US EARNINGS WRAP: Visa Net Soars; Lincoln, Hartford In Red

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major releases from Wednesday afternoon:

Visa Profit Soars On International Unit's IPO, Tops Views

Visa Inc.'s (V) earnings jumped 73% on a gain from its international arm's initial public offering as results topped analysts' expectations. But shares of Visa, which reiterated its 2009 forecast, fell by a fraction of a percentage point after-hours to $66.73 as payments volume, representing spending on Visa cards, fell 5%.

Lincoln, Hartford In The Red, But Beat Expectations

Lincoln National Corp. (LNC) and Hartford Financial Services Group Inc. (HIG) each swung to a loss, as Lincoln recorded several charges and Hartford reported higher net realized losses. Still, Lincoln's shares were up 1.1% at $18.25 in after-hours trading, while Hartford's stock jumped 6.2% to $15.89, as both companies appeared to top Wall Street expectations.

Aflac Net Drops On Investment Losses

Aflac Inc.'s (AFL) profit fell 35% as the supplemental insurer reported large investment losses. Meanwhile, the company backed its 2009 outlook for its Japanese operations, but said it doesn't expect to post sales growth this year in its U.S. division. Aflac also projected third-quarter operating earnings above Street estimates. Shares were inactive in late trading

Express Scripts Profit Climbs On Higher Margins, Raises Year View

Express Scripts Inc. (ESRX) reported earnings edged up 1.1% as wider margins offset a small decline in revenue, with results topping analysts' expectations. The pharmacy-benefits manager also raised its 2009 earnings target a nickel to $3.72 to $3.82 a share. In after-hours trading, shares were up 1.7% to $73.

Higher Volume, Acquisitions Propel Dresser-Rand

Dresser-Rand Group Inc.'s (DRC) profit climbed 29% on higher sales volumes and the benefit of acquisitions. The oil-equipment maker said new unit orders remain slow, but the company continues to see a steady flow of inquiries. Dresser-Rand expects to meet its guidance for new unit bookings this year. Shares were inactive in late trading.

Ryland's Red Ink Shrinks But Revenue Falls Short

Ryland Group Inc.'s (RYL) loss narrowed as the home builder and mortgage-finance company reported smaller write-offs and valuation adjustments. Shares were down 2.3% to $20 in after-hours trading as revenue fell short of analysts' expectations.

Tesoro Swings To Loss As Margins, Revenue Sag

Tesoro Corp. (TSO) swung to a loss as revenue declined by more than half and the independent oil refiner saw lower margins resulting from higher crude-oil prices and weak demand. Chief Executive Bruce Smith said declining industrial production, weak distillate demand and excess inventories crushed distillate margins in the period.

Fiserv Earnings Rise On Cost-Cutting, Offsetting Revenue Decline

Fiserv Inc.'s (FISV) earnings rose 40% as lower expenses were able to offset a steep drop in revenue. Shares of the information technology company, which backed its full-year earnings forecast, were inactive after-hours.

Cerner Net Rises Despite Flat Revenue, Issues Gloomy 3Q Outlook

Cerner Corp.'s (CERN) earnings rose 24% despite flat revenue as the health-care information technology company benefited from lower costs. But the company gave a downbeat outlook for the current quarter, pushing shares down 3.7% after-hours, to $62.75.

Investment Write-Downs, Restructuring Weigh On Flextronics

Flextronics International Ltd. (FLEX) swung to a loss - its fifth in the past seven quarters - on investment write-downs and restructuring charges. Shares fell 1.2% to $5.07 in after-hours trading.

Choice Hotels Net Slips As RevPar Continues To Slide

Choice Hotels International Inc.'s (CHH) earnings dropped 5.6% as revenue per room continued to slide and the hotel company issued a weak outlook for the third quarter while cutting estimates for the year. Shares edged up 1% to $26.69 in late trading as adjusted earnings narrowly topped the company's own estimates.

Cliffs Natural Slumps On Lower-Than-Expected Sales

Cliffs Natural Resources Inc.'s (CLF) second-quarter earnings slumped 83% as the miner avoided a loss due to hedging gains. Sales were much lower than analysts expected. Shares were down 0.8% to $24.65 in after-hours trading.

LSI Loss Widens On Lower Sales, Margins

LSI Corp.'s (LSI) loss widened on lower sales and margins, continuing a trend of red ink for the company, which has had only one profitable quarter in the past two years. Shares fell 1% to $5.15 in after-hours trading as the storage-chip provider projected a range of current-quarter revenue that included analysts' estimate.

Whiting Swings To Loss On Hedging Losses, Revenue Decline

Whiting Petroleum Corp. (WLL) swung to a loss as the company suffered hedging losses and a big decline in revenue. Shares fell 1% to $42.33 in after-hours trading as the oil-and-gas explorer posted its third quarterly loss in a row.