Earnings Roundup: Kraft, Spectra Energy

Among the earnings stories for Tuesday, May 5, from AP Financial News:

MILWAUKEE (AP) — Kraft Foods Inc. said that its first-quarter profit rose 10 percent despite the drag of the stronger U.S. dollar on international sales.

HOUSTON (AP) — Natural gas transport and storage company Spectra Energy Corp. said its first-quarter net income fell 19 percent, as weaker commodity prices and exchange rates cut away at margins.

ST. LOUIS (AP) — Archer Daniels Midland Co., a major corn and soybean processor and agribusiness heavyweight, said its fiscal third-quarter profit tumbled an unexpectedly sharp 98 percent due to a drop in sales and one-time losses related to equity investments.

BLOOMFIELD HILLS, Mich. (AP) — Auto dealership chain Penske Automotive Group Inc. said its first-quarter income plunged by nearly 50 percent as vehicle sales continued to slide.

NEW YORK (AP) — CVS Caremark Corp. said that charges and higher costs outweighed a a boost in the drugstore operator's pharmacy sales, pushing first-quarter profit down slightly.