EARNINGS WRAP: Intel Swing To Loss, Yum Profit Soars

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major second-quarter releases from Tuesday afternoon:

Intel Posts Loss On Big Charge But Tops Street View

Intel Corp. (INTC) swung to a loss as the semiconductor giant recorded a $1.45 billion charge related to the European Union's record antitrust fine, but results easily topped Wall Street estimates. Chief Executive Paul Otellini said the numbers reflect improving conditions in the personal-computer market, sending shares up 7.8% in after-hours trading.

Altera Hurt By Lower Revenue, Margins

Altera Corp.'s (ALTR) profit tumbled 52% as revenue and margins fell, while the results were also hurt by a tax-expense charge. Shares climbed 4.5% in after-hours trading as the logic-chip maker's sales momentum continued on a sequential basis and adjusted earnings topped analysts' estimates.

Yum Brands Posts Big Gain But Backs Year View

Yum Brands Inc.'s (YUM) earnings rose 35% as a big gain offset a sales decline and the stronger dollar. In after-hours trading, Yum shares were down 4.8% at $34.51, despite earnings beating Wall Street estimates. Investors appear to be concerned that, despite topping estimates, Yum held firm to its guidance for full-year earnings growth of 10%. The international business also appeared to disappoint with same-store sales increasing 1%.

J.B. Hunt Weighed Down By Pricing, Sees Improved Demand

J.B. Hunt Transport Services Inc. (JBHT) posted a 52% drop in profit as pricing remained a challenge, but the company said it saw signs of improved demand after three years of softness.

Levi Strauss Hurt By Stronger Dollar, Retail Climate

Levi Strauss & Co. swung to a loss as the global economic downturn and stronger dollar led to a small decline in sales and margins narrowed. Sales rose in the Americas, but that growth was more than offset by declines in Europe and Asia Pacific.

Healthcare Services Sees Earnings Rise, Boosts Dividend

Healthcare Services Group Inc.'s (HCSG) profit climbed 12% as the nursing-home, housekeeping and food service provider saw revenue rise and also raised its dividend to 19 cents a share, marking six years of increases to its quarterly payout.