CarMax cuts full-year outlook
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CarMax Inc , the No. 1 used-car retailer in the United States, posted higher quarterly earnings and sales on Wednesday, but cut its full-year outlook due to the tough automotive retail market, sending its shares down more than 12 percent.
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Car buyers will face a new form of sticker shock when they browse dealer lots next year: Mileage estimates will be down, reflecting the way people actually drive.
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The world's largest retailer cuts its November sales growth forecast amid signs that high fuel costs may be deterring shoppers.
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Electric motor maker A.O. Smith cuts full-year earnings estimates in half.
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Hannover Re, the world's fifth-biggest reinsurer, is cutting its full-year profit forecasts as damage claims piled up in connection with the recent spate of hurricanes and typhoons in the US and the Asia-Pacific region.
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Chrysler said it would cut its production schedule for the rest of the year by 16 percent because of slumping sales as a result of high gas prices.
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Auto retailer reports that profit fell 6 percent in the third quarter as sales of new cars declined. DETROIT  - Auto retailer CarMax Inc.
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The company cuts its 2004 earnings outlook by 20%, citing many reasons.
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Ford Motor Co  posted a sharply narrower fourth-quarter loss on Thursday after cutting costs and boosting profits from vehicle sales, but it forecast a net loss for the full year 2008.
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Ford Motor Co. F.N on Friday said it   will slash $5 billion in costs and cut nearly 45,000 jobs,   about one-third of its work force, in a sweeping restructuring,   and warned that its North American unit won't make a profit for   another three years.
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Auto retailer CarMax Inc. KMX.N on  Tuesday cut its second-quarter earnings forecast due to  slower-than-expected used-car sales, sparking a 3.7 percent  drop in its shares.
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Unilever, the world&#39;s largest maker of food and soap, cut its full-year earnings forecast after sales of ice cream and cold drinks slumped in Europe and demand for beauty and laundry products slowed.
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Ford Motor Co  posted a sharply narrower fourth-quarter loss on Thursday after cutting costs and boosting margins on vehicles and said it expects a net loss for the full year 2008.
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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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Ford Motor Co. F.N, the No. 2 U.S.   automaker, on Friday said it will cut annual costs by about $5   billion by the end of 2008 and reduce salaried staff by   one-third, or 14,000 jobs, accelerating a restructuring plan.
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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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After a slow start, the auto giant lowers its full-year expectations.