Sony has blamed lower-than-expected sales, loss of exclusive titles in the PlayStation 3 software library, its higher price, and stock shortages.

Nordstrom fell 8 1/2, to 33 3/4, after the specialty retailer projected sharply lower-than-expected third-quarter sales and earnings results.

The company attributed the loss in the latest third quarter in part to factory delays resulting in lower-than-expected sales.

The impressive results came despite lower-than-expected sales at the General Motors Corporation.

Even with the early start to the holiday season, many companies reported lower-than-expected sales.

Philip Morris, the cigarette maker, sharply cut its annual profit forecast for the second time this year because of lower-than-expected sales and higher promotional spending.

Shares of Nortel have tumbled in the last several weeks after the company reported lower-than-expected sales of optical networking.

A result, he added, is the further decline of downtown shopping areas, new shopping centers without tenants and disappointment among retailers about lower-than-expected sales.

All heart device makers have been reporting lower-than-expected first-quarter sales.

Kimberly-Clark, on the other hand, warned that first-quarter earnings would be below expectations because of price competition in Europe and lower-than-expected sales.