Earnings Roundup: Hewlett-Packard, Home Depot

Among the earnings stories for Tuesday, Aug. 18, from AP Financial News:

SAN FRANCISCO (AP) — Hewlett-Packard Co.'s profit dropped 19 percent in the latest quarter, dragged by ongoing weakness in sales of personal computers and printer ink.

NEW YORK (AP) — Home Depot Inc. that its fiscal second-quarter profit fell 7 percent, as consumers continued to shy away from bigger purchases, but cost cutting and sales of smaller items such as paint and garden products helped results beat expectations.

MILWAUKEE (AP) — Cash-strapped consumers continued to seek value at stores run by discount chain operator TJX Cos., the company said as it reported that its second-quarter profit rose 31 percent and narrowly beat expectations.

CHICAGO (AP) — Retailer Saks Inc. posted its fifth consecutive quarterly loss, as consumers continued to cut back on buying luxury fashion.

NEW YORK (AP) — Chinese drugmaker Simcere Pharmaceutical Group said its profit shrank 61 percent in the second quarter due to growing expenses, and weaker-than-expected sales of key products.