111.   American Express had warned last month that its earnings would be reduced because of the attacks and the subsequent economic weakness in travel and recreation.

112.   Analysts said the banking sector was battered by fears of a possible default on loans by property developers that could further reduce the earnings of banks.

113.   CINTRA, the holding company for Mexicana and Aeromexico airlines, also said its earnings were reduced in the last quarter for the same reason.

114.   Fear of rising interest rates which will reduce corporate earnings also dampened sentiments, the analyst said.

115.   It also reduces earnings of export-oriented Japanese companies.

116.   Japanese officials are concerned that a strong yen makes Japanese exports more expensive abroad and thus less competitive, reducing earnings of export-oriented Japanese exporters.

117.   Many agents have complained that caps would eliminate jobs and reduce earnings.

118.   Merrill Lynch reduced its earnings forecast for the chipmaker, citing slowing sales and increasing competition.

119.   The automotive parts manufacturer reduced its earnings forecast, citing rapid deterioration of market conditions.

120.   The company also reduced its earnings forecast for the second quarter and year.