Earnings Profit Warnings

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  • Oct 28- Chocolate maker Hershey Co cut its full-year profit forecast, hurt by weak demand in North America and higher marketing costs ahead of the holiday season. Profit is now expected to be $4.10 per share compared with the $4.10- $4.18 it anticipated earlier, as it expects to "markedly" ramp up spending during the holiday quarter. Net income fell to $154.8 million,...

  • *Engineering firm says 2015 to be "meaningfully" below forecasts. LONDON, Oct 28- Shares in Meggitt plunged on Wednesday after the UK engineering firm warned profits this year would be "meaningfully" below forecasts after demand for spare aircraft parts deteriorated and its energy industry business suffered from low oil prices. Shares in Meggitt, a FTSE 100 stock,...

  • Oct 28- Chile's Antofagasta Plc on Wednesday cut its annual copper production forecast for the third time this year, sending its shares lower as the miner posted steady output in the third quarter versus the second. Antofagasta shares, down 29 percent this year, fell 2.3 percent to 532 pence as of 0934 GMT. Like its peers, London- listed Antofagasta is battling a...

  • LONDON, Oct 28- Shares in Meggitt fell to a three-year low on Wednesday after the engineering firm warned its profit this year would be "meaningfully" below forecasts due to a drop in military sales compounding an already poor performance by its energy unit. Meggitt's shares fell more than 20 percent in early trading to 366 pence, its lowest level in three years and...

  • LONDON, Oct 28- British engineering firm Meggitt said its full-year underlying operating profit would be "meaningfully" below forecasts as a downturn in its military division compounded an already poor performance from its energy unit. The company, which generates half its revenues from supplying parts for commercial aircraft, said trading in the third...

  • OSLO, Oct 28- Norway's Statoil posted a third-quarter operating profit below market forecasts on Wednesday and said it has cut its capital spending for this year by another $1 billion as the oil industry struggles with low crude prices. "The continued low prices in the third quarter demonstrates that we must continue to chase further cost efficiencies," Statoil...

  • Meggitt warns on profits after energy business slumps Wednesday, 28 Oct 2015 | 3:21 AM ET

    LONDON, Oct 28- British engineering firm Meggitt said its full-year underlying operating profit would be "meaningfully" below forecasts due to weak demand in its energy division, prompting the group to look for further job cuts. The company, which generates half its revenues from supplying parts for commercial aircraft, said trading in the third quarter was...

  • COPENHAGEN, Oct 23- A.P. Moller-Maersk cut its 2015 profit forecast by 15 percent on Friday, blaming a slowdown in the container shipping market that suggests a weakening global economy. The Danish conglomerate operates Maersk Line, the world's largest container shipping company which transports roughly 20 percent of all goods on the busiest routes between...

  • OTTAWA, Oct 21- Canada's central bank held interest rates steady on Wednesday after two cuts earlier this year, judging that the economy was rebounding from an oil price shock, but it warned economic growth in the next two years will be slightly lower than projected. Market analysts pointed out that a promise from the incoming Liberal government of Justin...

  • LONDON, Oct 21- Pearson shares plunged as much as 17 percent on Tuesday after the world's biggest education publisher said earnings would be worse than expected, partly because fewer students were enrolling at U.S. colleges. Pearson, which sold the Financial Times and its stake in The Economist this year to focus on education publishing, said earnings per share...

  • LONDON, Oct 21- Home Retail, Britain's biggest household goods retailer, warned on its profit outlook on Wednesday, blaming uncertainty ahead of the key Christmas trading period and increased investment at its Argos chain. Chief Executive John Walden said trading at Argos for the Christmas season was less predictable than usual as both retailers and shoppers...

  • LONDON, Oct 21- Home Retail, Britain's biggest household goods retailer, warned on its full-year profit outlook on Wednesday, blaming uncertainty ahead of its key Black Friday and Christmas trading periods and increased investment at its Argos chain. Home Retail, which also runs do-it-yourself chain Homebase, is transforming its larger, more profitable Argos...

  • LONDON, Oct 20- Genel Energy, one of the main oil producers in Iraqi Kurdistan, has cut its full-year production and revenue forecasts after reducing investment because of weak prices and a debt it says is owed by the Kurdistan Regional Government. The London- listed company, which says is owed around $400 million, said on Tuesday it will not invest in increasing...

  • Oct 19- International Business Machines Corp posted a bigger-than-expected drop in revenue for the fifth quarter in a row and lowered its full-year profit forecast, due to a strong dollar and the sale of low-margin businesses. IBM lowered its full-year 2015 operating profit forecast to $14.75- $15.75 per share from $15.75- $16.50. IBM is shifting from making...

  • Yum Brands cuts 2015 adjusted profit forecast Thursday, 15 Oct 2015 | 4:58 PM ET

    Oct 15- Yum Brands Inc on Thursday cut its 2015 adjusted profit forecast, saying it expects a strong dollar to further eat into profit. The company said it now expects full-year adjusted profit to be between flat with a year ago and a low-single-digit percentage gain. Earlier this month, the company had said it expected 2015 earnings per share growth to be well...

  • Oct 14- Wal-Mart Stores Inc warned on Wednesday that higher wages as well as spending on e-commerce and lower prices would cut earnings per share as much as 12 percent next fiscal year, sparking the steepest one-day decline in the company's shares in 25 years. Wal-Mart Chief Executive Doug McMillon said a $1.5 billion investment in wages and training, including...

  • BERLIN, Oct 14- The German government slightly lowered its growth forecast on Wednesday to 1.7 percent for this year, blaming an economic slowdown in China and other emerging markets, but it confirmed its prediction of a 1.8- percent expansion next year. It remains on track despite the subdued outlook for the global economy with weaker growth in China and...

  • Oct 13- Global household wealth will grow at 6.6 percent annually, slower than the 7 percent estimated earlier, as the overall economic outlook remains weak, Credit Suisse said. "The United States will remain the undisputed leader with wealth nearing $113 trillion, but its share will decline somewhat to a third of the global total," Credit Suisse said.

  • LONDON, Oct 13- Britain will build around 1.8 million cars in 2017, less than originally expected, due to more sluggish growth in Europe, industry body the Society for Motor Manufacturers and Traders said on Tuesday. A spokesman at the SMMT told Reuters last month that the group forecast car output of 1.95 million cars in 2017, but Chief Executive Mike Hawes said...

  • *Expects adj profit of $2.70/ share vs est $3.19/ share. Oct 6- Adobe Systems Inc lowered its profit forecast for 2016 below analyst estimates partly due to a strong dollar, sending its shares down as much as 13 percent in extended trading. The Photoshop maker said it expects full-year revenue of about $5.7 billion and an adjusted profit of $2.70 per share.