Nokia to rise on rosy Texas Instruments update

HELSINKI, June 9 (Reuters) - Shares in Nokia NOK1V.HE are expected to rise on Tuesday after chip maker Texas Instruments TXN.N said its second-quarter earnings and revenue would beat expectations and cellphone chip sales were above expectations.

“The implication is that Nokia, the large global handset market bellwether, is seeing momentum towards volume recovery on its own competitive merits,” said CCS Insight analyst John Jackson.

TI, which makes chips for everything from cellphones to industrial equipment, said late on Monday it now expects second-quarter earnings per share of 14 cents to 22 cents, and forecast revenue of $2.3 billion to $2.5 billion. [nN08327409]

On average analysts had expected EPS of 12 cents and revenue of $2.21 billion, according to Reuters Estimates.

(Reporting by Tarmo Virki; editing by Mike Nesbit)

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