Earnings roundup: Ford, Electronic Data Systems

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DEARBORN, Mich. (AP) Ford Motor Co. surprised Wall Street on Thursday with a $100 million profit in the first quarter as strong results from Europe and South America helped offset the impact of a slumping U.S. economy that cut car and truck sales in its main market. Its shares rose almost 6 percent in morning trading.

NEW YORK (AP) Information technology services company Electronic Data Systems says its first-quarter profit was less than half what it was a year-ago when it recorded a huge contract termination payment from Verizon.

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LONDON (AP) AstraZeneca PLC reported a 3.7 percent drop in first-quarter profit on Thursday, but said it was on course to meet its full-year financial targets.

HOUSTON (AP) Diamond Offshore Drilling Inc. said Thursday its first-quarter profit rose 30 percent as higher rates for its top-line floating drilling rigs offset the effect of a lower utilization rate.

DEERFIELD, Ill. (AP) Fortune Brands Inc., which sells Jim Beam whiskey, Titleist golf balls and Moen faucets, said first quarter profit was essentially flat as strong international results helped offset weakness in the U.S. housing products market.

BERLIN (AP) Chemical company BASF AG on Thursday reported a 13 percent jump in net profit in the first quarter, helped by growth in its oil and gas division.

TOKYO (AP) Canon Inc. said Thursday its net profit fell 18.7 percent in the first quarter from a year earlier as a slowing global economy and a stronger yen weakened overseas sales.

NEW YORK (AP) Transatlantic Holdings Inc.'s profit climbed 8 percent in the first quarter as the insurer did not have to pay many claims to cover catastrophic damage, the company said Thursday.

FRANKFURT, Germany (AP) Drugmaker Bayer AG said Thursday that its first-quarter net profit slid nearly 73 percent from figures last year that were boosted by one-time gains.