Japan Hot Stocks-Toyota drops on grim earnings forecast

May 10th, 2009 - Forbes

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TOKYO, May 11 (Reuters) - The benchmark Nikkei average rose 0.7 percent and the broader TOPIX gained 1 percent on Monday.

The following stock was on the move:

**TOYOTA DOWN, FORECASTS BIGGER-THAN-EXPECTED LOSS**

Toyota Motor Corp ( TM - news - people ), the world's biggest automaker, fell 3 percent to 3,860 yen after it forecast a much bigger-than-expected $8.6 billion annual loss and said it would sell 1 million less vehicles this year.

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