Here comes the wave of profit warnings

IT is not just Bradford & Bingley, the mortgage bank, that is going to have to issue a profit warning. Just about every quoted company that has benefited from the last property boom — from housebuilders and estate agents to financial services and developers — is seeing profits go into freefall.

Sony Ericsson issues second profit warning of the year, hopes to break even in Q2

Although Sony Ericsson just churned out a rather impressive array of new handsets this month, it seems the outfit is still having trouble securing record-setting profits. Truthfully, it's struggling to break even, as evidenced by the second profit warning of 2008 that was issued last week. SE is pinpointing "disappointing European sales of its mid- and high-end mobile phones" as the reason it will likely not see a profit in Q2, and some analysts are suggesting that shipment delays and a dearth of low-end handsets also carry a share of the blame. 'Course, the hotly-anticipated Xperia X1 could certainly make for a lovely Q3, but only time will tell if enough folks shell out for it to make a difference.Read | Permalink | Email this | Comments

UBS Likely to Issue Profit Warning

UBS is expected to issue a profit warning amid continued deterioration in the mortgage-backed-securities market.

Merrill shares fall on rumors of profit warning (Reuters)

Reuters - Merrill Lynch & Co shares fell 5.5 percent Friday on rumors that the investment bank may issue a profit warning and take additional write-downs on its mortgage holdings, traders said.

Sony issues profit warning after weak first quarter (AFP)

AFP - Japan's Sony Corp. issued a profit warning Tuesday after its first-quarter net earnings slumped by almost half from a year earlier amid tough business conditions.

Woolworths shares crash to seven-year low after profit warning

Shares in Woolworths crashed this morning to a seven-year low after the retailer issued a profit warning, saying that sales declined in the first half.