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Honda cuts forecasts again, Toyota losses to balloon TOKYO (Reuters) - Honda Motor Co lowered its annual profit forecasts for a fourth time this year, while rival Toyota Motor Corp's losses are growing as sliding global car sales force the industry to scale back production further. ReutersCanon, Inc. (CAJ) Based in Japan, Canon, Inc. (CAJ) is one of the leading designers, manufacturers, and marketers of office equipment, cameras, and optical products in the world. Canon is a high-technology-oriented company with strategies to develop innovative, value-added products that incorporate advanced technologies.We believe the sharp appreciation of the yen is eroding Canon's revenue and profits. Canon's results for fiscal 2008 were hurt by weak consumer spending and falling demand amid a global economic slowdown. The company's Q4 of 2008 results were disappointing and CAJ cut its forecast for the full year 2009.We believe the company will struggle to meet expectations with its Q1 being extremely tough with a probable increase in losses. We therefore downgrade CAJ shares to Sell with a six-month target price of $25.00. ZacksHonda quarterly profit slumps, cuts annual target TOKYO (AP) - Honda Motor Co.'s net profit tumbled 90 percent in the October-December quarter from a year earlier, hit by the global economic slump. AOLMortgage firm cuts 57 jobs DUBAI: Dubai's troubled Islamic mortgage firm Tamweel said yesterday it would shed 57 jobs as part of a restructuring to mitigate the effects of the global financial crisis. Tamweel is due to merge w... Big News Network |
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Feedzilla is a news aggregator which categorizes news stories by topic. It is a platform where webmasters and bloggers can find an unmatched selection of easy to use, automatically updating and professional news widgets for their sites. Feedzilla supports the building of widgets in various formats, as well as allowing the addition of news widgets to different blogging platforms and social networks.
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