EMI Stock Drops

Stock in EMI dropped 10 percent February 14th after the company issued its second profit warning in as many months.

EMI blamed poor North American CD sales and forecasted that recorded music sales revenue would decline approximately 15 percent on a constant currency basis for the 2006 fiscal year.

Profit for the 12 months to the end of March will be "significantly below current market expectations," the company said.

EMI shares dropped 11.3 percent in afternoon trading on the London Stock Exchange after losing as much as 15 percent earlier in the session.