UPDATE 2-IndyMac Bancorp profit down 57 pct on mortgage woe

(Reuters) - The company also suspended providing a financial forecast
with earnings, citing what Chief Executive Michael Perry called
"the significant current uncertainties in the housing and
mortgage markets."




Net income for the Pasadena-based parent of IndyMac Bank,
which is also one of the largest U.S. savings and loans, fell
to $44.6 million, or 60 cents per share, from $104.7 million,
or $1.49, a year earlier. Revenue declined 21 percent to $297.8
million.


Read more at Reuters.com Market News

Rhodia Q2 net 3 mln euros, confirms targets

(Reuters) - Rhodia reported recurring second-quarter earnings before
interest, tax, depreciation and amortisation of 203
million euros, up 22 percent, and operating profit of 119
million euros, up 32 percent.




Revenues rose 6.8 percent to 1.293 billion euros.


Read more at Reuters.com Market News

UPDATE 2-Royal Caribbean profit up but lowers view

(Reuters) - Royal Caribbean, the world's second-largest cruise operator
after Carnival Corp. , said second-quarter net profit
rose to $128.7 million, or 60 cents per share, from $122.4
million, or 57 cents per share, in the same quarter last year,
boosted by cost-cutting and firmer pricing.




Revenues rose to $1.5 billion from $1.3 billion, as the
addition of Spanish cruise line Pullmantur helped increase
capacity by 12 percent.


Read more at Reuters.com Market News

Rolls-Royce H1 underlying pretax rises 17 pct

(Reuters) - The maker of engines for aircraft and ships as well as
turbines for the energy industry said sales on an underlying
basis rose 10 percent.




Revenues from services rose by 9 percent and made up 53
percent of the total.


Read more at Reuters.com Market News

UPDATE 1-RPC quarterly profit falls as competition hurts pricing

(Reuters) - The results came in well below what analysts had expected,
sending the company's shares down nearly 15 percent to $13.00
in afternoon trade on the New York Stock Exchange.




Second-quarter earnings fell to $23.8 million, or 24 cents
a share, compared with $27.6 million, or 28 cents a share, a
year ago. Revenue rose 17 percent to $171.0 million.


Read more at Reuters.com Market News

Waters Q2 profit rises

(Reuters) - The Milford, Massachusetts-based company posted a net profit of $59.9 million, or 59 cents a share, compared with $47.8 million, or 46 cents a share, a year ago.



Revenue rose to $352.6 million from $301.9 million a year ago.


Read more at Reuters.com Market News

UPDATE 1-Plum Creek's second-quarter profit slips

(Reuters) - Net earnings were $60 million, or 34 cents per share,
compared with $62 million, or 34 cents per share, in the year
ago period, the Seattle-based timber and real estate company
said.




Revenue rose to $395 million from $380 million in the 2006
second quarter.


Read more at Reuters.com Market News

Mexican Peso Declines After China Raises Interest Rates to Cool Expansion

(Bloomberg) -- Mexico's peso fell after China raised
interest rates, sparking speculation that demand for commodities
including oil, Mexico's biggest export, will fall.

Revenue from oil exports is Mexico's biggest source of
dollar inflows and funds almost 40 percent of government
spending. Oil for September delivery fell 0.1 percent to $76.01 a
barrel at 10:51 a.m. in New York.


Read more at Bloomberg Currencies News

UPDATE 1-Intuitive Surgical quarterly earnings rise

(Reuters) - For the second quarter, the company earned $30.7 million,
or 79 cents a share, up from $16.7 million, or 44 cents a
share, in the prior-year quarter. Revenue rose 61 percent to
$140.2 million.




Analysts were expecting earnings of 67 cents a share,
excluding items, on revenue of $124.5 million for the quarter,
according to Reuters Estimates.


Read more at Reuters.com Market News

Clearwire, Foot Locker, OptionsXpress, Regal-Beloit: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 9:35 a.m. in New York.

Avici Systems Inc. (AVCI US) rose $2.74, or 33 percent, to
$11.16. The maker of equipment that directs Internet traffic said
in a statement sent by Business Wire that second-quarter net
income rose to 82 cents a share from 58 cents a year earlier.
Revenue increased to $29.6 million from $25.3 million.


Read more at Bloomberg Stocks News

GE profit up 9.6 percent, to exit subprime

(Reuters) - Revenue rose 12 percent to $42.32 billion.




During the quarter, GE reached an $11.6 billion deal to
sell its plastics business, which had been a drag on growth.
The company said on Friday it had decided to exit the subprime
lending business.


Read more at Reuters.com Mergers News

Yum 2nd-qtr profit up 12 percent

(Reuters) - In the same period last year, Yum earned $192 million, or 34 cents per share.




Revenue rose 9 percent to $2.37 billion, compared with an average analyst estimate of $2.29 billion, according to Reuters Estimates. Same-store sales across all of Yum's restaurants rose 2 percent during the quarter.


Read more at Reuters.com Business News

Alcoa Q2 profit slips; extends Alcan offer

(Reuters) - Alcoa also extended its $28.6 billion offer to acquire Canadian rival Alcan Inc by a month. The offer, which has been rejected by Alcan, was due to expire on Tuesday.




Alcoa said earnings from continuing operations were $716 million, or 81 cents per share, compared with $749 million, or 85 cents per share, in the same quarter of last year. Revenue rose to $8.1 billion from $7.8 billion.


Read more at Reuters.com Business News

UPDATE 1-Steelcase posts higher profit

(Reuters) - The company said it earned $33.6 million, or 23 cents a
share, in its fiscal first quarter, up from from $18.2 million,
or 12 cents a share, a year earlier. Revenue rose 11.2 percent
to $808.5 million, from $727.3 million a year ago.




The results were better than expected. Analysts on average
expected the Grand Rapids, Michigan-based company to report a
profit of 19 cents a share on revenue of $785.3 million,
according to Reuters Estimates.


Read more at Reuters.com Market News

Best Buy quarterly profit falls

(Reuters) - Analysts, on average, had been expecting it to earn 50 cents per share, according to Reuters Estimates.




Revenue rose to $7.93 billion, beating analyst targets of $7.83 billion.


Read more at Reuters.com Market News

Adobe quarterly net rises on Acrobat, design suite

(Reuters) - Net income for the fiscal second quarter to June 1 rose to
$152.5 million, or 25 cents per diluted share, from the
year-earlier quarter's $123.1 million, or 20 cents per share.
Excluding one-time items, Adobe reported on Thursday a profit
of 37 cents, a penny above Wall Street's consensus.




Revenue rose 17 percent to $745.6 million, in the middle of
the range of analysts' forecasts.


Read more at Reuters.com Market News

Adobe quarterly net rises, revenue in line

(Reuters) - Revenue rose 17 percent to $745.6 million, in the midpoint
of analysts' forecasts.




Wall Street was looking for a net profit of 27 cents per
share, according to the average of Reuters Estimates. Excluding
stock option expenses and one-time items such as acquisition
costs, the analysts' profit consensus was 36 cents a share.


Read more at Reuters.com Market News

Freddie Mac Has Third Straight Quarterly Loss on Lower Derivatives Returns

(Bloomberg) -- Freddie Mac, the second-largest source
of money for home loans, reported its third consecutive quarterly
loss after a drop in the value of derivatives it uses to hedge
interest rate risk.

The net loss was $211 million, or 46 cents a share, compared
with net income of $2 billion, or $2.80 a share, a year earlier,
the McLean, Virginia-based company said today in a statement.
Revenue from providing guarantees on mortgage bonds jumped 11
percent to $460 million.


Read more at Bloomberg Bonds News

S.Africa April trade deficit widens to 5.7 bln rand

(Reuters) - South Africa's trade balance drifted further into deficit in April, recording a shortfall of 5.67 billion rand from a 2.7 billion rand gap in March, the South Africa Revenue Service said on Thursday.

The data follows two months of relatively small deficits and will keep pressure on the country's current account, which hit a shortfall of 7.8 percent of gross domestic product in the fourth quarter of 2006.


Read more at Reuters Africa

Mr Price lifts year earnings by 27 pct

(Reuters) - South African fashion and homeware retailer Mr Price increased full-year diluted headline earnings by 27 percent to 183.6 cents per share, the company reported on Thursday, and said it had set new revenue and operating margin targets.

Revenue from continuing operations rose 24 percent to 6.1 billion rand.


Read more at Reuters Africa