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This will prevent a rapid economic rebound, and is likely to heighten calls for a second fiscal stimulus package.
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Part of the debate is over whether to allow sequestration to remain in place for a second fiscal year.
DoubleClick reported a net loss of $5.1 million for the second fiscal quarter on "system revenue" of $44 million.
Federated, which is based in Cincinnati, projected earnings of 40 to 50 cents a share, or $78 million to $97 million, excluding restructuring charges, for its second fiscal quarter ending Aug. 4.
The company now expects revenues for the second fiscal quarter to drop 5.0% to 10.0%.
Earlier this month, tech bellwether Cisco likewise revised its outlook for the second fiscal quarter of 2009, projecting sales to drop 5% to 10% instead of growing 7.5% to 9.5%.
We will report, in detail, on the progress we are making when we issue our results for the second fiscal quarter of 2001 later this month".
Disney reported net income of $438 million, or 21 cents a share, for its first fiscal quarter, compared with a loss of $36 million in the period a year earlier.
Ameritrade said in a statement that it expected a loss for the first fiscal quarter, ended in December, to be 12 cents to 14 cents a share, compared with a loss of 12 cents a share in the quarter a year earlier.
Disney reported net income of $438 million, or 21 cents a share, for its first fiscal quarter, in contrast with a loss of $36 million in the period a year earlier.
Micron Technology, the nation's largest maker of computer-memory chips, reported an unexpected loss of 14 cents a share for its fourth fiscal quarter on weak demand for personal computers.
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