Profit Warnings
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MEXICO CITY, May 17- Mexico's annual economic growth slumped in early 2013 to its weakest in three years, prompting the government to cut growth estimates and backing expectations of another interest rate cut.
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ROGERS, Conn.-- Rogers Corp.' s shares fell about 4 percent in after-hours trading Tuesday after the company lowered its second-quarter earnings forecast and unveiled major cost-cutting measures. The company also said Tuesday that it expects to earn between 32 and 43 cents per share for its second quarter, down from its earlier forecast of 45 to 56 cents per share.
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NEW YORK-- Chinese solar panel maker Trina Solar Ltd. on Tuesday cut its estimate for solar module shipments in the quarter that ended in March, sending its shares lower in morning trading. Trina Solar now anticipates shipments of 390 to 400 megawatts, down from a previous forecast of 420 to 430 megawatts.
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*Large economies of Russia, Poland, Turkey lead slowdown. ISTANBUL, May 10- Europe's development bank slashed its 2013 growth forecasts for emerging Europe and North Africa on Friday by almost a full percentage point, saying a sharp slowdown in Russia would drag down the regional economy. "It's really a story of three big countries- Russia, Poland and Turkey.
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BRUSSELS, May 10- ArcelorMittal, the world's largest steelmaker, defied fears of a profit warning on Friday and kept its earnings forecast for this year, helped by deep cost cutting in Europe. The $500- billion- a-year steel industry, a gauge of the global economy, has been hit hard by a drop in demand from austerity-ravaged Europe and signs of slowing growth in China.
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LONDON, May 9- Europe's development bank slashed its 2013 growth forecasts for emerging Europe and North Africa on Friday by almost a full percentage point, saying a sharp slowdown in Russia would drag down the regional economy.
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HONG KONG, May 8- Hong Kong shares were set to start higher on Wednesday, with earnings-driven strength for HSBC Holdings outweighing a 6.6 percent loss for Esprit Holdings after the retailer issued a profit warning. The China Enterprises Index of the top Chinese listings in Hong Kong was indicated to open up 0.9 percent.
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BRUSSELS, May 7- Weak domestic demand and subdued exports are likely to mean a second year without economic growth for Belgium in 2013, the Organisation for Economic Cooperation and Development said on Tuesday in a downgraded forecast.
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OSLO, May 7- Norway lowered its economic growth forecast on Tuesday and predicted lower oil prices for the year, the finance ministry said in its revised budget outlook.
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OSLO, May 7- Norway's government made the following economic forecasts for 2013 and 2014 in its revised 2013 budget proposal on Tuesday. The revised 2013 figures are compared with forecasts from October 2012. It was the first time the government released 2014 forecasts.
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Shares of African Bank Limited plunge more than 14 percent, a day after South Africa's biggest unsecured loans lender flagged as much as 28 percent decline in first-half profit. African Bank, which also runs furniture stores, said shortly after the market closed on Thursday its results were hit by written off loans and slack consumer spending.
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Affin Investment Bank cut its average selling price forecast on Malaysian crude palm oil this year to 2,600 ringgit per tonne from 2,800 ringgit, citing a sluggish price outlook amid high inventory levels and an uncertain global economy.
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LONDON, May 2- Imagination Technologies said annual profit would miss forecasts due to delays in signing licensing deals as some of its chipmaking customers diversify from smartphones and tablets into areas like smart technology for cars.
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Shares in Austrian engineering group Andritz fall 20 percent to an 11- month low after the company warns on profits due to cost overruns at a pulp mill in South America. Andritz shares are down to 39.62 euros by 0829 GMT, making the company worth 1.03 billion euros less than at market close on April 30, the eve of a public holiday in Austria.
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LONDON, May 2- Imagination Technologies Group PLC:. *Several licensing agreements been subject to short term delays, impacting FY. *Now expects adjusted pre-tax profits to be below market expectations.
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LONDON, April 30- Imperial Tobacco said it expects full year earnings per share to be at the lower end of its 4-8 percent target range, as the Davidoff and Gauloises cigarette maker posted a fall in profits amid the difficult European climate.
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Andy Brown, analyst at Panmure Gordon, explains why he keeps his buy stance on Balfour Beatty, despite the company issuing a second profit warning in six months.
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LONDON, April 29- Balfour Beatty:.
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April 24- Communications gear maker Motorola Solutions Inc reported lower-than-expected first-quarter revenue as growth slowed in its government business, and it cut its full-year revenue forecast.
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*First-qtr EPS $0.85 vs $1.04 year earlier. The company now expects total capex of $5.2 billion to $5.7 billion for the year, down from its previous forecast of $5.7 billion to $6.3 billion. The company's net profit fell to $847 million, or 85 cents per share, in the quarter from $1.04 billion, or $1.04 per share, a year earlier.