Lexmark slashes profit outlook on weak sales
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Computer printer maker Lexmark International Inc.  slashed its second-quarter earnings outlook, citing disappointing revenue from both hardware and inkjet supplies, driving its shares down 11 percent.
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- Computer printer maker Lexmark International Inc.  cut its second-quarter earnings outlook range, mainly due to less-than-expected inkjet supplies revenue and lower hardware average unit revenue, among other reasons.
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US stocks declined this week as disappointing sales forecasts from technology companies such as Xilinx Inc., Altera Corp. and Texas Instruments Inc.
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Lowe's Cos.  reported lower  quarterly profit on Friday as the battered U.S. housing market  hurt sales.
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U.S. stocks ended lower on Wednesday,  as a reduced revenue outlook from Xilinx Inc. XLNX.O  pressured technology shares, while a dividend hike by American  International Group limited blue-chip losses.
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A continuing decline in advertising revenue pushed second quarter profits lower at two major publishers.
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Levi Strauss & Co. swung to a  quarterly profit on Tuesday, citing cost cuts and a weaker  dollar as the struggling jeans maker closed out poor-performing  products to focus on its Levi, Dockers and lower-priced  Signature brands.
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Lowe's Cos.  reported lower quarterly profit on Friday as the battered U.S. housing market hurt sales.
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Appliance maker Whirlpool Corp.   on Tuesday lowered its profit outlook for 2006 as it integrates  recently acquired Maytag, but said 2007 profit would be higher  than current Wall Street estimates as it realizes cost savings  from the buyout.
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The computer printer maker said second-quarter earnings missed the companyâs forecast, citing disappointing revenue from inkjet printers and cartridges.
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Barnes & Noble Inc. BKS.N, the top  U.S. bookseller, on Monday said quarterly profit fell due to  higher expenses and weaker demand for bestseller titles,  sending its stock down more than 2 percent.
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The retailer cuts its full-year outlook upon experiencing lower-than-anticipated Q1 sales.
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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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GlaxoSmithKline said it would cut jobs as part of a cost-savings plan after a sharp drop in sales of its diabetes drug and generic competition led to a 5.8 percent drop in profits.
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World's biggest printing machine maker lowers its outlook as reduced advertising budgets spell weaker demand.
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DaimlerChrysler DCXGn.DE cut its   2006 operating profit forecast by around 1 billion euros ($1.27   billion) on Friday and predicted U.S. arm Chrysler could lose   1.2 billion euros in the third quarter, much worse than first   thought.
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Office Depot Inc. ODP.N on Tuesday  warned that profit for the rest of the year would fall short of  forecasts because of the string of hurricanes in Florida and  poor sales elsewhere, sending its stock down 6.5 percent.