Earnings Profit Warnings

  • March 19- FedEx Corp on Tuesday cut its 2019 profit forecast for the second time in three months, sending its shares down more than 5 percent and fueling fresh worries it is losing ground to delivery rivals such as United Parcel Service Inc and Deutsche Post DHL Group. "Slowing international macroeconomic conditions and weaker global trade growth trends...

  • March 19- FedEx Corp on Tuesday cut its 2019 profit forecast for the second time in three months, sending its shares down 5 percent and fueling fresh worries it is losing ground in Europe to delivery rivals United Parcel Service Inc and Deutsche Post DHL Group. "Slowing international macroeconomic conditions and weaker global trade growth trends continue,"...

  • The Memphis, Tennessee- based company cut its fiscal 2019 adjusted earnings per share forecast to a range of $15.10 to $15.90, from $15.50 to $16.60 previously. FedEx, which is seen as a bellwether for the global economy, in December slashed its full-year profit forecast, blaming weak growth in Europe and a cooling Chinese economy due to an ongoing trade war with...

  • March 19- Package delivery company FedEx Corp reported a lower adjusted quarterly net profit on Tuesday, and cut its full-year earnings per share forecast for the second time, citing weaker global trade growth. The company's adjusted net income fell to $797 million, or $3.03 per diluted share, in the third quarter ended Feb. 28, from $1.02 billion, or $3.72 per share,...

  • LONDON, March 13- Britain has lowered its official forecast for economic growth in 2019, finance minister Philip Hammond said on Wednesday as he delivered a half-yearly budget update. The figures were prepared for Hammond by the Office for Budget Responsibility. They assume Britain will secure a Brexit deal, avoiding the shock of leaving the European Union...

  • FRANKFURT, March 7- The European Central Bank slashed its growth and inflation forecasts for 2019 and lowered those for 2020 and 2021 on Thursday, acknowledging that Europe's slowdown was longer and deeper than earlier thought. ECB President Mario Draghi said that, unusually, the central bank had not changed its assessment that risks were balanced to the...

  • FRANKFURT, March 7- The European Central Bank slashed its growth and inflation forecasts for 2019 and lowered those for 2020 and 2021 on Thursday, acknowledging that Europe's slowdown is longer and deeper than earlier thought. With a global trade war weighing on confidence, industrial production and exports have taken a dip, exacerbated by a string of domestic...

  • CHICAGO, March 6- The U.S. Department of Agriculture dropped its net farm income forecast for 2019 by more than 10 percent on Wednesday, saying that data lags from the partial government shutdown failed to show the full picture of the sector's health. Last month, USDA projected that net farm income would hit $77.6 billion in 2019- the highest total since a global...

  • HONG KONG, Feb 26- Apple Inc supplier AAC Technologies Holdings Inc saw its shares dropped 13 percent on Tuesday after the acoustic component maker said it expected first-quarter net profit to fall as much as 75 percent due to reduced orders. The Hong Kong- listed firm late on Monday forecast January-March profit to fall 65-75 percent compared with the same...

  • HONG KONG, Feb 26- Shares of Apple Inc supplier AAC Technologies Holdings Inc dropped 13 percent on Tuesday after the acoustic component maker said it expected first-quarter net profit to fall as much as 75 percent due to reduced orders. The Hong Kong- listed firm late on Monday forecast January-March profit to fall 65-75 percent compared with the same period a...

  • "The late 2018 and early 2019 growth momentum has been weaker than expected across a number of the large economies Argentina, Brazil, and Mexico," Goldman's New York- based team of Latin American economists wrote in a note on Monday. Citing "lower statistical growth carry-over, lingering policy uncertainty, weaker external demand, and a number of idiosyncratic...

  • *2018 profit before tax at $19.9 bln versus $22 bln estimate. HONG KONG/ LONDON, Feb 19- HSBC Holdings turned in a disappointing annual profit as higher costs and a stocks rout chipped away at its trading businesses, while warning that an economic slowdown in China and Britain would throw up further hurdles this year. In June, Flint had said HSBC would invest $15- $17...

  • *Growth this year now seen at 2.27 pct, not 2.41 pct. TAIPEI, Feb 13- Taiwan's government trimmed its 2019 economic growth forecast on Wednesday, showing that slowing global expansion and weaker tech demand are denting the island's pivotal exports and outlook. Aidan Wang, Cathay Financial Holdings economist, said the reduced 2019 forecast was "still too...

  • Feb 11- Canadian construction and engineering firm SNC-Lavalin Group Inc on Monday cut its full-year profit forecast for the second time, citing dispute with a client related to a mining project in Latin America. SNC did not name the customer, saying the matter was confidential, but analysts said the dispute was related to one of the company's projects with...

  • Feb 11- Canadian construction and engineering firm SNC-Lavalin Group Inc on Monday cut its full-year profit forecast for the second time because of a dispute related to its mining and metallurgy project in Latin America. The company now expects its 2018 adjusted profit to be in the range of C $1.20 to C $1.35 per share, down from the prior forecast of C $2.15 to C...

  • *EU cuts euro zone growth forecast, slashes Italy outlook. LONDON, Feb 7- Germany's 10- year bond yield sank on Thursday to its lowest level in over two years, taking a step closer to zero percent, after sharp cuts to the European Commission's growth and inflation forecasts fuelled concern about the economic outlook. Germany's 10- year bond yield fell over 5 bps to...

  • *EU cuts euro zone growth fcast, slashes Italy outlook. LONDON, Feb 7- Germany's 10- year bond yields sank on Thursday to their lowest level in over two years, taking a step closer to zero percent, after sharp cuts to the European Commission's growth and inflation forecasts fuelled concern about the economic outlook. Germany's 10- year bond yield, the benchmark for...

  • *Sterling shade lower ahead of Bank of England policy meeting. LONDON, Feb 7- The euro fell to a two-week low on Thursday after the European Commission sharply cut its forecasts for economic growth in the euro zone. Global trade tensions and growing public debt are hastening a slowdown in the largest countries of the bloc, complicating the European Central Bank's...

  • LONDON, Feb 7- German bond yields sank on Thursday to their lowest level in over two years after the European Commission cut growth and inflation forecasts, likely complicating the European Central Bank's plans for an interest rate hike this year. Germany's 10- year bond yield, the benchmark for the bloc, dropped more than three basis points to 0.128 percent, its...

  • BRUSSELS, Feb 7- The European Commission sharply cut on Thursday its forecasts for economic growth in the euro zone this year and next because of an expected slowdown in the largest countries of the bloc caused by global trade tensions and growing public debt. Growth in the 27- nation European Union- without Britain which is planning to leave in March- is expected...