The Associated Press
Among the earnings stories for Tuesday, Aug. 2, from AP Business News:
â¿¿ Health insurer HealthSpring Inc. said its profit rose 50 percent in the second quarter after it acquired Medicare Advantage plan operator Bravo Health.
â¿¿ Mortgage insurance provider Radian Group Inc. said it made a profit in the second quarter as it earned money on derivatives and other financial instruments instead of posting large losses as it did a year ago.
â¿¿ IPG Photonics Corp. said profit almost tripled in the second quarter as revenue surged on increased demand for its laser technology. Its results beat Wall Street's expectations, and its shares rose more than 4 percent.
â¿¿ Titanium Metals Corp. said second-quarter profit rose 66 percent on strong demand for titanium products in the commercial aerospace industry.
â¿¿ FirstEnergy Corp. said second-quarter profit fell, missing Wall Street expectations, as higher costs at its power plants offset a 29 percent increase in revenue.
â¿¿ Energy provider NiSource Inc. said its second-quarter profit rose 41 percent as revenue from gas distribution, transportation and storage grew 10 percent and revenue from electricity delivery was up 2 percent.
â¿¿ Government-controlled lender Ally Financial Inc. said its second-quarter net income plummeted to $113 million, a fifth of what it made a year ago, as its mortgage arm lost money and its auto unit reported a smaller profit.