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From Briefing.com: 6:01PM Chartered Semi says its Q2 business outlook remains essentially unchanged relative to their expectations in April (CHRT) 6.29 -0.03 : Co updated its Q2 2008 guidance, which was originally provided on April 25, 2008. Co says, "Our business outlook remains essentially unchanged relative to our expectations in April when we provided our guidance for the quarter. Two additional 65 nanometer customers that were expected to enter production this quarter have successfully done so and we continue to expect the momentum at that node to continue into the latter half of the year as more products enter into production. For Q2, we are reiterating our guidance for revenues at the CHRT level and revenues including our share of Silicon Manufacturing Partners. However, we expect our gross profit to be lower by ~$15 mln compared to the mid-point of our prior guidance, due to increased costs. Approximately $9 mln of the cost increase is attributable to a less favorable build-up of work-in-progress inventory, ~$3 mln to higher depreciation in Fab 3E as a result of the valuation exercise that is in progress and ~$2 mln to a weaker US dollar. Despite the lower gross profit we are reiterating our net income guidance due to a tax credit that is expected to offset that decline. Our guidance for average selling prices, utilization and earnings per American Depositary Share remains unchanged."

4:31PM Texas Instruments narrows Q2 guidance to $0.43-0.47 vs $0.46 consensus; revs $3.33-3.46 bln vs $3.37 bln consensus (TXN) 31.33 +0.09 : Co narrows Q2 guidance; sees EPS of $0.43-0.47 vs $0.46 First Call consensus, compared to prior guidance of $0.42-0.48. Co narrows Q2 rev guidance to $3.33-3.46 bln vs $3.37 bln First Call consensus, vs prior guidance of $3.24-3.50 bln. Co sees semiconductor revenue between $3.17-3.28 bln, compared with the prior range of $3.08-3.32 bln; and education technology revenue between $160-180 mln, unchanged from the prior range.

4:25 pm : After a volatile day of trade Monday, the major indices ended the session in mixed fashion. The S&P 500 gained one point, as strength in energy (+2.7%) helped offset weakness in financials (-2.3%).

This result is somewhat disappointing, considering the S&P 500 could only muster a 0.1% gain after falling more than 3% on Friday -- especially taking into consideration that the session's economic data topped expectations and that crude prices posted a steep decline.

Large-cap tech was under pressure, which caused the Nasdaq to fall 0.6%. A better-than-expected same-store sales report from McDonald's (MCD 59.33, +2.38) and speculation that Alcoa (AA 42.17, +2.95) could be a takeover target helped lift the Dow to a 0.6% gain.

Selling interest within financials was fueled by a disappointing earnings preannouncement from Lehman Brothers (LEH 29.62, -2.67). Lehman expects a massive $2.8 billion second quarter loss and plans to raise $6.0 billion in new capital in common and preferred stock offerings -- which is on the high end of previous speculation. The $4.0 billion common stock offering was priced at $28 per share, a 13% discount to Friday's closing price. The firm also priced a $2.0 billion public offering of 2 million shares of 8.75% noncumulative mandatory convertible preferred stock.

The financial sector traded as high as 0.8% in a rebound bid following Friday's decline of roughly 5%, but plummeted to a new five-year low after New York Fed President Geithner said global inflation will probably require tighter policy.

This isn't an earth-shattering revelation since Geithner is simply stating the obvious. Nevertheless, his remarks fit neatly with commentary of late from other Fed officials who are sounding more hawkish about keeping inflation in check than they have in the recent past.

There were some positive items on Monday. Crude oil fell 2.9% to $134.54 as investors took some profits following Friday's 8.4% spike. The dollar gained 0.65% in the wake of hawkish Fed comments, which also played a role in crude's retreat. A Saudi official said the current price of oil is not supported by fundamentals, although OPEC has been expressing this view long before oil hit $100.

In economic news, April pending home sales unexpectedly rose 6.3% on a seasonally adjusted annual rate, according to the National Association of Realtors. Economists expected sales to fall 0.4%.

In corporate news, Honeywell (HON 54.81, +0.80) announced that it signed a definitive agreement to sell its Aerospace Consumable Solutions business to B/E Aerospace (BEAV 29.96, +2.98) for $1.05 billion. Honeywell feels the Consumables Solutions unit no longer fits with Honeywell Aerospace's focus on advanced technologies.

Apple (AAPL 181.61, -4.03) traded in a volatile manner leading up to and following its unveiling of the new iPhone, which is set for release on July 11. AT&T (T 37.56, -0.65), which will remain the exclusive carrier of the phone, got clipped after announcing it expects the phone will pressure its margins and earnings. DJ30 +70.51 NASDAQ -15.10 NQ100 -0.5% R2K -0.7% SP400 -0.1% SP500 +1.08 NASDAQ Dec/Adv/Vol 1952/913/2.13 bln NYSE Dec/Adv/Vol 2004/1111/1.36 bln

2:57PM Apple confirms introduction of MobileMe Internet service (AAPL) 179.47 -6.17 : Co confirmed that it introduced MobileMe, a new Internet service that delivers push email, push contacts and push calendars from the MobileMe service in the "cloud" to native applications on iPhone, iPod touch, Macs and PCs. MobileMe, available on July 11, is a subscription-based service with 20GB of storage for $99 per year for individuals and $149 for a Family Pack, which includes one master account with 20GB of storage and four Family Member accounts with 5GB of storage each.

2:54PM Apple confirms the New iPhone 3G (AAPL) 181.60 -4.09 : Co introduces the iPhone 3G, combining all the features of iPhone with 3G networking, built-in GPS and iPhone 2.0 software. In the US the new iPhone 3G is priced at a $199 for the 8GB model, and $299 for the 16GB model. iPhone 3G will be available in more than 70 countries later this year, beginning with customer availability in 22 countries. iPhone 3G includes the new iPhone 2.0 software.

Bloomberg.com: Via Technologies is cooperating with NVDA to make chips for small-sized desktop computers and mini-notebooks, the com said in an exchange filing after the mkt closed on June 6... WSJ: Six big technology cos are spearheading a plan to jointly license patents that cover the wireless technology called WiMAX hoping to limit royalty rates that could deter customers from using it. The participants are CSCO, INTC, Samsung Electronics, S, ALU and CLWR, according to people familiar with the situation and a document outlining the group's plans.