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The company cited shrinking margins and the cost of plant upgrades for the lower forecast.
The lower forecast reflects, among other things, reduced expectations for electricity plants in Argentina and Australia.
The company said the lower forecast was a result of the falling United States dollar and the weak bond market.
The lower forecast on shipments indicates that the global economy has a way to go to a full recovery.
3M set a negative tone with a downbeat view on the economy and a lower forecast for full-year earnings.
The lower forecast is mostly a result of reduced interest income as hotel developers repay loans from the company, a spokeswoman for Marriott, Laura Paugh, said.
Similar(40)
The costs, and the increased shareholder payouts, led to the lower forecasts, Wendy's said.
But gloomier prospects for the American economy also contributed to SBC's decision to lower forecasts.
That eased concern among investors, who have seen companies like Lucent Technologies, Motorola and others lower forecasts.
National Semiconductor is the latest company in the wireless-phone industry to lower forecasts for revenue or profit.
Nortel is the latest telecommunications equipment maker to lower forecasts and abolish jobs as demand for gear and parts wanes.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com