August 29, 2008 |
For several years, carmakers have been reaping the benefits of explosive growth in emerging global markets, even as U.S. sales have tanked. That may be changing. On Thursday, Toyota Motor Corp. said it was cutting its worldwide sales forecast for 2009 by 7%, to 9.7 million cars and light trucks. And although a bleak U.S. sales picture is mainly to blame, 300,000 of the revision comes from international markets, including a 150,000 cut in Asia, which has been among the world's fastest-growing regions in recent years.
November 15, 2007 |
The stock market finished lower Wednesday as investors, uncertain whether the worst of the credit crisis was over, refrained from extending Tuesday's huge advance. Share prices were also hurt by a reduced sales forecast from Macy's and a report showing a slight increase in consumer spending last month. The department-store operator's stock tumbled $2.18, or 7.1%, at $28.47. Stocks bobbed in and out of positive territory for much of the day before taking a sharp turn lower in the last half-hour.
August 23, 2002 |
Williams-Sonoma Inc. said Thursday that its quarterly profit surged on tighter inventory controls and fewer markdowns, but a conservative sales forecast weighed on the shares. The San Francisco-based company, known for its high-end namesake stores and the Pottery Barn chain, cut its projections for third-quarter sales at stores open at least a year after a sluggish July. It kept its earnings estimate unchanged. Williams-Sonoma's stock fell $1.65, or 6%, to $25 on the New York Stock Exchange.
June 21, 2001 |
Levi Strauss & Co., the closely held maker of Levi's jeans and Dockers slacks, Wednesday reduced its annual sales forecast because of sluggish demand and will cut back production at plants in the U.S. for the rest of the year. Sales will fall 3% to 5% for the fiscal year ending in November, assuming the value of overseas currencies compared with the dollar remains the same, Levi said. Previously, the forecast ranged from a decline of 2% to a gain of 2%.
May 28, 2002 |
Qualcomm Inc. has twice reduced its forecast for 2002 sales of mobile phones based on the company's chips and patents. It may be time for another cut, investors say. San Diego-based Qualcomm, the largest maker of chips for Verizon Wireless Inc. phones, expects worldwide sales of as many as 85 million handsets based on the code division multiple access, or CDMA, standard it developed. The company expects U.S.
June 10, 2003 |
Despite global uncertainties, the major U.S. broadcasters probably will be the biggest beneficiaries of a steady rise in worldwide ad spending over the next five years, a study to be released this week shows. The annual five-year entertainment and media forecast by accounting giant PricewaterhouseCoopers concludes that advertisers faced with continued economic and political risk will opt for the widest possible audience.
October 12, 2007 |
Stocks retreated from lofty heights Thursday after a major Wall Street bank lowered its estimate of sales by a highflying Chinese Internet company and a European monetary official voiced concern about inflation. The news caused traders to take profits, particularly in the technology sector, from big gains made earlier in the session after Wal-Mart Stores lifted its profit forecast.
July 6, 2005 |
An improving sales outlook at retail giant Wal-Mart Stores sent stocks higher Tuesday as investors, also cheered by a jump in factory orders, looked past another uptick in the price of oil. Wal-Mart raised its sales projection for June to the highest level since May 2004. That means "2% of the economy is coming out and saying their sales are better than forecast," said John Lynch, chief market analyst at Evergreen Investments. "That's the best news of the day."
April 27, 2011 |
Broadcom Corp. posted an 8% jump in first-quarter profit, but its shares plunged Tuesday after the company said key customers for its wireless microchips were having trouble competing in the cellphone market. The Irvine-based chip maker said revenue from the unit that makes chips for Nokia and Samsung declined. Both mobile-phone makers reported weak earnings this month. Broadcom also offered a sales forecast for the second quarter that was below what most analysts expected.
December 9, 2008 |
Broadcom Corp., the Irvine maker of chips for phones and consumer electronics, reduced its fourth-quarter sales forecast to $1.05 billion to $1.1 billion, down from a previous projection of $1.17 billion to $1.24 billion. The company, one of a number of chip makers to restate projections for the current quarter, said the recession is crimping demand for electronics, forcing customers to cancel or delay orders. Before the revision was announced, shares had gained 52 cents to close at $15.46.