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Profit Warnings

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  • US, German drugmakers team up on cancer medicines Monday, 17 Nov 2014 | 1:47 PM ET

    Under their agreement, New York- based Pfizer will pay Merck KGaA $850 million initially and up to $2 billion total, based on how many drugs are approved and future revenue levels. Pfizer said it will take a charge for the $850 million payment, cutting into profit this year, so it's lowered its 2014 earnings forecast by a dime, to a range of $1.40 to $1.49 per share.

  • UPDATE 2-Plug Power cuts FY forecast, shares plummet Wednesday, 12 Nov 2014 | 12:34 PM ET

    Nov 12- Fuel cell maker Plug Power Inc cut its full-year revenue forecast, citing program delays and weaker-than-expected sales for its ReliOn business, sending its shares down as much as 17 percent. Plug Power cut its 2014 revenue forecast to a range of $70 million to $75 million from its earlier view of $75 million. Plug Power's total cost of revenue more than...

  • *Sees $95 oil price next year followed by decline. MOSCOW, Nov 10- Russia faces the prospect of three years of economic stagnation, the central bank predicted on Monday, underscoring the heavy costs of President Vladimir Putin's Ukraine policies and of Russia's dependence on fragile oil prices. In an annual monetary policy strategy document, the bank slashed its...

  • TOKYO, Nov 10- Japanese stocks fell to a one-week low on Monday as the yen rebounded against the dollar after U.S. jobs data fell short of expectations, while Nippon Telegraph and Telephone Corp tumbled on a profit warning. The benchmark Nikkei share average ended 0.6 percent lower at 16,780.53, the lowest closing level since Oct. 31. The broader Topix shed 0.3...

  • Nov 7- General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, cut its full-year sales and profit growth forecast, blaming weak demand in the United States and slowing growth in its key emerging markets. General Mills' sales in recent quarters have been hit by intense competition from private-label brands and new breakfast options such as...

  • Nov 7- General Mills Inc, the maker of Cheerios cereal and Betty Crocker cake mixes, cut its full-year sales and profit growth forecast, blaming weak demand in the United States and slowing growth in its key emerging markets. Shares of the company fell 3.6 percent in early trading. General Mills said it expects net sales for the year ending May to grow at a low single...

  • Nov 6- Salix Pharmaceuticals Ltd slashed its full-year forecast and said inventory for its key drugs piled up, sending its shares down nearly 36 percent after the bell. Inventory as of Sept. 30 was $155 million, up about 50 percent since the beginning of the year. The company also reported a net loss of $88.6 million, or $1.39 per share, for the third quarter ended Sept....

  • UPDATE 2-Nu Skin cuts forecast, denies SEC probe Wednesday, 5 Nov 2014 | 2:14 PM ET

    Nov 5- Nu Skin Enterprises Inc cut its profit and sales forecast for the current quarter as a strong dollar compounds troubles in China, and it denied a report that it faces a U.S. regulatory investigation. "To our knowledge, the SEC has not opened a formal investigation nor made any request for the production of documents," Nu Skin Chief Executive Truman Hunt said on a...

  • UPDATE 1-Nu Skin cuts forecast, blames stronger dollar Wednesday, 5 Nov 2014 | 9:42 AM ET

    Nov 5- Nu Skin Enterprises Inc cut its current-quarter profit and sales forecast as a strong dollar compounds its troubles in China, its biggest market. Nu Skin was forced to suspend distributor recruitment drives in China in January after regulators said they were investigating the company over allegations that it was running an illegal pyramid scheme.

  • Nov 5- 3 D printer maker Stratasys Ltd cut its profit forecast for 2014, citing its recent acquisition of computer-aided design systems developer GrabCAD and ongoing development costs. Stratasys's shares were down 7.7 percent in premarket trading on Wednesday as investors shrugged off the company's better-than-expected third-quarter revenue and...

  • TOKYO, Nov 5- Japanese stocks stepped back on Wednesday morning as heavyweight Softbank tumbled after slashing its profit forecast, while the broader market took a breather after outsized gains inspired by a fresh stimulus drive by the Bank of Japan. We're seeing investors taking profits this morning, "said Takashi Hiroki, chief strategist at Monex in Tokyo.

  • *Cuts FY revenue forecast to $3.27 bln- $3.30 bln. Nov 4- Time Inc, which publishes Sports Illustrated, Time and People magazines, cut its full-year revenue forecast for the second time, hurt by falling circulation and weak print advertising. "Supply of advertising online continues to grow and it's really a function of explosive growth in mobile and social media...

  • Nov 4- Discovery Communications Inc, owner of cable channels such as Animal Planet and Discovery Channel, cut its full-year revenue and profit forecasts, citing a strong dollar, weaker U.S. ratings and tensions between Russia and the West. Discovery gets more than half its revenue from its international networks, with about 2 percent of the total coming from...

  • Nov 4- U.S. cosmetics company Estee Lauder Cos Inc cut its full-year profit and sales growth forecast, hurt by weak demand in its key markets, sending its shares down 4 percent in premarket trading. It was also monitoring the effects of certain global uncertainties on its business, including increased sanctions against Russia, Estee Lauder said.

  • Nov 4- Regeneron Pharmaceuticals Inc cut the top end of its full-year sales forecast for its blockbuster eye drug and reported a lower-than-expected adjusted quarterly profit, citing higher costs. Regeneron's net profit fell to $79.7 million, or 70 cents per share, in the third quarter ended Sept. 30 from $141.3 million, or $1.25 per share, a year earlier.

  • Nov 4- Time Inc, publisher of Sports Illustrated, Time and People, cut its full-year revenue forecast for the second time as revenue from print advertising falls steadily. The company, spun off from Time Warner Inc in June, lowered its revenue forecast to $3.27 billion- $3.30 billion from $3.30 billion- $3.37 billion. Time's profit fell to $48 million, or 44 cents per...

  • BRUSSELS, Nov 4- The fragile euro zone will need another year to reach even a modest level of economic growth, the European Commission said on Tuesday, revising down its forecasts and predicting more of the low inflation and high joblessness that plagues the bloc. The delay in the upturn was due to drag on the economy from France and Italy. While the bloc's hangover...

  • *Rheinmetall cuts guidance a second time in three months. FRANKFURT, Nov 3- Rheinmetall cut its 2014 earnings forecast for a second time as its strong automotive business fails to offset cost overruns and lower margins at its defence division, pushing its shares close to a three-year low. Rheinmetall had already cut its 2014 earnings forecast in August, after the...

  • Oct 31- MoneyGram International Inc, the world's second-largest money transfer company, cut prices for transfers within the United States as it loses business to Wal-Mart Stores Inc's new rival service. Wal-Mart was MoneyGram's largest agent in the United States until the world's largest retailer launched its own money transfer service in April.

  • Oct 31- MoneyGram International Inc, the world's second-largest money transfer company, said it would cut prices for transfers within the United States due to rising competition, and withdrew its forecast for the year.