National trims sales expectations
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National Semiconductor has lowered its revenue expectations for its second business quarter. The new guidance for the quarter calls for revenues to range from $445m to $450m, down about 18 per cent to 19 per cent sequentially.
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Sales were lower than expected, and the quality of earnings is in question.
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Analog chipmaker National Semiconductor Corp. (NSM.N: Quote, Profile, Research) on Thursday posted better-than-expected quarterly earnings and revenue, as
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Best Buy Co Inc  cut its fiscal  2008 profit outlook on Friday, blaming in part  lower-than-expected sales growth in January.
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Stock futures trimmed gains on Thursday after government data showed an unexpected decline in orders for durable goods and a fall in jobless claims that was smaller than expected.
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Texas Instruments Inc. TXN.N,  the largest maker of chips for cell phones, trimmed its  third-quarter revenue outlook on Wednesday as customers worked  off inventories of unsold chips, making it the second major  chip supplier to pare third-quarter expectations.
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Investor's Business Daily - The National Retail Federation said 33.4% of shoppers plan to spend less this year than last year while only 16.4% plan to spend more. The NRF has forecast the smallest sales gain in 5 years as falling home prices, higher food and energy costs and the credit crunch sap spending. Holiday sales account for 25% to 40% of retailers' annual revenue.
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Treasury prices closed with light gains Tuesday, after homebuilder Lennar Corp. reported a sharply higher than projected loss and a national report showed existing home sales at a five-year low in August.
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Volkswagen narrowed its North American first-half loss by reducing discounts and warranty claims and concentrating on sales of the most profitable models, the company said. Volkswagenâs sales have fallen this year in the United States as the company prepares new models for 2008. The company sold 91,743 vehicles in the United States in the first five months, a 4.4 percent drop from a year earlier. Sales in 2007 will be flat, Mr. Hallmark said.
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Investor's Business Daily - The National Assoc. of Realtors cut its &#39;07 outlook for the fourth consecutive month. Home resales will fall to 6.18 mil from last month&#39;s forecast of 6.29 mil and well below the initial 6.42 mil forecast. The median existing-home sales price will fall 1.3%, more than the previously forecast 1% slide. The median new-home price will fall 2.3% to $240,800, reversing the Jan. forecast for a 2% gain, NAR said.
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The retailer lowers its outlook after same-store sales fall.
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Bookseller Borders Group Inc.  BGP.N on Tuesday slashed its financial forecast, saying sales  were weaker than expected due in part to hurricanes, and that  profits during the key holiday season would miss Wall Street  estimates.
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WASHINGTON -- A trade group for real estate agents on Tuesday lowered its forecast 2007 existing home sales for the eighth-straight month, predicting a drop of 8.6 percent from last year.
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Housewares retailer Williams-Sonoma  Inc. WSM.N on Thursday cut its forecasts for fourth-quarter  sales and earnings per share, and its shares fell 6 percent.
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A leading forecaster of advertising spending has again lowered his estimate for growth in the U.S. this year.
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National Semiconductor Corp.  NSM.N, a maker of chips used to manage power consumption in  electronics, on Thursday said quarterly profit rose, helped by  a one-time gain and a tax benefit, and it forecast a  smaller-than-usual sales decline in the current quarter.
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( in paragraph nine group sales in North America has been  corrected to "slipped 0.5 percent to 530,630." In paragraph 10  the year has been corrected to 2009)