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BUSINESS
July 20, 2012 | Bloomberg News
Shares of Xerox Corp. fell after the provider of printers and business services cut its full-year profit forecast as the economic slump in Europe crimped demand for technology. Excluding some items, profit will be $1.07 to $1.12 a share this year, Norwalk, Conn.-based Xerox said Friday. That compared with a previous forecast of as much as $1.18. Analysts had estimated $1.11. The economic slowdown, especially in Europe, led to a 4% second-quarter decline in Xerox's sales of printers, supplies and other technology, when adjusting for currency changes.
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BUSINESS
May 15, 2008 | From Bloomberg News
Jack in the Box Inc. shares fell by the largest amount in more than two years after the San Diego company said 2008 sales would trail its previous forecast. The shares dropped $2.90, or 10%, to $24.87 after the restaurateur said same-store sales at its namesake Jack in the Box chain would be unchanged for the year. In February, the company forecast sales gains of 2% to 3%. Same-store revenue will increase by as much as 3% at its Qdoba chain of Mexican restaurants, the company said.
BUSINESS
November 29, 2012 | By Shan Li
Shoppers are passing on Tiffany & Co's iconic blue boxes. The jewelry purveyor reported a plunge in third-quarter profit as continued economic uncertainty and high material costs hurt its bottom line. For the third quarter ended Oct. 31, Tiffany reported profit of $63.2 million, or 49 cents per share, down nearly 30% compared to $89.7 million, or 70 cents a share, in the same period a year ago. The New York company, known for its finely crafted trinkets and immortalized in films such as "Breakfast at Tiffany's," also slashed its forecast for the year.
BUSINESS
February 7, 2012 | By Jerry Hirsch
Earthquakes, floods, a strong Japanese yen - just about everything has conspired to hold Toyota Motor Corp. back. But with the world's No. 3 automaker recovering from the natural disasters and the North American auto market continuing to strengthen, Toyota on Tuesday raised its earnings forecast for its current fiscal year. Toyota manufactures the Camry, the best-selling passenger car in America, as well as the Prius hybrid and other models. It also owns the Lexus brand. The automaker is now forecasting a profit of 200 billion yen ($2.6 billion)
BUSINESS
August 13, 2012 | By Andrew Tangel
Forecasters see weaker U.S. growth and a softer labor market than they did three months ago, according to a survey by the Federal Reserve Bank of Philadelphia. Gross domestic product is expected to grow at an annual rate of 1.6% this quarter, down from a previous estimate of 2.5%, according to the Philly Fed's Third Quarter Survey of Professional Forecasters. The survey also found forecasters predict lower inflation and slightly higher unemployment this year. The unemployment rate in 2012 is expected to be 8.2% (it was 8.3% in July, according to the U.S. Labor Department.)
BUSINESS
September 16, 2013 | By Don Lee and Jim Puzzanghera
WASHINGTON - To many investors and economists, the prospects for a new Federal Reserve chief became clearer - and brighter - after former Treasury Secretary Lawrence H. Summers dropped out of contention for the post. The same can't be said for the lackluster U.S. economy. Even if former UC Berkeley economist Janet L. Yellen, now the Fed's vice chair, gets the nod as the next leader of the central bank, she will inherit a job that is getting only more difficult. With productivity gains weak, the housing market showing signs of cooling and another nasty Washington fight looming over the debt limit and the budget, Yellen and her colleagues are looking at a very uncertain economy as they head into an important two-day policy-setting meeting Tuesday.
BUSINESS
October 9, 2002 | Bloomberg News
CVS Corp. said it expects third-quarter earnings to rise as much as 39 cents a share, at the high end of its previous forecast, after shoppers bought more pharmacy items. Analysts expected 37 cents. Shares of CVS rose $1.89 to $25.89 on the NYSE.
BUSINESS
September 25, 2007 | From Times Wire Services
Lowe's Cos., the second-largest U.S. home improvement retailer, said earnings this year might be below its previous forecast of $1.97 to $2.01 a share because dry conditions in parts of the mid-Atlantic, Southeastern and Western U.S. slowed sales of outdoor and garden products. Lowe's shares fell as much as 6.7% after U.S. markets closed.
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