Earnings roundup: EMC, GlaxoSmithKline

Top stories:

BOSTON (AP) EMC Corp.'s first-quarter profit dipped 14 percent on acquisition-related charges, but the data storage vendor managed to post a double-digit revenue gain amid a slow U.S. economy, beating Wall Street expectations.

LONDON (AP) GlaxoSmithKline PLC on Wednesday reported that first-quarter profit fell more than 13 percent from a year ago as drug sales were hit hard by competition from generics in the United States.

Other stories:

NEW YORK (AP) Moody's Corp. said Wednesday its first-quarter earnings fell 31 percent due as the upheaval in the credit markets severely curbed demand for its ratings services.

BETHESDA, Md. (AP) Host Hotels & Resorts Inc. said Wednesday its first-quarter funds from operations improved partly on a higher average room rate.

SCOTTSDALE, Ariz. (AP) P.F. Chang's China Bistro Inc. said Wednesday its first-quarter profit dropped 8 percent due to a hike in costs and expenses that offset higher revenue.

DANBURY, Conn. (AP) Praxair Inc. said Wednesday its first-quarter profit jumped 16 percent as new business, plant startups and strong pricing helped the industrial gases producer beat analysts' estimates.

FORT SMITH, Ark. (AP) Trucking company Arkansas Best Corp. said Wednesday its first-quarter earnings soared 78 percent, as reigned-in costs and improved efficiency offset poor pricing and accelerating fuel costs.