The company's new outlook follows Monday's news of plans to lay off 191 workers, which will begin in early November and should be completed by the end of January.

Texas Instruments shares declined 72 cents to $35 in the aftermarket session, after rising 50 cents to close at $35.72 in regular trading.

Meanwhile, shares of Globecomm Systems Inc., which provides satellite-based communications products and services, declined after the company forecast fiscal 2008 sales between $190 million and $200 million, while analysts polled by Thomson Financial expect sales of $196 million.

Separately, Globecomm reported a fiscal fourth-quarter profit that more than doubled, helped by higher sales of infrastructure products. Also, sales rose 39 percent to top expectations.

But investors sent shares down 62 cents, or 4.2 percent, to $14.29 in late trading. Earlier, the stock rose 69 cents, or 4.9 percent, to finish at $14.91 in the regular session.

On the rising side, biotechnology company Inhibitex Inc. gained on news that it licensed a group of anti-HIV compounds from the University of Georgia Research Foundation.

Under the terms of the agreement, Inhibitex will select a lead drug candidate from the program and start studies in early 2008.

According to Inhibitex, preclinical studies of the drugs demonstrate that they can be effective against HIV strains, which are resistant to drugs currently being developed.

Shares of Inhibitex jumped 14 cents, or 10.7 percent, to $1.45 in late trading, following a finish at $1.31 in regular trading.