Earnings Profit Warnings

  • Aug 17- Retail chain Target Corp cut its fiscal-year profit outlook on Wednesday after quarterly sales fell more than expected due to lower demand for electronics and disappointing results in its grocery business. Shares of the sixth-largest U.S. retailer dropped 7 percent to $70.15, erasing their nearly 4 percent gain for 2016.. "It's a very cautious consumer,......

  • The company said it expected same-store sales to be flat to down 2 percent in the second half of the year and cut its full-year profit forecast to between $4.80 and $5.20 per share from a prior range of $5.20 to $5.40. The Minneapolis- based retailer's shares were down 4.9 percent at $71.80 in premarket trading. Net income attributable to the company fell nearly 10...

  • The Minneapolis- based retailer's shares were down 2.6 percent at $73.50 in premarket trading on Wednesday. Target said it expected same-store sales to be flat to down 2 percent in the second half of the year and cut its full-year adjusted profit forecast to $4.80- $5.20 per share from $5.20- $5.40. Net income attributable to the company fell nearly 10 percent to...

  • HANOI, Aug 15- Vietnam's rice exports could fall 27 percent in 2016 from last year to 4.75 million tonnes, the lowest since 2008, due to less overseas demand and rising supplies from Thailand, a state-run newspaper said on Monday. A lack of demand from key markets in Asia and Africa, along with Thailand's sales from state stockpiles would drive the fall, the Vietnam...

  • The Copenhagen- based company fired its CEO in June and replaced him with Soren Skou, head of its Maersk Line container business, indicating it could split it into separate companies and sell off part of the group, including its oil division. In 2018, it will produce only half of what it does today after losing a major contract to operate Qatar's largest offshore...

  • The company, majority owned by French energy giant Total SA, said it now expects to post a loss of $25 million to $175 million. It had earlier forecast to at least break even or a profit of up to $50 million. SunPower cut its full-year revenue forecast to $3 billion to $3.2 billion from $3.2 billion to $3.4 billion and said it expects to deploy fewer projects and...

  • Chief Financial Officer Michael Berry told Reuters that the job cuts were part of a restructuring effort that will reduce annual costs by about $80 million. The whole remediation was more complex "when the company was responding to large numbers of state-sponsored hacks from China, he said. FireEye cut its full-year revenue forecast to $716 million- $728...

  • The company cut its full-year revenue forecast to a range of $716 million to $728 million, down from its previous target of $780 million to $810 million. It reported second-quarter revenue of $175 million, missing its own projection of $178 million to $185 million. Chief Executive Kevin Mandia said that was due to a shift away from previous years where there were...

  • Aug 4- Cybersecurity firm FireEye Inc said it planned to layoff 300 to 400 of its 3,400 workers as it announced quarterly sales on Thursday that missed its own forecast and the company also cut its full-year outlook. Chief Financial Officer Michael Berry told Reuters that the job cuts were part of a restructuring effort that will reduce annual costs by about $80...

  • *Sees stronger yen than pvs f'cast: Y102 vs USD, Y113 vs EUR. Toyota trimmed its forecast from the 1.7 trillion yen given in May, as it revised its budgeted yen rate to 102 versus the U.S. dollar and 113 against the euro from previous forecasts of 105 yen and 120 yen, respectively. A strong yen hurts Toyota and its smaller domestic rivals including Nissan Motor Co and...

  • *Sees stronger yen than pvs f'cast: Y102 vs USD, Y113 vs EUR. TOKYO, Aug 4- Toyota Motor Corp cut its full-year forecast for operating profit, expecting it to fall 44 percent from a year ago as the Japanese automaker expects to take a bigger hit from a stronger yen. The world's largest automaker by market value now expects operating profit to come in at 1.6 trillion yen,...

  • *Shares fall 9 percent to record low of 5.24 euros. Commerzbank's caution follows market concern about its capital position after last week's European Union bank stress tests and shares in Germany's second biggest bank fell 9 percent to a record low of 5.24 euros. The bank, which at that price has a market capitalisation of only 6.6 billion euros, came out near the...

  • *Shares fall 8.5 percent to record low of 5.27 euros. FRANKFURT, Aug 2- Commerzbank warned its earnings would fall this year due to businesses borrowing less and the drag on its revenue from negative interest rates, knocking its shares to a record low. Commerzbank's caution follows market concern about its capital position after last week's European Union bank...

  • HONG KONG, July 31- China's GOME Electrical Appliances Holding issued a profit warning on Sunday, saying first-half profit was likely to plunge year-on-year due to a strategic shake-up which has seen some of its main outlets undergo renovation. In a statement to the Hong Kong stock exchange on Sunday, GOME said it had started to implement a transformation...

  • TOKYO, July 29- The Bank of Japan cut its consumer inflation forecast in a quarterly review of its long-term economic and price forecasts issued on Friday. Following is a table of median forecasts by the BOJ's nine board members. *The GDP, CPI figures take into account the government's decision to delay a scheduled sales tax hike in April 2017.

  • Potash will cut its quarterly dividend to 10 cents per share from 25 cents. Its shares were down 7 percent in New York and Toronto, and the U.S.-listed stock touched a low of $15.84. Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold its Potash position in June.

  • July 28- Harley-Davidson Inc on Thursday said a decrease in total sales and soft domestic demand lowered second-quarter profit and has led the company to trim its forecast for motorcycle shipments in 2016.. While our share gains helped to blunt the full impact of this weak market, lackluster industry sales have had a significant impact on our results and our...

  • Potash plans to cut its quarterly dividend to 10 cents per share from 25 cents. Its shares fell 4.7 percent in New York and Toronto, and the U.S.-listed stock touched a two-week low of $16.32, down 40 percent in the past 12 months. Potash Corp "could sit at the bottom here for another year," said Bryden Teich, portfolio manager at Avenue Investment Management, which sold...

  • July 28- U.S. grains trader Bunge Ltd reported a rise in quarterly profit on Thursday and maintained a forecast for higher full-year earnings, but warned of weakening margins in Brazil and Argentina due to smaller crops and lower prices. "However, in the near term, slow farmer selling in Brazil and Argentina, due to smaller than expected crops and lower prices, are...

  • LONDON, July 28- British travel company Thomas Cook lowered its full-year profit forecast on Thursday as attacks in Europe and the failed coup in the popular destination of Turkey made people change their holiday plans. Europe's travel industry has been hit in recent months as holiday groups and airlines struggled to respond to attacks in France, Belgium and...