Also not helping things, crude hit a fresh all-time high of $119.90 per barrel on supply concerns in Nigeria and reports of a worker strike in the United Kingdom. The gains in crude helped send the CRB Commodity Index (+1.6%) to its all-time high.

Not every company reported worse than expected earnings -- although buying interest was held in check on some cautious outlooks. Dow components McDonald's (MCD 58.35, -0.32) and DuPont (DD 50.16, -2.09) topped their earnings estimates, while AT&T (T 37.81, +0.22) met expectations. In addition, Coach (COH 31.70, -0.80), Wyeth (WYE 43.99, -0.22) and Kimberly Clark (KMB 64.37, +0.34) came out ahead of their respective consensus estimates.

Economic data were light this session, with only one notable release. The market saw a modest boost following the March existing home sales report, but quickly retreated to predata levels as the data were largely in-line with expectations. March existing home sales fell 2.0% to an annualized rate of 4.93 million from the prior reading of 5.03 million. This was slightly better than the expected reading of 4.92 million. Compared to last year, sales are down 19.3%. Prices have fallen 7.7% versus last year. Housing remains in a deep slump, but the rate of decline has slowed in recent months.

In the end, eight of the ten sectors posted a loss. Consumer discretionary (-1.7%) and materials (-1.4%) posted the largest losses. Energy (+0.2%) and telecom (+0.2%) outperformed on a relative basis.DJ30 -104.79 NASDAQ -31.10 NQ100 -1.6% R2K -2.0% SP400 -1.4% SP500 -12.23 NASDAQ Dec/Adv/Vol 2185/705/1.93 bln NYSE Dec/Adv/Vol 2250/882/1.33 bln

1:40PM Rambus confirms DC circuit court overturns federal trade commission orders in Rambus case (RMBS) 23.42 +0.88 : Co confirms that the US Court of Appeals for the DC Circuit has overturned the Federal Trade Commission's decisions regarding Rambus, and remanded the matter back to the FTC for further proceedings consistent with the Court's opinion.

7:42AM KVH Industries beats by $0.01, misses on revs; guides FY08 EPS in-line (KVHI) 8.46 : Reports Q1 (Mar) earnings of $0.11 per share, $0.01 better than the First Call consensus of $0.10; revenues rose 13.3% year/year to $23.1 mln vs the $23.9 mln consensus. Co issues in-line guidance for FY08, sees EPS of $0.36-0.44 vs. $0.39 consensus. Sees revenue growth of 14-23% y/y.

09:19 am Qimonda: . Target $4.5 to $2. Caris says QI demonstrated that it still has the ability to surprise investors, as rev and EPS came in well below expectations, and downbeat mgmt commentary left firm even more bearish than before. QI is now shedding market share in an effort to remain solvent; quite frankly, firm sees the future of the co as in doubt. Firm cuts their tgt to $2 from prior $4.50, which reflects their est for net cash at the end of the June quarter.

09:15 am First Solar: . Target $300 to $450. AmTech is expecting FSLR to report a strong 1Q08 of in-line to better than expected results and give healthy guidance for FY08 in-line with the robust demand the company is seeing. Given that the stock is up significantly since prior to last earnings call (75%), the near-term trade this quarter is difficult to gauge. Despite the near-term price action, however, firm believes current levels represent an attractive long-term entry point. Firm moves their valuation window out to 45x their 2010 EPS est of $9.90 to reach their new $450 tgt (up from $300), a multiple they believe is warranted given FSLR's visibility into end customer demand and internal capacity additions vs. its peers when coupled with projected growth rates.

10:05 am Texas Instruments (TXN)

A tepid earnings forecast from Texas Instruments (TXN 29.08, -1.51) has prompted market participants to shun shares of the semiconductor company in Tuesday's trading.

Texas Instruments reported after Monday's close revenues totaled $3.27 billion for its first quarter of fiscal 2008. That marks a 3% increase year-over-year and meets analysts' expectations. The overall gain in revenues was helped by 20% annual growth in high-performance analog semiconductors. Management stated that analog represents a great growth opportunity for a very long time, given its requirement in electronic equipment.

Operating profits climbed at a healthier clip than revenues. Year-over-year operating profits increased 19% to $807 million.

Earnings, on a per share basis, totaled $0.43 per share, which matched analysts' consensus forecast. Earnings for the quarter were up from $0.35 per share the year before.

Uncertainty surrounding the near-term economic outlook has prompted management to take a more conservative outlook for the second quarter. Revenues are expected to range from $3.24 billion to $3.50 billion, while earnings are expected to range from $0.42 per share to $0.48 per share. Analysts were calling for second quarter sales of $3.44 billion and earnings of $0.48 per share.

Since management's meek earnings outlook leaves room to fall short of the consensus profit forecast, market participants are pushing shares of TXN lower in today's trading. The stock is currently down almost 5% this session.