Among the earnings stories for Tuesday, May 12, from AP Financial News: RICHARDSON, Texas (AP) ¿ Fossil Inc. said its first-quarter profit fell 43 percent as the recession continued to take its toll, but the company raised its guidance for the full year. MOUNTAIN VIEW, Calif. (AP) ¿ Vivus Inc. reported a smaller first-quarter loss on a dip in development costs for the obesity treatment candidate Qnexa. SAN DIEGO (AP) ¿ Arena Pharmaceuticals Inc. said its first-quarter loss narrowed on lower costs as it completed clinical trials of the obesity treatment candidate lorcaserin. HOUSTON (AP) ¿ Engineering and construction company McDermott International Inc. reported a 37 percent drop in first-quarter profit, hurt by higher costs and losses on asset sales, but results still topped Wall Street expectations. IRVING, Texas (AP) ¿ Engineering and construction firm Fluor Corp. reported first-quarter profit and revenue which beat Wall Street expectations, helped by strong results in its oil and gas and government segments. The company did lower its full-year outlook due to project cancellations, but the revised guidance still tops analysts' forecast.
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