NEC cuts forecasts in slow market
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Japanese electronics giant NEC becomes the latest technology firm to cut forecasts in tough times.
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Stock futures pointed to a lower market  open on Thursday as the technology sector remains under  pressure after Alcatel-Lucent  slashed its revenue  outlook.
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Japan unexpectedly cut its estimate for second-quarter economic growth to a 1.3 percent annual pace, the slowest in more than a year, as manufacturers slashed inventories.
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Trucking and logistics company Con-Way   Inc. CNW.N on Monday cut its third-quarter earnings per share   forecast, citing lower-than-expected freight volumes as   economic activity slowed across its customer base.
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Japan&#39;s Nikkei 225 Stock Average fell for the first day in four. Nintendo Co. and Sharp Co. slid after brokerages cut ratings on the companies on concern that earnings growth may slow.
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Stocks declined on Tuesday, weighed down by losses in the technology sector after microchip maker National Semiconductor Corp.  cut its quarterly revenue forecast.
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SAN FRANCISCO (CBS.MW) -- Shares of National Semiconductor fell more than 7 percent in pre-open trading Tuesday after the analog chipmaker lowered its fiscal second-quarter financial targets due to weak demand and high inventory.
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The retailer lowers its outlook after same-store sales fall.
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Cisco Systems posted solid financial results for its most recent quarter on Wednesday, but the networking giant lowered its financial forecast for the months ahead, citing a slowdown in U.S. and European markets.
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Japan's NEC Corp. (6701.T) said on  Tuesday that it now expected to ship 5.5 million mobile phones  in the year to March 2007, down 8 percent from its previous  estimate of 6 million phones.
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Stocks fell on Thursday after a report   said factory activity slowed sharply in the U.S. Mid-Atlantic   region in September, triggering fresh worries about an economic   slowdown and prospects for corporate profits.
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Lucent Technologies Inc.  said  on Monday it expects third-quarter earnings to fall due mainly  to slower sales of wireless network equipment in North America,  in news that pushed down its shares.
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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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Black & Decker Corp  and Stanley Works  on Monday gave dim forecasts for 2008 as a slowdown in the U.S. housing market has stifled demand for building equipment.
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Treasury debt prices trimmed early  losses on Monday as a survey of regional U.S. manufacturing  showed a startling slowdown in August, casting renewed doubt on  expectations for an economic revival.
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Europe's top consumer electronics group Philips cut the forecast for its closely watched chip unit on Friday and predicted a significant slowdown for the semiconductor industry next year.
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Europe's top consumer electronics  group Philips cut the forecast for its closely-watched  semiconductor unit on Friday, pointing to the predicted  slowdown of the sector's recovery.