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Ingram Micro (IM) posted third-quarter revenue of $8.28 billion, short of the Street consensus of $8.44 billion. Profits of 27 cents a share, however, beat the Street by four cents. The company said that it suffered “softening demand” in its three largest regions, and decided to “walk away from unprofitable business.”

Internet giant Yahoo! yesterday (October rolled out an updated version of its Web-based calendar, in its latest bid to stay ahead of rival Google.

A beta, or test, version of Yahoo! Calendar that went online boasts an array of upgrades that include breaking down walls between rivals by making it compatible with free calendar services offered by Google, Apple, Mozilla and Microsoft.

Cowen’s Louis Miscioscia this morning trimmed his estimates on the contract electronics manufacturers Flextronics (FLEX), Jabil (JBL) and Sanmina-SCI (SANM) following a recent series of warnings from companies like Corning (GLW), Dell (DELL), Ingram Micro (IM), Nokia (NOK), Nortel (NT) and others.

Miscioscia says Cowen’s checks find IT spending still holding up well in the U.S., but with Europe weaker. And he notes that there are concerns that “if the stock market doesn’t stabilize soon, what happens on Wall Street will alter the buying plans on Main Street.”

In another signal that demand for technology goods is slowing, Ingram Micro (IM) this morning reduced its guidance for its fiscal third quarter ending September 27.

Ingram, the world’s largest IT distributor, now sees Q3 revenue of $8.3 billion to $8.6 billion, with profits of 18-23 cents a a share, including 2 cents a share in costs related to an expense-reduction plan in North America and Europe. The company had previously forecast sales of $8.5 billion to $8.8 billion, with profits of 31-36 cents a share, including 3 cents a share in expense-reduction related expenses.