Philips cuts sales forecast
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Dutch electronics giant Royal Philips Electronics NV said it had lowered its outlook for semiconductor sales in the third quarter, as had been widely expected by analysts.
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Housewares retailer Williams-Sonoma Inc. (WSM.N: Quote, Profile, Research) on Thursday cut its forecasts for fourth-quarter sales and earnings per share, and its shares fell 6 percent.
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Morgan Stanley on Friday cut its forecast for retail sales growth in 2008, saying that the current "turmoil" in the credit markets will lead to declines in consumer wealth and available credit as well as more modest job growth in the U.S.
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Two days after announcing that the head of its semiconductor business will leave the company, Koninklijke Philips Electronics NV on Friday lowered its forecast for the chip division&#39;s third-quarter sales.
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Royal Philips Electronics NV, Europe&#39;s third-largest maker of semiconductors, reduced its third- quarter chip sales forecast as demand wanes, joining companies including Texas Instruments Inc.
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Home improvement retailer Home Depot  Inc.  on Tuesday cut its 2007 earnings outlook, citing  weakness in the U.S. housing market.
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Sony Corp. on Thursday cut its operating  profit estimate for this business year by 31 percent, citing  sharply falling prices of televisions, video cameras and other  key consumer electronics products, and weak demand for chips.
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The Sony Corporation warned that sales and profit would probably fall short of its forecasts because of declining prices for DVD recorders and video cameras.
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Electronics giant Sony cuts its operating profit target for this business year by almost a third, blaming falling product prices.
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Blog: LCD TV sales dropped a bit in the first quarter from the last three months, and Philips bore the brunt.
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US retailers are expected to post modest November sales this week, with No. 1 retailer Wal-Mart Stores Inc. already cutting its holiday outlook on high oil prices and warmer weather.
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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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A spokesman for Netherlands&#39;electronics company Philips denies an earlier report that Philips will withdraw from the domestic appliances market and transform itself into a manufacturer
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Home improvement retailer Home Depot Inc.  on Tuesday cut its 2007 earnings outlook, citing weakness in the U.S. housing market.
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AMSTERDAMâRoyal Philips Electronics NV, Europe&#39;s top consumer electronics group, cut the sales forecast for its closely watched chip unit yesterday and predicted much smaller growth for the semiconductor industry next year.
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The world's top cellphone  maker Nokia on Tuesday cut its profit margin forecasts for the  next two years and joined market analysts in forecasting slower  growth for the global mobile phone market in 2007.
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Dutch electronics manufacturer  Philips Electronics published fourth quarter earnings above  analysts' estimates and unveiled a share buyback, but warned on  Thursday that the world economy made it cautious.