Late Market Roundup (TXN, TIF, WPO)

Shares of Texas Instruments Inc TXN gained about 1.9% after the Standard & Poor's upgraded the long-term corporate credit rating on the company from “A” to “A+” due to the conservative financial policies of the company. The outlook on the company's rating is stable. S&P credit analyst Lucy Patricola said, "The new rating is based on our expectation that TI's modest financial profile will remain intact throughout semiconductor cycles, growth strategies, and initiatives to increase shareholder returns." Shares of Tiffany & Co TIF dropped about 1.8% after analysts at Goldman Sachs and Wall Street Strategies downgraded the company. The company's top shareholder Trian Fund Management has also sold its stake of 1 million shares. The board of Washington Post Co WPO has authorized a repurchase of about 10.4% or 750,000 of its outstanding Class B shares, with around 7.2 million shares outstanding. The company has not announced a ceiling price or a time limit for the repurchase. WPO shares moved up more than 5%. Canadian stocks dropped again for a third day, led by Canada's consumer staples sector. The disappointing European economic data along with the US data also pushed TSX down. The S&P/TSX Composite Index lost about 0.3% to 12,114.6. Read more from Benzinga's Markets.