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Profit Warnings

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  • July 24- Dunkin' Brands Group Inc cut its full-year forecasts on Thursday, as its U.S. Dunkin' Donuts shops battled fierce competition from fast-food rivals like McDonald's Corp and as high milk prices softened profits from its international Baskin-Robbins ice cream business.

  • July 24- Dunkin' Brands Group Inc reported weaker-than-expected U.S. quarterly same-restaurant sales due in part to a cold and rainy start to the spring season, and cut its full-year adjusted profit and sales forecasts.

  • July 23- Tupperware Brands Corp, known for its colorful food containers, cut its full-year sales and profit forecast, citing lower sales in Europe. The company, whose shares fell as much as 11 percent, also reported lower-than-expected sales for the second quarter ended June 28 due to poor demand in Germany.

  • WASHINGTON, July 23- The International Monetary Fund on Wednesday said it expects the U.S. economy to grow 1.7 percent in 2014, even more slowly than it predicted a month ago, as weakness in the first quarter offsets an expected pick-up in the second half of the year.

  • IMF CUTS U.S. 2014 GROWTH FORECAST TO 1.7 PCT FROM JUNE FORECAST OF 2 PCT DUE TO FIRST-QUARTER GROWTH REVISION.

  • LONDON, July 23- GlaxoSmithKline cut its 2014 earnings outlook after sales fell by a worse-than-expected 13 percent in the second quarter as its all-important lung drugs struggled in the United States and a strong pound took a bite out of growth.

  • GSK cuts earnings forecast after weak 2nd quarter Wednesday, 23 Jul 2014 | 9:28 AM ET

    LONDON— Drug maker GlaxoSmithKline has cut its full-year earnings expectations as it says its second-quarter profits were hit by currency moves and a fall in sales of its respiratory drugs. The company said Wednesday it expects 2014 earnings per share to be broadly similar to last year.

  • UPDATE 2-GSK warns on profits as weak lung drug sales hit Wednesday, 23 Jul 2014 | 9:12 AM ET

    LONDON, July 23- GlaxoSmithKline cut its 2014 earnings outlook after sales fell by a worse-than-expected 13 percent in the second quarter as its all-important lung drugs struggled in the United States and a strong pound took a bite out of growth.

  • *Raises 2014 profit forecast to $10.85- $11.15/ share. July 22- Lockheed Martin Corp, the Pentagon's largest defense supplier, reported a 3.5 percent rise in quarterly profit as higher interest rates lowered its pension liability.

  • July 21- Rent-to-own home furniture retailer Rent-A-Center Inc cut its full-year forecast for revenue and profit, saying it expected demand to remain weak, sending its shares down as much as 2 percent in extended trade. Rival Pier 1 Imports Inc reported lower-than-expected profit for the quarter ended May 31 and cut its full-year profit outlook last month.

  • Rent-A-Center cuts forecast Monday, 21 Jul 2014 | 4:34 PM ET

    July 21- Rent-to-own home furniture retailer Rent-A-Center Inc reduced its full-year forecast for revenue and profit, saying it expected demand to remain soft. Rent-A-Center Inc shares were down 2 percent in extended trading, after the company also reported second-quarter sales and profit in line with the lower-than-expected estimates it gave last week.

  • *To be replaced by Unilever exec Dave Lewis. LONDON, July 21- Tesco is to ditch chief executive Philip Clarke and replace him with a turnaround specialist from Unilever, ending a disastrous three year reign as Britain's biggest retailer warned it would again miss profit forecasts.

  • LONDON, July 21- Britain's biggest retailer Tesco said on Monday its chief executive Philip Clarke would quit, to be replaced by Unilever executive Dave Lewis, after it issued a profit warning.

  • Tesco CEO Clarke to leave after profit warning Monday, 21 Jul 2014 | 2:11 AM ET

    LONDON, July 21- Britain's biggest retailer Tesco said on Monday its chief executive Philip Clarke would quit, to be replaced by Unilever executive Dave Lewis, after it issued a profit warning.

  • ROME, July 18- The Bank of Italy on Friday cut its estimate for 2014 growth to just 0.2 percent and warned that there was significant uncertainty about the outlook for the euro zone's third-largest economy.

  • *Sodexo cuts 2013/ 14 sales growth goal to 2.2-2.5 pct. *Sodexo keeps full-year profit goals. PARIS, July 9- Sodexo, the world's second-biggest catering services company, cut it full-year sales growth forecast on Wednesday, warning its fourth quarter would be weaker than expected due to the delayed start-up of some large contracts.

  • Gigamon cuts revenue forecast, shares fall Tuesday, 8 Jul 2014 | 5:26 PM ET

    July 8- Network traffic management software maker Gigamon Inc cut its second-quarter revenue forecast, citing difficulty in closing deals. The company's shares fell as much as 28 percent to $13.00 in extended trading.

  • "This warning is not entirely surprising given Lufthansa's warning in June for the same reasons and the recent 21 percent decline in Air France-KLM's share price," said Citi Research analyst Andrew Light in a note.

  • *Now sees adj EBITDA at 380- 400 mln eur vs 419 mln in 2013. FRANKFURT, July 1- Shares in Bilfinger slumped on Tuesday after the German engineering and services group issued a profit warning and said it would have to restructure its power business, entailing "significant" job losses.

  • *Now sees adj EBITDA at 380- 400 mln eur vs 419 mln in 2013. Bilfinger said late on Monday that it now expects its 2014 adjusted earnings before interest, tax and amortisation to fall to 380- 400 million euros from 419 million last year. It expects adjusted net profit to drop to 230- 245 million euros, from 255 million euros in 2013..