Hotfire,
It has been well documented that TXN was on track to release a reserves statement in March (or there-abouts), and i do not see how the current announcement surprised on the upside.
If you think that the average fund manager was not previously pricing in this announcement then I feel you seriously underestimate them, and trust me I'm not at all saying that they're stock market geniuses........
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reserves, page-19
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