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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.
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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
September 6, 2007 | From Times Wire Services
Tyson Foods Inc., the largest U.S. meat company, cut its 2007 earnings outlook primarily because of higher-than-expected live cattle costs and a decline in revenue resulting from a disruption in South Korean beef trade. The company, whose shares fell more than 9%, also lost some sales volume in chicken when it raised prices this year. The Springdale, Ark.-based company expects fiscal year 2007 earnings of 72 cents to 80 cents a share, compared with its previous forecast of 82 cents to 92 cents.
BUSINESS
January 11, 2007 | From Reuters
California Pizza Kitchen Inc. said fourth-quarter sales at stores open at least a year rose 6.9%, more than expected, prompting the restaurant chain to raise its earnings estimate. The company said it now expected earnings of 15 cents to 17 cents a share for the fourth quarter, up from its previous forecast of 13 cents to 15 cents. It expects to report that revenue in the latest period rose 16% to $146 million. The Westchester-based company, which plans to report fourth-quarter earnings Feb.
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.
BUSINESS
October 5, 2001 | Reuters
Neiman Marcus Group Inc. said fiscal first-quarter earnings will fall short of its previous forecast because of a significant decline in spending at its stores since the terrorist attacks in the U.S. Other high-end retailers also have warned of earnings weakness. Neiman Marcus said in the three weeks that included and followed Sept. 11, sales at its stores open at least a year declined by an average 25%.
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