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Strategies & Market Trends : Technical analysis for shorts & longs -- Ignore unavailable to you. Want to Upgrade?

To: Johnny Canuck who wrote (40253)	9/19/2003 8:05:24 PM
From: Johnny Canuck	Read Replies (1) \| Respond to of 70098

4:22PM Kyocera cuts profit, sales forecast (KYO) by Mike Tarsala SAN FRANCISCO (CBS.MW) -- Tokyo's Kyocera Corp. (KYO) on Friday cut its first-half profit target 41 percent, due to weak sales of cell phones and multifunction copiers. The company said it expects net income in the first half, ended Sept. 30, of 13 billion yen, and sales of about 520 billion yen. The company had previously forecast earnings of 22 billion yen, on sales of 550 billion yen. U.S.-traded Kyocera shares fell $4.57, or nearly 7 percent, to close at $64.68 on the New York Stock Exchange. [Harry: That is a huge miss. It means low prices entry level products are not doing all that well. That should put extreme pricing pressure on suppliers.]