National Semiconductor (NSM) announced a dividend of ten cents per share while announcing something called an inventory adjustment within its distribution chain. Gross margins also declined, never a good sign for fundamentals. The dividend smells like a bribe.
Don Macleod, National’s chief executive officer while explaining himself also added “…we saw, in aggregate, slower demand from mobile phone customers than we typically see in this seasonally strong, pre-holiday season..” Don that’s not good.
No discussion of markets, products or the real future other than we invest to make tomorrow better. Cat must have managements tongue.
Disclosure: George Gutowski writes from a caveat emptor perspective. I hold no positions in stocks mentioned in this post.