NEC Operating Profit Tumbles, Outlook Cut
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NEC Corp., Japan's third-largest  electronics conglomerate, on Thursday reported a 39 percent  fall in quarterly operating profit and cut its full-year  outlook, battered by sluggish demand for microchips and mobile  phones.
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Flextronics International Ltd.,  the No. 1 contract electronics manufacturer, on Monday posted a  quarterly profit versus a year earlier loss but a weak forecast  due to weakening consumer and communications demand sent shares  down nearly 8 percent.
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Tokyo's Nikkei fell nearly 1 percent to a one-month low by Thursday afternoon as stocks like NEC Corp. dropped after disappointing earnings from U.S. companies fanned concern over profit trends and sent Wall Street lower.
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TOKYO -- Nissan Motor Co. said Friday that profit tumbled 22.6 percent in the October-December quarter amid rising commodity costs, tougher competition and softening sales.
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Northeast Utilities Co., New England's  largest power distributor, cut its 2004 profit outlook on  Thursday and said it would restate second and third-quarter  results to reflect a related accounting change.
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TOKYO: Japan&#39;s NEC Electronics Corp is likely to miss its operating profit forecast for the year to March by 40 %due to sluggish demand for microchips, a Japanese newspaper said on Saturday.
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Sears Holdings said Thursday that its second-quarter profit had tumbled 40 percent because of lower overall sales and weaker operating results from Kmart and its domestic Sears operations.
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Union Pacific Corp. UNP.N on Monday  said quarterly earnings fell sharply as the nation's largest  railroad struggled with high fuel prices and service  disruptions amid last year's record freight volume.
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EMC Corp. , the world&#039;s largest  maker of corporate data-storage equipment, on Friday reported  lower quarterly profit after supplies of a key new product  failed to keep up with demand.
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Infineon&#39;s net profit fell to $54.6 million in the fourth quarter from $63 million in the third quarter of last year. The net result came up short of analyst forecasts of $169 million.
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The company said its fourth-quarter profit tumbled 26.3 percent due to slumping U.S. motorcycle sales amid a weakening economy.
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Illinois Tool Works Inc.  cut its  quarterly profit outlook on Friday, becoming the latest  manufacturer to warn of the effects of a slowing U.S. economy.
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Japanese electronics group Toshiba Corp.  and Fujitsu Ltd.  said quarterly operating profit dropped on sharp price falls in microchips and hard drives, and forecast steeper price declines to come.
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Lennar Corp. LEN.N, the No. 3 U.S.   homebuilder, on Friday cut its third-quarter profit forecast   due to a deteriorating housing market, sending its shares down   nearly 3 percent in premarket trading.
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The Nasdaq exchange will halt trade in NEC Corp  ADRs from September 27, after the Japanese electronics group missed a twice-extended deadline to file an auditor-approved earnings report, NEC said on Wednesday.
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The manufacturer said earnings fell 54 percent from a year-ago period which included its former health-care and electronics units. Adjusted profit topped Wall Street expectations by a wide margin.
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The aluminum maker said second-quarter profit slipped nearly 4 percent as outage costs at two smelters weighed down results.