UPDATE 1-CommScope 2nd-qtr profit up, Andrew Corp profit lower

(Reuters) - The company said second-quarter net profit was $61.1
million, or 83 per share, compared to $46.7 million, or 65
cents a share, a year earlier. Revenue rose 26 percent to
$519.1.




Analysts, on average, were expecting earnings per share of
76 cents on revenue of $505.8 million, according to Reuters
Estimates.


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Pitney Bowes swings to quarterly profit

(Reuters) - The year ago figures included costs related to restructuring.




Revenue increased 11 percent to $1.5 billion


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Sepracor results miss; stock plunges

(Reuters) - Net profit fell to $6.1 million, or 5 cents a share, from $11 million, or 10 cents a share, a year ago. Analysts had on average expected earnings of 36 cents a share, according to Reuters Estimates.




Revenue rose a less-than-expected 5 percent to $278.1 million, with sales of insomnia drug Lunesta growing just 3 percent to $143.0 million as it struggled to fight off competition from a generic version of rival Ambien.


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Ingersoll-Rand profit higher, but stock slips

(Reuters) - NEW YORK, July 27 - Industrial conglomerate Ingersoll-Rand Co. Ltd. , in the midst of remaking its portfolio of businesses, reported higher quarterly profit on Friday, reflecting a large gain from discontinued operations.



The company also disclosed it received a notice from the U.S. Internal Revenue Service, proposing adjustments to its past tax filings, and said it would contest the proposed adjustments.


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Mexico's OMA net profit inches higher

(Reuters) - Revenue increased 13 percent to 460 million pesos.




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Sepracor results miss, cuts 2007 outlook

(Reuters) - The Marlborough, Massachusetts-based drug company said net profit fell to $6.1 million, or 5 cents a share, from $11 million, or 10 cents a share, a year ago.




Revenue rose 5 percent to $278.1 million. Analysts, on average, expected revenue of $327.2 million.


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SMIC posts quarterly loss versus year-ago profit

(Reuters) - The 2006 quarter benefited from an $18.9 million tax
credit, which dropped to $1.6 million in the second quarter of
this year.




Revenue grew 3.7 percent to $374.8 million.



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Northrop Grumman profit rises on tech sales

(Reuters) - Northrop, behind only Lockheed Martin Corp. and Boeing Co. in U.S. defense sales, reported quarterly profit of $460 million, or $1.31 per share, compared with $430 million, or $1.23 per share, in the year-ago quarter.




Revenue rose 4 percent to $7.9 billion.


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AT&T profit gains on wireless, Internet

(Reuters) - On an adjusted basis, which excludes costs and accounting effects related to acquisitions, profit rose to 70 cents per share from 58 cents.




Revenue rose to $29.5 billion from $15.8 billion. Adjusted revenue, which combines sales from AT&T, BellSouth and Cingular Wireless in all periods, rose 2 percent to $29.8 billion.


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AT&T quarterly profit gains on wireless, Internet

(Reuters) - On an adjusted basis, which excludes costs and accounting effects related to acquisitions, profit rose to 70 cents per share from 58 cents.




Revenue rose to $29.5 billion from $15.8 billion. Adjusted revenue, which combines sales from AT&T, BellSouth and Cingular Wireless in all periods, rose 2 percent to $29.8 billion.


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UPDATE 1-Mexico's Alfa second-quarter net profit up 21 percent

(Reuters) - Alfa said on Monday its April-June net profit
was 1.3 billion pesos .




Revenue at Alfa, which makes auto parts, petrochemicals and
processed food, rose 46 percent to 28.1 billion pesos.


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UPDATE 1-Mexico's GAP 2nd-qtr net profit rises 55 pct

(Reuters) - Revenue in the quarter rose 16.1 percent to 847 million
pesos, the company said on Monday.




GAP operates 12 airports in Mexico, including Guadalajara,
Tijuana, Los Cabos and Puerto Vallarta.


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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-SunPower earnings drop, targets output growth

(Reuters) - However, it posted a net loss of $5.3 million, or 7 cents
per share, for the quarter from a profit of $1.2 million, or 8
cents per share, a year ago including writedowns of assets and
costs of stock-based compensation.




Revenue for the quarter rose to $174 million from $55
million a year ago.


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UPDATE 1-Scholastic 4th-qtr profit up, sees strong 1st-qtr

(Reuters) - Net income for the fourth quarter rose to $40.4 million, or
93 cents a share, compared with $38.4 million, or 91 cents a
share, in the quarter a year ago.




Revenue rose to $611.7 million from $601 million last
year.


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UPDATE 3-U.S. Bancorp 2nd-qtr profit misses forecasts

(Reuters) - NEW YORK, July 17 - U.S. Bancorp , the
sixth-largest U.S. bank, posted a bigger-than-expected drop in
quarterly profit on Tuesday, as lower lending income and rising
expenses and credit losses more than offset an increase in
fees.




Second-quarter net income for the Minneapolis-based company
fell to $1.16 billion, or 65 cents per share, from $1.2
billion, or 66 cents, a year earlier. Revenue rose 1.5 percent
to $3.51 billion.


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Wells Fargo 2nd-qtr profit rises 9 pct

(Reuters) - NEW YORK, July 17 - Wells Fargo & Co. , the fifth-largest U.S. bank, said on Tuesday second-quarter profit rose 9 percent, as growth in several fee categories offset a decline in mortgage banking income.



Net income for the San Francisco-based company increased to a record $2.28 billion, or 67 cents per share, from $2.09 billion, or 61 cents, a year earlier. Revenue rose 13 percent to $9.89 billion.


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UPDATE 1-Chaparral Steel profit up after agreeing to sale

(Reuters) - Net income for the fiscal fourth quarter was $80.2 million,
or $1.65 per share, compared with $56.1 million, or $1.16 per
share in the same quarter of 2006, said the Texas-based
producer of structural steel beams and bars.




Revenue surged to $488.73 million from $405.55 million,
Chaparral said.


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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.


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S.Africa May trade deficit narrows to 2.7 bln rand

(Reuters) - South Africa recorded a trade deficit of 2.67 billion rand in May, compared to April's 5.67 billion rand shortfall, the South African Revenue Service said on Friday.

Analysts polled by Reuters last week had forecast a deficit of 4.8 billion rand, but the data is notoriously volatile and difficult to predict.


Read more at Reuters Africa