Earnings Profit Warnings

  • OTTAWA, July 13- The Bank of Canada cut its growth forecast for 2016 but held rates steady on Wednesday, saying it believed exports and business investment would pick up even though it may have underestimated structural challenges facing businesses. The central bank also toughened its warnings about possible speculation in the Toronto and Vancouver housing...

  • OTTAWA, July 13- The Bank of Canada cut its growth forecast for 2016 but held rates steady on Wednesday, saying exports continued to disappoint and acknowledging it may have underestimated structural challenges facing businesses. In explaining its decision to leave interest rates unchanged even as it cut its expectations for Canadian and global growth, the...

  • OTTAWA, July 13- The Bank of Canada cut its growth forecast on Wednesday as disappointing exports and global uncertainties dampened demand, and warned that while it expected business investment to rise, it may have underestimated structural challenges facing industry. In explaining its decision to hold rates steady even as it cut its 2016 GDP forecast to 1.3...

  • NEW YORK, July 12- The U.S. Energy Information Administration cut its forecast for U.S. oil demand growth in 2016, and increased its demand growth forecast for 2017, according to a monthly outlook issued on Tuesday. U.S. petroleum and liquid fuel consumption will still reach an average of 19.68 million bpd in 2017, in line with previous estimates, said the U.S....

  • European airlines slump on Brexit vote, IAG warns on profit.

  • LONDON, June 24- Airline stocks plunged on Friday and IAG said it would no longer meet its profit targets this year after Britain's vote to leave the EU raised concerns over travel demand and flying rights. Airlines with a strong focus on the UK market were worst hit, with IAG, easyJet, Wizz Air and Ryanair all down by 18-22 percent. Ahead of the vote, airline bosses had...

  • MOSCOW, June 23- Russia's Central Bank said on Thursday it had decreased its inflation forecast for the end of 2016 to between 5 and 6 percent.

  • The forecast cut overshadowed the Red Hat's plan to buy back up to $1 billion in stock and sent the company's shares down 5.5 percent to $75.36 in extended trading on Wednesday. Red Hat did not disclose financial terms of the 3 scale deal, but said its expects the acquisition to increase its adjusted operating expenses for fiscal 2017 by about $5 million, or 3 cents...

  • The company's shares fell 6 percent to $74.90 in extended trading on Wednesday. Red Hat lowered its adjusted profit to about $2.19- $2.23 per share from $2.22- $2.26. The forecast was also below analysts average estimate of $2.24, according to Thomson Reuters I/B/E/S.

  • June 17- Embattled media giant Viacom Inc on Friday said its third-quarter earnings will fall short of Wall Street estimates, marking the first time since October 2008 that it has put out such guidance. The New York- based media company, which owns Paramount, Comedy Central and Nickelodeon, cited weak performance from its latest Teenage Mutant Ninja Turtle movie...

  • June 17- Embattled media giant Viacom Inc on Friday said its third-quarter earnings will fall short of Wall Street estimates, marking the first time since October 2008 that it has put out such guidance. The New York- based media company, which owns Paramount, Comedy Central and Nickelodeon, cited weak performance from its latest Teenage Mutant Ninja Turtle movie...

  • NEW YORK, June 15- U.S. Ahead of the United Kingdom's vote next week on whether to leave the European Union, few expected the Federal Reserve to take action, but officials also lowered their economic growth forecasts for 2016 and 2017 and indicated the U.S. central bank would be less aggressive in tightening monetary policy after the end of this year.

  • June 13- Chinese online search giant Baidu Inc slashed its current-quarter revenue forecast, saying many of its healthcare customers had cut or delayed advertising spending due to the ongoing regulatory scrutiny. The company cut its revenue forecast for the second quarter to $2.81 billion- $2.82 billion from $3.12 billion- $3.19 billion.

  • *Pan-European indexes down 0.7 percent. MILAN, June 9- European shares fell for a second straight day on Thursday weighed down by weakness among commodities-related stocks, while Essentra plunged after a profit warning. The pan-European STOXX 600 and FTSEurofirst 300 indexes were both down around 0.7 percent by 1109 GMT.

  • Delta expects an operating profit margin near 21 percent compared with its prior outlook of 21 percent to 23 percent, with passenger unit revenue down around 4.5 percent from a year ago, CFO Paul Jacobson said. JPMorgan analyst Jamie Baker said investors were bracing for higher fuel costs. Delta shares were down less than 1 percent in early afternoon trade on the...

  • Commodity-importing emerging market countries are faring better, but the benefits of lower energy and other goods have been slow to materialize, the World Bank said. "As advanced economies struggle to gain traction, most economies in South and East Asia are growing solidly, as are commodity-importing emerging economies around the world," said World Bank Chief...

  • *Cuts full-year adj earnings forecast to $6.60- $7.00/ share. The Laval, Quebec- based drugmaker expects full-year adjusted earnings of $6.60- $7.00 per share, compared with its previous forecast of $8.50- $9.50, and revenue of $9.9 billion- $10.1 billion, down from $11.0 billion- $11.2 billion. Ruane, Cunniff& Goldfarb Inc, one of Valeant's biggest shareholders, cut...

  • *Cuts full-year adj earnings forecast to $6.60- $7.00/ share. The Laval, Quebec- based drugmaker expects full-year adjusted earnings of $6.60- $7.00 per share, compared with its previous forecast of $8.50- $9.50, and revenue of $9.9 billion to $10.1 billion, down from $11.0 billion to $11.2 billion. The investment firm that runs the Sequoia Fund, long known for its...

  • *Cuts full-year adj earnings forecast to $6.60- $7.00/ share. The Laval, Quebec- based drugmaker expects full-year adjusted earnings of $6.60- $7.00 per share, compared with its previous forecast of $8.50- $9.50, and revenue of $9.9 billion to $10.1 billion, down from $11.0 billion to $11.2 billion. "Negative external attention continues to adversely impact the...

  • *Cuts full-year adj earnings forecast to $6.60- $7.00/ share. The Laval, Quebec- based drugmaker expects full-year adjusted earnings of $6.60- $7.00 per share, compared with its previous forecast of $8.50- $9.50, and revenue of $9.9- $10.1 billion, down from $11.0- $11.2 billion. "Negative external attention continues to adversely impact the business and our...