Microchip Technology Profit More Than Triples

Microchip Technology Inc. (MCHP) said Thursday after the markets closed that its first quarter profit more than tripled from last year, as sales surged and margins improved sharply amid strong performance by both its microcontroller and analog businesses.

Weight Watchers Q2 Profit Drops On Higher Costs; Raises Lower End Of FY10 EPS

Weight management services company Weight Watchers International Inc. posted a lower second-quarter profit despite a slight rise in revenues from its Internet segment, due to an increase in interest and marketing expenses. Also, the company tightened the lower end of its earnings guidance for fiscal 2010.

Fannie Mae Q2 Loss Narrows; Seeks $1.5 Bln Federal Support

Government-sponsored home mortgage finance company Fannie Mae reported a loss for the second quarter that narrowed from last year on lower credit related expenses, impairments and fair value losses. Further, the company said it has applied for additional $1.5 billion aid from the federal government and is dependent on the continued support of Treasury for operation of its business.

Mohawk Industries Q2 Profit Up; EPS Tops Street; Stock Up

Mohawk Industries Inc. (MHK), a maker of floor covering products reported Thursday after the markets closed, a rise in profit for the second quarter, helped by a non-recurring tax benefit and lower restructuring charges, while revenues declined slightly during the period falling short of Street expectations. Quarterly adjusted earnings per share dropped from the year-ago period, but came in ahead of analysts’ estimates.

PerkinElmer Q2 Profit Soars, Tops Street; Lifts FY10 View

PerkinElmer Inc., a provider of technology, services and solutions to the healthcare industry, reported a rise in profit for the second quarter, driven mainly by higher revenues from Human Health and Environment Health segments. Earnings per share came in ahead of Street estimates, as did revenues. Looking ahead, the company raised its earnings outlook for fiscal 2010, reflecting the strong performance in the first half of the year.

Southwestern Energy Q2 Profit Edges Up, Miss Estimate

Natural gas and oil producer Southwestern Energy Co. reported a marginal increase in its second quarter earnings, despite a strong revenue growth as the company’s higher production was offset by lower pricing and higher expenses. Earnings results for the quarter missed analysts’ estimate by a penny. Looking ahead, the company reaffirmed its third and fourth quarter production outlook.

Activision Blizzard Q2 Profit Rises 12%, Tops Estimate; Backs CY10 Outlook

Video-game publishing giant Activision Blizzard Inc. said Thursday its second-quarter profit increased by 12% from last year, driven by strong demand for Call of Duty franchise and World of Warcraft as well as lower expenses. However, the company’s shares lost nearly 7% in after-hours, reflecting the investors’ disappointment over the revenue figures and weak outlook.

Kraft Foods Profit Rises 13%

Kraft Foods Inc., the world’s second largest food company, said Thursday after the markets closed that its second quarter profit rose 13% from last year, helped by growth in the company’s base business and the acquisition of British confectioner Cadbury. The company’s quarterly earnings per share, excluding items, also came in above analysts’ expectations. At the same time, the company maintained its earnings outlook for the full year 2010, but trimmed its full year revenue growth forecast.

Harman International Turns To Profit In Q4 - Update

Audio and infotainment products maker Harman International Industries, Inc., Thursday reported a profit in the fourth quarter, compared to a loss in the prior year, helped by robust sales from its automotive and professional divisions and higher margins. Net income was $133.88 million or $1.89 per share, compared to a loss of $59.38 million or $1.09 per share in the same quarter a year ago.

Geithner Says Health Reform Strengthens Medicare, Social Security

Treasury Secretary Timothy Geithner, acting in his role as the chief trustee of the Social Security and Medicare trust funds, said Thursday that the administration’s health care reform bill enhances the solvency of both.

Geithner noted that the Affordable Care Act did not solve the looming problems that will see both funds running out of money in coming years, but he did say it enacts some “very positive” developments for Social Security and especially Medicare.