Earnings Roundup: Applied Materials, Macy's

Among the earnings stories for Wednesday, Nov. 11, from AP Financial News:

SANTA CLARA, Calif. (AP) — Applied Materials Inc. said that fiscal fourth-quarter net income fell by 40 percent and announced it would cut 1,300 to 1,500 jobs to save money as it grapples with a business downturn.

NEW YORK (AP) — Macy's Inc.'s third-quarter loss shrunk as tight inventory controls and a move to localize merchandise at its department stores by region paid off. The company also raised its full-year profit and sales outlook.

FALLS CHURCH, Va. (AP) — Information technology services provider Computer Sciences Corp. said its fiscal second quarter profit fell more than 50 percent from last year when it reaped a large tax benefit, but still beat Wall Street's forecast by 5 cents.

SEATTLE (AP) — Dendreon Corp., which is developing the prostate cancer drug Provenge, said its third-quarter loss widened on a boost in operating expenses and costs to cover the value of warrants to buy its shares.

VALLEY FORGE, Pa. (AP) — Utility and energy holding company UGI Corp. said its fiscal fourth-quarter loss widened and, even though it predicted weak economic conditions ahead, it held to its 2010 estimates.