Microsoft said last night its quarterly earnings rose 81 per cent but forecast weaker-than-expected profit in the current business year.

Earlier this week, Jacobs' larger rival Fluor Corp posted a lower third-quarter profit, hurt by weak demand, and forecast weaker profits for 2010.

Earlier this week, Medifast forecast weaker-than-expected full-year sales, while Weight Watchers said last month revenue this quarter would fall by a low double-digit percentage.

HMA on Tuesday forecast weaker-than-expected second-quarter earnings of 10 cents to 11 cents a share due to lower hospital admissions.

Shares in Samsung Electronics, the world's No.1 memory chip maker, fell 1.3 percent after the company forecast weaker-than-expected fourth quarter earnings.

World trade has already contracted this year with analysts forecasting weaker trade next year.

On Thursday, the European Central Bank provided the latest warning about Europe's dimming outlook, forecasting weaker-than-expected growth in the near term.

The Treasury is forecasting weaker economic growth, but says a return to budget surplus remains on track, although that surplus will be smaller.