Auto Retailer CarMax Cuts Profit Outlook
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Auto retailer CarMax Inc. (KMX.N) on Tuesday said it was cutting its second-quarter earnings forecast due to slower-than-expected used-car sales.
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General Motors Corp. GM.N on Thursday  posted disappointing quarterly earnings and cut its 2004 profit  forecast due to mounting losses in Europe and slowing growth in  China, sending its shares down 5 percent.
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Business News, DETROIT, General Motors Corp. and Ford Motor Co. said on Wednesday they would cut production more than expected after weak US sales in November, a move that analysts said could hurt profits.
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General Motors Corp. GM.N said on  Thursday that it expects earnings this year to fall, due in  part to weaker profits from its financial services arm.
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CarMax Inc.  on Friday posted lower quarterly profit, but the used-car retailer said its sales have been steadily improving, sending its shares up as much as 14 percent.
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General Motors Corp.  said on Thursday that it expects earnings this year to fall, due in part to weaker profits from its financial services arm.
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Sonic Automotive Inc. has lowered its earnings estimate for 2004 because of weather-related losses and a difficult market for new and used vehicle sales.
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General Motors Corp. GM.N and Ford  Motor Co. F.N said on Wednesday they would cut production  more than expected after weak U.S. sales in November, a move  that analysts said could hurt profits.
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Mounting losses at U.S. arm Chrysler   forced DaimlerChrysler DCXGn.DE to cut its 2006 operating   profit forecast by around 1 billion euros ($1.27 billion) on   Friday, sending its shares skidding lower.
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Sharper Image Corp., which sells robotic vacuum cleaners and massage chairs, reduced its full-year profit forecast because holiday sales were disappointing.
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Ford Motor Co. F.N on Tuesday said  its automotive business was gearing up for bigger profits this  year, but overall earnings will fall due to weaker results at  its financial services unit.
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American Axle & Manufacturing Holdings  Inc. AXL.N, an auto parts supplier, on Thursday cut its 2004  earnings forecast, citing planned production cuts by its  customers and higher raw material costs.
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Ford Motor Co  posted a sharply narrower fourth-quarter loss on Thursday after cutting costs but forecast a net loss for the full year 2008 amid fears of a weakening U.S. economy.
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ASBESTOS-RELATED boycotts of James Hardie products have forced the controversial building products maker to slash its profit forecast.
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The retailer cuts its full-year outlook upon experiencing lower-than-anticipated Q1 sales.
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Ford Motor Co. F.N on Thursday  reported a quarterly profit, reversing a year-earlier loss, as  earnings from its finance arm offset weak automotive  operations.
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Nissan Motor Co. , Japan's third-largest automaker, posted a 3.2 percent drop in quarterly operating profit as a worsening product mix favoring smaller, cheaper cars hit margins, and kept its full-year forecasts unchanged despite the weaker yen.