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Earnings Profit Warnings

  • NAIROBI, April 12- The World Bank cut Kenya's economic growth forecast for this year by half a percentage point on Wednesday to 5.5 percent, citing drought, sluggish private sector credit growth and rising prices of oil. In its latest report on the Kenyan economy, the World Bank said growth would pick up after this year, driven by the expected normalisation of...

  • MELBOURNE, April 6- Australian miner South32 Ltd on Thursday said its Cannington silver and lead mine in the country's northeast had been hit by a fire, forcing it to cut output forecasts. "South32 advises that mining extraction at Cannington has been temporarily impacted by an underground fire that damaged the load-out and shaft haulage infrastructure," the...

  • *Sees 1st- qtr passenger unit revenue to fall 0.5 pct. *Sees 1st- qtr avg fuel price of $1.68- $1.73/ gallon. April 4- Delta Air Lines Inc on Tuesday lowered its forecast for a closely watched revenue measure for the second time in less than a month, citing slower-than-expected improvement in average fares for flights booked at the last minute.

  • April 4- Delta Air Lines Inc on Tuesday lowered its forecast for a closely watched revenue metric, citing slower-than-expected improvement in average fares for flights booked at the last minute. Delta's shares fell as much as 2.2 percent to $45.32 in morning trading. The company said it expects average fuel price of $1.68- $1.73 per gallon in the quarter, down...

  • April 4- Delta Air Lines Inc on Tuesday lowered its forecast for a closely watched revenue metric, citing slower-than-expected improvement in average fares for flights booked at the last minute. The No. 2 U.S. airline said it expects passenger unit revenue- which compares sales to flight capacity- to fall about 0.5 percent in the first quarter ended March.

  • TEL AVIV, March 30- Bank Hapoalim, Israel's largest lender, reported lower quarterly net profit because of one-off items including provisions for a U.S. tax evasion investigation, as well as sharply higher expenses for credit losses. Hapoalim, which issued a profit warning last week, said on Thursday it earned 138 million shekels in the fourth quarter, down from...

  • TEL AVIV, March 30- Bank Hapoalim, Israel's largest lender, reported lower quarterly net profit because of one-off items including provisions for a U.S. tax evasion investigation, as well as sharply higher expenses for credit losses. Hapoalim, which issued a profit warning last week, said on Thursday it earned 138 million shekels in the fourth quarter, down from...

  • LONDON, March 28- British housebuilder Redrow said on Tuesday it did not intend to make an offer to buy fellow builder Bovis just over two weeks after its approach was rejected as too low. Bovis, whose CEO quit in January following a profit warning resulting from a failure to build enough homes on time, has been subject to takeover speculation since a major...

  • BRASILIA, March 22- Brazil's government lowered its estimate for economic growth in 2017 but forecast a stronger recovery next year, a revision likely to lead to budget freezes and tax hikes as the country emerges from its worst recession on record. The Finance Ministry lowered its growth estimate for 2017 to 0.5 percent from 1.0 percent and forecast an...

  • March 22- General Electric Co said it lowered its target for structural costs at its industrial business for this year and the next, after discussions with activist shareholder Nelson Peltz's Trian Fund Management. GE now expects a profit of $17.2 billion. GE cut its outlook for 2017 industrial structural costs- selling, general and administrative costs,...

  • PARIS, March 15- Pressure on France's Safran to rethink its proposed $9 billion takeover of Zodiac Aerospace intensified on Wednesday as a profit warning sent the target's shares tumbling and hedge fund TCI called for Safran's chairman to be ousted unless it abandons the deal. Zodiac shares were down 16 percent at 23.07 euros by 1259 GMT, well below Safran's...

  • PARIS, March 15- Shares in Zodiac Aerospace, which rival Safran is planning to buy, slumped on Wednesday after it issued a new profit warning. The supplier of aircraft interiors shares were down 14.8 percent at 23.41 euros by 0807 GMT, below Safran's offer price of 29.47 euros. Zodiac disclosed late on March 14 new cost overruns and slashed its earnings guidance,...

  • *Petronas says oil prices to remain uncertain this year. KUALA LUMPUR, March 14- Malaysia's Petroliam Nasional Bhd warned on Tuesday of a cautious outlook for 2017, although sharp cutbacks in expenses by the state-run oil major allowed it to swing to a fourth-quarter profit from a loss in the year-ago period. Malaysia relies on its only Fortune 500 company for...

  • March 6- Delta Air Lines Inc on Monday cut its operating margin forecast for the current quarter, citing higher costs, and said it expected passenger unit revenue, a closely watched revenue metric, to be at the lower end of its forecast. Delta Air now expects operating margins to increase about 10-11 percent, less than 11-13 percent rise it had previously forecast.

  • The company's shares were down 6.7 percent at $23 in after-market trading on Thursday. "I think is a combination of increased pressure from foreign exchange movements as well as a highly competitive environment," Edward Jones analyst Bill Kreher said. HPE said it expected full-year adjusted profit of between $1.88- $1.98 per share, down from the $2- $2.10 per...

  • HPE said it expected full-year adjusted profit of between $1.88- $1.98 per share, down from $2- $2.10 it forecast earlier. The Palo Alto, California- based company, which has been struggling with sluggish demand for its servers and storage equipment, forecast current-quarter adjusted profit in the range of 41 cents- 45 cents per share. Revenue from its enterprise...

  • LONDON, Feb 16- British engineer Cobham said it would have to take drastic action to turn around its fortunes after cutting its profit forecast for the fifth time in 15 months and warning 2017 could get even worse, wiping as much as a fifth off its market value. "Investors are ditching the stock as it looks like the problems at Cobham go further than anyone realised,"...

  • Feb 8- Whole Foods Market Inc on Wednesday said it is closing some stores and increasing use of customer data to improve results after cutting its full-year sales and profit forecasts after posting its sixth straight quarter of same-store sales declines. Shares in the organic and natural food grocer were down 2.1 percent in extended trading.

  • It cut its profit forecast for the year to $1.33 per share or greater, from its previous view of $1.42 or greater. Whole Foods has also been streamlining management, with co-founder John Mackey taking over as sole chief executive after Walter Robb, who had split CEO duties with Mackey for six years, stepped down last year. Net income fell to $95 million, or 30 cents per...

  • Whole Foods' shares fell 3.2 percent to $28.35 in trading after the bell on Wednesday. It cut its profit forecast for the year to $1.33 per share or greater, from its previous view of $1.42 or greater. Whole Foods has also been streamlining its management, with co-founder John Mackey taking over as sole chief executive after Walter Robb, who had split CEO duties with...