Tower Automotive Trims 3Q Forecast
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Tower Automotive Inc., a maker of car components, on Tuesday said it expects a greater third-quarter loss because of lower vehicle production and higher steel prices during the period.
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Auto parts maker Tower Automotive Inc.  TWR.N said on Tuesday its third-quarter loss would be twice  as deep as previously expected because of lower vehicle  production in North America and higher steel costs.
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Talbots Inc., the women's clothing retailer, cut its third-quarter earnings forecast Wednesday, citing low September 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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Raytheon reported slightly lower third-quarter profit yesterday, hurt by losses from a unit it is selling, and forecast next yearâs profit would fall below Wall Streetâs average estimate.
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German-US auto giant DaimlerChrysler has slashed its full-year earnings forecasts on the back of anticipated losses at Chrysler -- its struggling US arm.
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Shares of Sonic Automotive Inc. SAH.N  and Asbury Automotive Group Inc. ABG.N fell sharply on  Tuesday after both car dealership companies cut their full-year  earnings estimates, citing the recent hurricanes and a  difficult new and used vehicle market.
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DETROIT -- DaimlerChrysler AG's Chrysler Group will cut deliveries to dealers by 90,000 vehicles, or nearly 24 percent, in the third quarter, as falling sales of trucks and SUVs have left it with bloated inventories, DaimlerChrysler Chairman Dieter Zetsche said Tuesday.
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CSM Worldwide, an automotive market forecasting group, is predicting that Toyota will replace Chrysler Group as one of the US&#39;s Big Three automakers -- by 2009.
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Chip maker PMC-Sierra Inc. cut its third-quarter revenue outlook on Monday, citing reduced deployment of digital subscriber line equipment by Asian service providers in the second half of 2004.
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Toyota Motor Co (7203.T) President  Katsuaki Watanabe said on Tuesday he expected a slight decline  in the U.S. auto market in 2007 to around 16.3 million units.
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Ford Motor Co. raised its forecast for third-quarter earnings by 10 cents a share and said it would end unprofitable Jaguar car production at a Coventry, England, plant and pull out of Formula One racing.
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The auto parts retailer turns to profitability but sees key sales effort fall below last year.
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The number 1 U.S. automaker slides on 5.2% reduction in December sales.
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Talbots Inc. (TLB.N: Quote, Profile, Research) on Wednesday cut its estimates for its third-quarter earnings, saying recent hurricanes and more price-conscious customers were making its September sales unexpectedly weak.
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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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The chipmaker says its revenue for the ongoing quarter will be $8.3 billion to $8.6 billion, down from the previous estimate of $8.