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Profit Warnings

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  • 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..

  • June 26- Chemicals maker DuPont cut its operating profit forecast for the second quarter and the full year, saying sales in its agriculture and performance chemicals units increased at a slower pace than it had expected. DuPont has been focusing on its agriculture business, its biggest, for the past few quarters.

  • LONDON, June 26- Standard Chartered warned profits would fall in 2014 for the second year in a row after first-half earnings dropped by a fifth due to tougher regulations and low market volatility in its trading business.

  • June 26- Cigarette maker Philip Morris International Inc cut its earnings forecast for 2014 and said it is proving to be a "complex and truly atypical" year for the company.

  • LONDON, June 26- Standard Chartered on Thursday warned of lower profits this year after a 20 percent slump in first-half earnings, as tougher regulations and low market volatility hit its trading business.

  • June 26- Cigarette and tobacco company Philip Morris International Inc cut its 2014 earnings forecast saying it is proving to be a "complex and truly atypical" year for the company. The Marlboro cigarettes maker now expects to earn $4.87- $4.97 per share, lower than the $5.09- $5.19 per share it expected earlier.

  • June 19- Drugstore operator Rite Aid Corp said higher drug costs and a fall in reimbursement rates would continue into the second quarter, sending it shares down 4.4 percent. Rite Aid's shares have been on a tear for most of the past year, until the company warned on first-quarter profit and cut its full-year earnings forecast earlier this month.

  • FOREX-Dollar slips as Fed cuts U.S. growth forecast Wednesday, 18 Jun 2014 | 3:42 PM ET

    NEW YORK, June 18- The dollar retreated against the euro and the yen on Wednesday as the Federal Reserve struck a dovish tone in its post-meeting statement, slashing its forecast for economic growth and suggesting long-term rates could be lower than previously indicated. said Mark McCormick, currency strategist at Credit Agricole in New York. "

  • WASHINGTON, June 18- The Federal Reserve on Wednesday slashed its forecast for U.S. economic growth this year but expressed confidence the recovery was largely on track and would allow it to begin raising interest rates in 2015..

  • UPDATE 2-Private brands business hurts ConAgra's profit Wednesday, 18 Jun 2014 | 11:45 AM ET

    June 18- ConAgra Foods Inc warned that its adjusted fourth-quarter profit would be lower than its forecast, as the company struggles with its big push into private-label foods and sales fall in its consumer foods business. The company's shares fell as much as 7.4 percent to $30.41 on the New York Stock Exchange on Wednesday.

  • BANGKOK, June 18- Thailand's central bank cut this year's growth forecast nearly by half to 1.5 percent but sees a much brighter 2015 as the new military government tries to reinvigorate the economy after prolonged political turmoil.

  • BANGKOK, June 18- Thailand's central bank left its key interest rate unchanged on Wednesday, as expected, and cut its economic growth forecast for 2014 nearly by half to 1.5 percent.

  • GROWTH FORECAST TO 2 PCT FOR 2014 FROM APRIL FORECAST OF 2.8 PCT, DUE TO WEAK FIRST QUARTER.

  • *Bank of America shares biggest drag on S&P 500. *World Bank cuts global 2014 outlook. NEW YORK, June 11- U.S. stocks fell on Wednesday, with the Dow breaking a four-day string of record closing highs, following the World Bank's reduction of its global growth forecast.