DOW JONES NEWSWIRES
Below is a synopsis of major quarterly releases from Monday morning:
Humana Results Aided By Medicare Advantage
Humana Inc.'s (HUM) second-quarter earnings rose 34% as revenue rose despite falling enrollment on strong gains at its Medicare Advantage business, where profit surged 62%. Its stock rose 1.2% to $33.25.
Tyson Income Soars As All Units In Black
Tyson Foods Inc.'s (TSN) fiscal third-quarter earnings surged, topping analysts' expectations, amid rising chicken prices and volumes as well as falling grain costs and inventories. Chief Executive Leland Tollett said all of its segments were profitable in the quarter, but warned soft demand will likely make the current period more challenging. Shares fell 3% to $11.08.
Loews, CNA Post Lower Profit Amid Investment Losses
Loews Corp.'s (L) second-quarter profit slumped on a prior-year gain from discontinued operations, and its unit insurer CNA Financial Corp.'s (CNA) had a 42% earnings drop, as investment losses continue to pressure the companies' results. While CNA's operating income was widely above analysts' expectations, Loews fell a good bit short. Still, Loews' stock climbed 4.1% to $31.25 while CNA jumped 10% to $18.80.
Hampton Road Bank In Red, Plans Big Stock Sale
Hampton Roads Bankshares Inc. (HMPR) swung to a loss as it announced a highly dilutive stock offering and dividend suspension. Shares slumped 26% to $3.80.
RRI Profit Soars On Sale; Core Loss Worse Than Thought
Income at RRI Energy Inc. (RRI), the former Reliant Energy, more than doubled on a gain from discontinued operations as revenue and demand continued to slump. Shares rose 3.7% to $5.55 even as the latest quarter's loss from continuing operations was wider than expected.
Clorox Earnings Up 7.6% On Higher Margins
Clorox Co.'s (CLX) fiscal fourth-quarter profit rose 7.6% on increased margins, despite flat revenue, as earnings beat analysts' views. But its stock fell 3.6% to $58.84.
Marathon Profit Down 47% On Price Slump
Marathon Oil Corp.'s (MRO) second-quarter earnings fell 47% as sharply lower prices from last year's peak more than offset mostly increases in volume, helping push earnings below analysts' expectations. Still, shares rose 0.9% to $32.55 as revenue was well above estimates.
MGM Mirage Posts 2Q Loss; Strip Revpar Slumps 31%
MGM Mirage (MGM) swung to a loss amid charges and falling revenue as the debt-laden casino giant said demand is still down but it has seen some signs of a pickup in bookings. Its stock rose 2.1% to $7.38.
Molson Coors Profit Jumps On U.S. Joint Venture
Molson Coors Brewing Co.'s (TAP) profit more than doubled amid the company's U.S. joint venture with SABMiller PLC (SAB.JO) while results topped analysts' expectations with Coors Light volume up 3%. Molson Coors' shares edged higher.
FirstEnergy Earnings Up 55% On Asset Sale
FirstEnergy Corp.'s (FE) earnings rose 55% on divestiture, though the electric utility's volume fell 9%, mostly because of a 21% drop in industrial usage and cooler-than-usual weather. Its stock rose 1.1% to $41.65.