Toshiba has slashed a forecast for operating profit and sales next fiscal year made before the global recession drove the company to post its first net loss in seven years. It will also cut capital spending to 1.1 trillion yen for 2009 to 2011, from 1.64 trillion yen in the preceding three-year period.

Shares of solar-energy company LDK Solar rose sharply on July 24 after the Chinese company raised its second-quarter revenue and shipment forecasts. LDK plans to report its results on August 12.

The Economist Intelligence Unit forecasts that Taiwan's real GDP will contract by 6.5% in 2009. The poor economic and financial environment abroad will continue to undermine Taiwan's growth prospects in 2010, when the economy is forecast to expand by just 0.6%.

Semiconductor equipment maker Novellus Systems has posted disappointing margins and a wider-than-expected loss, but a robust forecast helped limit share losses in late trade.

There is considerable debate about second-half 2009. Some are bulls. Some are bears. Some are in both camps.

Semiconductor market statistician Mike Cowan now predicts 2009 global semiconductor sales will be US$196.2 billion, up by 1.9% from the previous month's forecast estimate of US$192.5 billion.

The World Bank has raised its forecast for growth in China this year from 6.5% to 7.2% amid signs that the economy is doing better than expected.

Sanyo Electric, the rechargeable-battery maker being acquired by Panasonic, forecast an increase in annual operating profit, beating analyst estimates.

Internet search company Yahoo announced Tuesday that it would slash 5% of its workforce, as it reported a first-quarter profit that fell sharply from a year earlier but still managed to beat Wall Street's forecasts.