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Earnings Profit Warnings

  • LONDON, Jan 18- Education group Pearson lost almost a third of its market value on Wednesday after it ditched profit and dividend forecasts as it struggles to adapt to a digital age that has already upended the music and newspaper industries. Pearson needs to rebuild its business in North America, its biggest market, where higher education customers are turning...

  • "The costs associated with the accelerated mix shift between our stores and digital channels and a highly promotional competitive environment had a negative impact on our fourth-quarter margins and earnings per share," Chief Executive Officer Brian Cornell said in a statement. The National Retail Federation reported a forecast-beating 4 percent...

  • Jan 18- Target Corp cut its quarterly earnings forecast after sales for the holiday season came in lower than expected due to weak demand for electronics, food and other products, and its shares fell more than 3 percent. Chief Executive Officer Brian Cornell on Wednesday cited disappointing store traffic and sales trends throughout November and December.

  • Jan 18- Target Corp lowered its comparable store sales and earnings forecasts for the fourth quarter, citing "softer-than-expected" holiday sales due to, what the retailer called, disappointing traffic and sales trends. The company said it expects to earn $1.45- $1.55 per share in the quarter, lower than its prior forecast of $1.55- $1.75. Target also lowered its...

  • Jan 18- Target Corp lowered its comparable store sales and earnings forecasts for the fourth quarter, citing softer-than-expected holiday sales. The company said comparable sales declined 1.3 percent in the November-December period. The company's shares were down 4.9 percent at $67.50 in premarket trading on Wednesday.

  • LONDON, Jan 18- Education group Pearson lost almost a third of its market value on Wednesday after it ditched its profit and dividend forecasts in a battle to respond to a shift to digital that has already hit the music and newspaper industries. The greatest change is being felt in North America, its biggest market, where a fall in college enrollment numbers due to...

  • LONDON, Jan 18- Troubled British publisher Pearson cut its profit guidance for the next two years, lowered its 2017 dividend and said it may sell its stake in Penguin Random House to help battle "unprecedented" changes hitting its key markets. Shares in Pearson, which has issued a string of profit warnings in recent years, plunged 23 percent as it announced its...

  • IMF CUTS LATIN AMERICAN GROWTH FORECASTS TO 1.2 PCT FOR 2017 AND 2.1 PCT FOR 2017 ON PERSISTENT WEAKNESS IN BRAZIL, FALLING MEXICAN PESO.

  • IMF SHARPLY CUTS INDIA FY 2016-17 GROWTH FORECAST TO 6.6 PCT DUE TO CONSUMPTION SHOCK FROM WITHDRAWAL OF LARGE CURRENCY NOTES; FY 2017-18 FORECAST CUT TO 7.2 PCT.

  • *Other key OPEC members begin cutting oil production. NEW YORK, Jan 12- Oil prices rose more than 1 percent on Thursday on news that key crude exporters, including Saudi Arabia and Russia, were cutting production to reduce a global crude glut, and on forecasts of record demand in China. "The market is in a consolidation pattern, and as we get more and more signs of them...

  • *Other key OPEC members begin cutting oil production. LONDON/ NEW YORK, Jan 12- Oil prices rose nearly 2 percent on Thursday on news that key crude exporters, including Saudi Arabia and Russia, were cutting production as promised in a deal to reduce a global glut and on forecasts of record demand in China. Brent crude oil hit a high of $56.43 a barrel before easing...

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices jumped more than $1 a barrel on Thursday on news that key OPEC members were cutting production as promised and on forecasts of strong demand growth in China. Several OPEC members appear to be implementing the deal.

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices rose more than $1 a barrel on Thursday on reports key OPEC members were starting to cut production as promised and on forecasts of strong demand growth in China. "All the focus is now on OPEC compliance, which seems to be moving ahead as planned," said Bjarne Schieldrop, chief commodities...

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices rose on Thursday, supported by reports that key members of OPEC were starting to cut production as promised and by forecasts of strong demand growth in China. "All the focus is now on OPEC compliance, which seems to be moving ahead as planned," said Bjarne Schieldrop, chief commodities...

  • *Other key OPEC members begin cutting oil production. LONDON, Jan 12- Oil prices rose on Thursday, supported by reports that key members of OPEC were starting to cut production and by forecasts of strong demand growth in China. "Reports are emerging that OPEC signatories to the production cut agreement have already commenced reducing output," said Daniel Hynes,...

  • LONDON, Jan 12- Oil prices rose on Thursday, supported by reports OPEC was starting to cut output and expectations of strong demand growth in China, but rising U.S. crude inventories reinforced concerns over plentiful global supplies. Several OPEC members appear to be implementing the deal. "Reports are emerging that OPEC signatories to the production cut...

  • LONDON, Jan 12- Oil prices rose on Thursday, supported by signs OPEC is starting to cut output and expectations of strong demand growth in China, but rising U.S. crude inventories reinforced concerns over plentiful global supplies. Several OPEC members appear to be implementing the deal. "Reports are emerging that OPEC signatories to the production cut...

  • Jan 4- Macy's Inc, the biggest U.S. department store operator, cut its 2016 adjusted profit forecast, largely due to weak holiday season sales. The company's shares were down 8.9 percent at $32.63 in extended trading on Wednesday. Macy's cut its adjusted profit forecast for the year ending Jan. 30 to $2.95- $3.10 per share from $3.15- $3.40 per share it previously...

  • LONDON, Jan 4- Next cut its profit forecast for the current financial year after a poor Christmas and warned of a further decline in 2017-18, sending shockwaves through Britain's clothing sector as the most successful performer of the last decade faltered. The company, which trades from about 540 shops in Britain and Ireland, said it was disappointed with its...

  • LONDON, Jan 4- Next cut its profit forecast for the current financial year after a poor Christmas and warned of a further decline in 2017-18, sending shockwaves through Britain's clothing sector as the most successful performer of the last decade stumbled badly. The company, which trades from about 540 shops in Britain and Ireland, said it was disappointed with...