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BUSINESS
September 13, 2004 | From Bloomberg News
Broadcom Corp. of Irvine, whose semiconductors are used in consumer electronics and computer networks, said Sunday that third-quarter sales would miss its previous forecast because customers were delaying deliveries because of excess inventory. Revenue will be "flat to up slightly" from $641 million in the second quarter, the company said. Broadcom had previously forecast sales of $673 million to $680 million for the quarter ending Sept. 30.
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BUSINESS
December 7, 2002 | From Bloomberg News
Wendy's International Inc., the third-biggest U.S. hamburger chain, cut its profit forecast for a second time in a month as rivals McDonald's Corp. and Diageo's Burger King keep slashing prices. Profit will rise this year to $1.88 to $1.90 a share, less than the company's previous forecast of $1.90 to $1.91, Wendy's said. Shares of Wendy's, based in Dublin, Ohio, fell 13 cents to $27.32 on the NYSE.
BUSINESS
November 9, 2001 | Associated Press
The Japanese government projected further economic contraction through the fiscal year ending in March, downgrading the previous forecast. Japan's gross domestic product--the value of goods and services produced in a nation--is expected to contract 0.9% in real terms, instead of growing 1.7% as initially forecast, the Cabinet Office said. The revised forecast, the worst since the current GDP formula was set in 1980, is in line with those of private economists and the Bank of Japan.
BUSINESS
October 9, 2002 | Reuters
Local phone company SBC Communications Inc. said it expects its 2002 earnings to be at the low end of its previous guidance as it loses telephone lines to rivals in the weak economy. SBC, the parent of SBC Pacific Bell, said it was comfortable with Wall Street's 2002 earnings estimate of $2.26 a share, excluding one-time items. That's at the low end of its previous forecast of $2.26 to $2.35. Shares of San Antonio-based SBC fell 28 cents to $20.48 on the NYSE.
BUSINESS
January 9, 2001
WebMD Corp. said its fourth-quarter loss would be narrower than expected due to a quicker implementation of its restructuring effort. The company is now anticipating a loss in the range of $50 million to $55 million for the quarter ended Dec. 31, rather than the previous forecast of $60 million to $65 million, Chief Executive Martin Wygod said. In the last two weeks, WebMD has restructured pacts with Rupert Murdoch's News Corp. and chemical giant DuPont Co.
BUSINESS
September 6, 2007 | From Times Wire Services
Kraft Foods Inc. raised its 2007 earnings forecast, citing a lower-than-expected tax rate, the pace of share repurchases and increased confidence in its growth initiatives. The largest North American packaged-foods maker said it expected 2007 earnings of $1.80 to $1.82 a share before one-time items. Its previous forecast was $1.75 to $1.80. Northfield, Ill.
BUSINESS
January 9, 2007 | From Bloomberg News
Skechers U.S.A. Inc., a maker of sports and casual shoes, raised its fourth-quarter profit forecast as much as 27% on Monday because of increased sales growth. Shares closed at their highest price in more than five years. Earnings will reach 28 cents to 31 cents a share, up from a previous forecast of 22 cents to 27 cents, the Manhattan Beach company said. Sales will be as much as $300 million, compared with a previous forecast of $265 million.
BUSINESS
June 9, 2001 | Reuters
Networking equipment maker Juniper Networks Inc. warned that its second-quarter results will fall far short of Wall Street estimates and said it will cut 8% to 9% of its staff amid a slowdown in the telecommunications industry. The job cuts could affect as many as 104 workers, based on an employee count of 1,162 as of March 31. The earnings warning triggered a sell-off in Juniper shares, which were the biggest net decliner on Nasdaq. The stock dropped $8.61, or almost 18.
BUSINESS
July 17, 2001 | Bloomberg News
Novellus Systems Inc., a maker of equipment to build circuits on chips, said second-quarter earnings fell 24% to $59.2 million, or 40 cents a share, a penny better than the average estimate of analysts. Revenue rose 3.6% to $376.9 million, helped by sales of less-profitable tools. Orders were $210 million, after Novellus booked $250 million in orders and had $40 million in cancellations, Chief Executive Rick Hill said.
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