11.   Several analysts downgraded forecasts for full-year earnings.

12.   The warnings prompted analysts to downgrade profit forecasts amid expectations the company would abandon efforts to buy a major stake in Kolbenschmidt AG, a German pistons maker.

13.   European stock markets closed down Tuesday, with technology and telecoms stocks falling after U.S. brokerage Merrill Lynch downgraded its forecast for the mobile-phone sector.

14.   Many economists downgraded their forecasts for second quarter GDP on Tuesday following the release of weaker than expected corporate spending data for the same period.

15.   Nortel Networks and ADC Telecommunications are also downgrading forecasts.

16.   The International Air Transport Association said Thursday it had downgraded its forecasts for worldwide aviation growth because of the Asian economic crisis.