The operating profit guidance is clearly below (expectations).

Today's drop is because of missed earnings expectations for the fourth quarter and also that the guidance for the 2006 production was slightly underwhelming.

Tiffany reported earnings above our expectations ... first-quarter guidance appears light.

The guidance is going up and the numbers were above expectations across the board, particularly on the integration of Allied. It's pretty good news all round.

It's a savage profit warning for the UK, with numbers for 2006/07 likely to shift materially below current expectations. You are probably looking at cuts of between 30 and 50 percent.

Investor expectations about profit gains at brokerages grew stronger.