By The Associated Press
Procter & Gamble Inc. on Wednesday said it was lowering its fourth-quarter forecast due in part to the uncertain economies in Europe and China. The world's largest consumer products maker, which makes Tide detergent and Gillette razors, joins a growing chorus of companies saying they are feeling pressured by the global economy.
Here's a breakdown of what these companies have said:
- Procter & Gamble: The company cut its fourth-quarter earnings and revenue forecasts as it faces unfavorable foreign exchange rates, weakness in developed markets and a slowdown in China.
- Actuant Corp.: The industrial products maker said Tuesday its third-quarter net income fell 6 percent, hurt by weakness in Europe and China.
- Adobe Systems Inc.: The software maker on Tuesday trimmed its revenue forecast, in part because of lower demand in Europe.
- FedEx: The package delivery company said Tuesday it expects slow global economic growth will crimp its earnings over the next 12 months. It forecast moderate growth for both the U.S. and global economies, citing the debt crisis in Europe and slowing growth in Asia.
- Synergetics USA: The medical device maker said Monday its third-quarter net income fell as the weak European economy hurt its sales of disposable ophthalmic products.
- McDonald's' Inc.: The world's largest fast-food chain said earlier this month that ongoing global economic volatility and austerity measures in Europe are pressuring its current quarterly results.
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