US EARNINGS WRAP: Wal-Mart Profit Flat, Kohl's Down 3%

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major quarterly releases from Wednesday night and Thursday morning:

Wal-Mart Profit Flat; Same-Store Sales Fall

Wal-Mart Stores Inc.'s (WMT) fiscal second-quarter earnings were flat on lower same-store sales, resulting in revenue falling short of expectations. Still, shares were up 2.3% at $51.65 as President and Chief Executive Mike Duke said the company's earnings exceeded its expectations.

Kohl's Income Down 3% On Sales Drop; 3Q View Weak

Kohl's Corp.'s (KSS) earnings fell 3% on weaker sales, though the department-store chain was able to boost margins. While it raised its profit target for the year the retailer projected earnings for the current quarter below analysts' expectations. Its stock dropped 3% to $50.72.

Dr Pepper Snapple Profit Up 46%, Boosts Outlook Again

Dr Pepper Snapple Group Inc.'s (DPS) second-quarter earnings rose 46% amid rising soda volume and prior-year charges related to its separation from Cadbury PLC (CSG). Income well exceeded Wall Street views on increased margins and Dr Pepper Snapple again increased its profit projection, helping send shares up 6.3% to $25.

Harris Posts Loss On Write-Down; Results Top Estimates

Harris Corp. (HRS) swung to a fiscal fourth-quarter loss on a $255.5 million goodwill write-down as core results topped analysts' expectations. Shares surged 20% to $36.61 as the communications-products company also raised the lower end of its forecast for the new fiscal year.

LDK Solar Falls To Red On Slumping Prices

LDK Solar Co. (LDK) swung to a second-quarter loss amid slumping prices as the solar-wafer maker projected third-quarter revenue below Wall Street's expectations. Its stock slumped 14% to $9.65.

Estee Lauder Swings To 4Q Loss; Bullish On 1Q

Estee Lauder Cos. (EL) swung to a fiscal fourth-quarter loss as the beauty-products company was hit hard by restructuring charges and weak sales. It also projected results for the current quarter above analysts' estimates, but shares fell 2.1% to $36.83.

Star Bulk Swings To Red As Results Miss Forecasts

Star Bulk Carriers Corp. (SBLK) swung to a second-quarter loss as the Greek shipping company reported higher expenses and lower charter rates. Results missed expectations, sending the stock down 9.3% to $3.10.

Advance Auto 2Q Earnings Up 6.6%

Advance Auto Parts Inc.'s (AAP) fiscal second-quarter earnings rose 6.6% as the retailer continued its margins expansion and sales continued to accelerate despite the recession. But the gains were less than earlier this year, helping push shares down 5.4% to $43.18.

Aegean Marine Profit Jumps 65% On Gains

Aegean Marine Petroleum Network Inc.'s (ANW) second-quarter profit surged 65% as the Greek shipping fuel supplier reported a vessel sales gain and lower petroleum costs. Results topped Wall Street's expectations and the stock rose 3.7% to $19.75.

Urban Outfitters Earnings Down 14%, Still Tops Views

Urban Outfitters Inc.'s (URBN) fiscal second-quarter income fell 14% on a drop in same-store sales and margins as the teen-clothing retailer's results beat expectations. Shares climbed 3.9% to $29.32.

SRA Income Off 6.9%, Gives Strong Forecast

SRA International Inc.'s (SRX) fiscal fourth-quarter profit slid 6.9% on higher expenses, but the results were the strongest of the year and topped analysts' expectations. Shares of the technology and consulting company jumped 5.4% to $20.92 as SRA also projected earnings for the new year above Wall Street estimates.