WaMu Cuts Outlook

Target trims June sales forecast; Jacobs Engineering reduces profit forecast; plus more of today's stocks in the news

Washington Mutual (WM ) cut its 2004 earnings per share guidance to a range of $3.00 to $3.60. The company cited a sustained increase in long-term interest rates. S&P downgraded its recommendation to hold from accumulate. Goldman Sachs reportedly downgraded its recommendation to underperform from in-line. The shares closed lower.

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