US EARNINGS WRAP: Amgen Profit Climbs, Zoran Loss Narrows

   DOW JONES NEWSWIRES 
 

Below is a synopsis of major quarterly releases from Monday afternoon:

Amgen Net Jumps On Revenue Bump, Boosts Year Earnings View

Amgen Inc.'s (AMGN) earnings rose 40% despite a small revenue decline as unusual items skewed comparisons. The pharmaceutical company also raised its 2009 earnings guidance, while it sees revenue at the high end of its reduced forecast. That, plus the second quarter's results topping analysts' expectations, helped send shares up 3.8% to $66.01 in after-hours trading.

Zoran Loss Narrows On Cost Cutting, Issues Rosy 3Q View

Zoran Corp.'s (ZRAN) loss narrowed as the chip designer's cost-cutting actions offset a steep drop in revenue. Shares rose nearly 1% to $11.26 in after-hours trading Monday after the company posted its sixth consecutive quarterly loss. Results easily topped the company's own estimates and Zoran issued a rosy third-quarter outlook.

Health Management Profit Soars On Admissions, Boosts View

Health Management Associates Inc.'s (HMA) profit climbed 91% as hospital admissions rose and improving operations led the company to increase its 2009 guidance for earnings from continuing operations. Shares were inactive after hours.

PartnerRe Swings To Profit On Investment Gains

PartnerRe Ltd. (PRE) swung to a profit as big investment gains drove a surge in revenue while core earnings walloped analysts' expectations. The investment income is a marked change from the recent past. PartnerRe's shares were up 1.9% to $68.60 in after-hours trading.

Higher Premiums Propel Fidelity National; CEO See Improvement

Fidelity National Financial Inc.'s (FNF) profit surged on sharply higher premiums as the company benefited from an acquisition and increased mortgage-refinancing activity. Chairman William P. Foley II said the title-insurance market has improved considerably in the first half.

Masco Earnings Drop But Cost Cutting Eases Decline

Masco Corp.'s (MAS) profit dropped 33% on lower sales volume, but the company managed to avoid reporting a third consecutive quarterly loss as a result of its cost-cutting efforts. The maker of faucets, cabinets and other building products also issued an improved sales view, and said it could record a full-year profit, excluding items, based on the better-than-expected results. Shares were up 9.5% to $12.65 in after-hours trading.