The earnings decline was well-flagged, as the company had released a profit warning in late March.
Zurich SMI plunged 5.6 percent on the back of Zurich Financial Services' profit warning.
The volatility of individual stocks can be the result of new information, such as a profit warning.
Nortel gained 1.5% today, after declining steeply during the two trading sessions since its Feb. 16 profit warning.
Vodafone, the world's biggest mobile-telephone operator, recently pointed a finger at Spain when it issued a 2008 profit warning.
ECONOMIST: The euro area��s erstwhile star pulls down the whole region
All three sectors have imploded, and so did CTS today after it issued a profit warning of stunning magnitude.
Foxconn International Holdings tumbled 7.4% after core customer Nokia announced a profit warning for the first half of the year.
Nokia, the world's biggest handset maker, issued a profit warning in June, saying its smartphones were struggling against Apple's iPhone.
The news did not come as too much of a surprise as the company issued a profit warning in late March.
The loss was expected, with a profit warning issued in January, while the company's fourth quarter results suggested a turnaround for earnings.
Shares in temporary power firm Aggreko fell by more than 7% on Friday after it issued a profit warning for the year.
The company suffered when the technology bubble burst, dropping out of the FTSE 100 and having to issue a profit warning in 2001.
Merrill said Wednesday it had a targeted range of numbers when it made its profit warning last week that included the bigger figure.
It is the latest technology company to issue a profit warning and it blamed the weakness of the telecoms sector for its poor performance.
After the Japanese close, Sony confirmed plans to cut 10, 000 jobs world-wide as part of a restructuring, following up on a profit warning earlier this week.
Earlier this month, Ford gave a profit warning on its international operations, and this morning, the stark outlook was there in its second quarter press release.
In January, Manganese Bronze had to issue a profit warning, saying that it had made no profit in 2011 and could fall short of expectations this year.
So these numbers are unlikely to shock investors, they don't represent a profit warning, even if the early release of the figures is a bit of a surprise.
Countrywide's profit warning had served as a reminder to investors of persisting troubles in the sub-prime market, analysts said, with some fearing it may spread wider than that.
Puma issued a profit warning and posted a sharp drop in quarterly earnings as the backer of the world's fastest man struggled to transform high-profile sponsorships into robust financial results.
The firm, known for its pest control business, has suffered in recent years - losing both its chairman and chief executive in 2004 following poor results and a profit warning.
Arriva's profit warning comes hot on the heels of a disappointing trading statement from car retailer Car Group which warned that a recent fall in used car prices, depressed demand.
Last week, following a profit warning, Li Ning said it is replacing its chief executive of 20 years with the founder, and investor TPG Group is stepping in to overhaul operations.
Mr Haffa hopes the write-offs will be the last of a series of catastrophes, including mistakes in last year's second-quarter accounts and a profit warning in December that cut forecast earnings by 90%.
In September the company disappointed investors with news that its revenues would barely grow and that there would be no operating profits to speak of in the third quarter its third profit warning this year.
One casualty of the sales slump was UK based supermarket giant, Tesco -- the world's third largest retailer -- which was forced to offer a profit warning in the wake of a disappointing UK Christmas trading period.
Many remember only too clearly how the markets were too slow to respond to 2001 and 2008 slowdowns, initially missing the early warning signs and then underestimating the impact on profit margins.
Thus you have recently listed Internet content provider 36.com warning potential shareholders that the company may never make a profit.
"Tempur-Pedic began warning in mid-2005 about slowing growth and slightly declining profit margins, " says Janjigian.
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