1.   As the hurricane season begins today, forecaster William Gray has reduced his forecast for likely storms, but with a warning that even one hurricane is a threat.

2.   Both analysts declined to say how much they might reduce forecasts.

3.   A dozen other Japanese banks have speeded up their disposal of bad debt and reduced profit forecasts.

4.   After the market closed, Intel reduced its forecast for revenue and gross margins in the second quarter.

5.   Economists sharply reduced their forecasts for Germany just a few months ago, and many are now doing so again.

6.   Even so, he reduced his forecast for Fed rate increases to a half point between now and year-end, from his earlier projection of a full percentage point.

7.   Gray said he has been reducing his forecast because Atlantic Ocean surface temperatures have been cooler than expected in April and May.

8.   However, the profit forecasts had been reduced several times over the last couple of months.

9.   In addition, more corporate earnings disappointments are expected, and Wien said he believed that analysts had yet to reduce earnings forecasts enough to take account of that.

10.   That has led the central bank to reduce growth forecasts.