Earnings Profit Warnings

  • LONDON, Nov 23- Britain has cut its official forecasts for economic growth for the next two years, finance minister Philip Hammond said on Wednesday as he delivered the country's first budget statement since voters decided to leave the European Union. The Office for Budget Responsibility forecast gross domestic product would grow by 1.4 percent in 2017, down...

  • Nov 22- Medtronic Plc on Tuesday reported quarterly sales below Wall Street's expectations for virtually all its major product lines and cut its full-year earnings forecast, and the medical device maker's shares fell more than 8 percent. Medtronic now expects adjusted earnings of $4.55 to $4.60 per share for the fiscal year ending April 28, 2017, down from its...

  • BRASILIA, Nov 21- Brazil's government lowered its forecast for economic growth in 2017 to 1.0 percent from 1.6 percent, echoing recent market pessimism as the country struggles to exit its worst recession in at least eight decades. Brazil's economy is expected to return to growth in the first quarter of 2017, Fabio Kanczuk, the finance ministry's secretary of...

  • Nov 17- Ford Motor Co on Thursday lowered the 2017 pretax profit forecast for its financial services arm by $300 million due to lower auction values for used vehicles in the United States. In September, Ford lowered its forecast for pretax profit this year by $600 million to $10.2 billion. Bob Shanks, Ford's chief financial officer, told industry analysts in New...

  • Nov 17- Ford Motor Co on Thursday lowered the 2017 pretax profit forecast for its financial services arm by $300 million to about $1.5 billion, citing 27 risk factors in a securities filing. In 27 bullet points outlined in a filing with the Securities and Exchange Commission, Ford said its products are receiving "lower-than-anticipated market acceptance,"...

  • Nov 17- Ford Motor Co said on Thursday it had cut the 2017 pretax profit forecast for its Ford Credit financial services arm. The company said it now expected Ford Credit to record a pretax profit of about $1.5 billion in 2017, down about $300 million from its prior estimate, due to lower auction values. Ford said it expected its core automotive business to improve...

  • "We lowered prices and consumers responded," Executive Chairman Galen Weston said in a statement. Loblaw, which sells everything from grocery to wireless mobile products, said revenue climbed 1.4 percent to C $14.14 billion in the third quarter ended Oct. 8, edging past the average analyst estimate of C $14.12 billion, according to Thomson Reuters I/B/E/S.

  • Nov 16- Lowe's Cos Inc, the No. 2 U.S. home improvement chain, reported third-quarter profit and sales that missed analysts' estimates as fewer customers visited its stores, and the retailer cut its full-year profit forecast for the second time. Lowe's net sales rose 9.6 percent to $15.74 billion in the third quarter ended Oct. 28. Lowe's net income fell to $379...

  • Nov 10- Canadian retailer Hudson's Bay Co, owner of U.S. luxury retail chain Saks Fifth Avenue, cut its revenue forecast for the full year, saying comparable sales did not improve in the second half as expected. The oldest continuously operating company in North America said on Thursday it expected sales of $14.5 billion- $14.9 billion, down from the $14.9 billion-...

  • Sales in Kors' wholesale business, which supplies to department stores including Macy's Inc and Neiman Marcus, fell 18.4 percent to $452.2 million in the second quarter ended Oct. 1. Kors cut its revenue forecast for the fiscal year to about $4.55 billion and adjusted profit forecast to $4.37- $4.43 per share. Net income attributable to the company fell to $160.9...

  • *Britain's GDP rise to nearly halve next year. BRUSSELS, Nov 9- Euro zone and Britain's growth will slow next year, the European Commission said on Wednesday, cutting its economic forecasts for 2017 because of increased political uncertainty, including Britain's Brexit vote, and weakening global trade. "Political uncertainty" after Britain's vote to leave the EU...

  • *Cuts 2016 EPS forecast to $5.77- $5.83 from $5.81- $5.89. *Issues 2017 EPS forecast of $5.77- $5.93 vs. est. In a major blow, CVS lost contracts to fill prescriptions for Tricare, a Department of Defense health care program, and for customers of pharmacy benefits manager Prime Therapeutics, to Walgreens Boots Alliance Inc this year.

  • *Cuts 2016 EPS forecast to $5.77- $5.83 from $5.81- $5.89. *Issues 2017 EPS forecast of $5.77- $5.93 vs. est. In a major blow, CVS lost contracts to fill prescriptions for Tricare, a Department of Defense health care program, and for customers of pharmacy benefits manager Prime Therapeutics, to Walgreens Boots Alliance Inc this year.

  • *Cuts 2016 EPS forecast to $5.77- $5.83 from $5.81- $5.89. *Issues 2017 EPS forecast of $5.77- $5.93 vs. est. Rival Walgreens Boots Alliance's shares were down 4.24 percent.

  • Rival Walgreens Boots Alliance's shares were down 6 percent. CVS cut its 2016 adjusted earnings forecast to $5.77- $5.83 per share from its prior forecast of $5.81- $5.89 per share. Net income attributable to CVS rose to $1.54 billion, or $1.43 per share, in the third quarter ended Sept. 30, from $1.25 billion, or $1.11 per share, a year earlier.

  • The company said it expects 2016 total revenue of $9.55 billion- $9.65 billion, down from its previous forecast of $9.9 billion- $10.1 billion. Valeant said it expected adjusted earnings of $5.30- $5.50 per share, compared with its previous forecast of $6.60- $7.00. The company recorded a net loss attributable to Valeant of $1.22 billion, or $3.49 per share, in the...

  • *Sees weaker yen than pvs f'cast: Y103 vs USD, Y114 vs EUR. TOKYO, Nov 8- Toyota Motor Corp on Tuesday raised its full-year forecast for operating profit by 6 percent as it expected efforts to scrimp and save would go further to curb the negative impact of a strong yen than previously anticipated. Toyota, one of the world's biggest automakers, now expects operating...

  • The company, whose cameras are worn by surfers, skydivers and other action junkies, said revenue fell to $240.6 million in the quarter from $400.3 million a year earlier, declining for the fourth straight quarter. GoPro also lowered its revenue forecast for the year ending December to $1.25 billion to $1.3 billion from its prior forecast of $1.35 billion to $1.5...

  • Nov 3- GoPro Inc reported a near 40 percent fall in third-quarter revenue and cut its full-year revenue forecast, hurt by dwindling demand for its body-mounted point-of-view cameras. The company, whose cameras are worn by surfers, skydivers and other action junkies, said revenue fell to $240.6 million in the quarter from $400.3 million a year earlier, declining...

  • Nov 3- TreeHouse Foods Inc cut its full-year profit forecast, citing underperformance of its recently acquired private brands business, and said it would close a plant in British Columbia, sending its shares down as much as 22 percent. TreeHouse cut its full-year adjusted earnings forecast range to $2.80- $2.85 per share, from $3.00- $3.10. The company also said...