Texas Instruments Inc. shares slid as much as 6.9% after the chipmaker gave a disappointing earnings forecast for the current period, hurt by still-sluggish demand and higher manufacturing costs.

Texas Instruments forecast first-quarter profit below analysts' estimates on Thursday, as the analog chipmaker grapples with an inventory buildup in its key automotive and industrial markets.

The S&P 500 slipped 0.3% on Friday, Jan. 24, 2025, retreating from the prior session's all-time high to close out the holiday-shortened trading week.