Earnings roundup: Starent Networks, Express Scripts

TEWKSBURY, Mass. (AP) Starent Networks Corp.'s first-quarter earnings rose as revenue surged on product sales, the maker of equipment for wireless networks said Tuesday.

ST. LOUIS (AP) Pharmacy-benefits manager Express Scripts Inc. said Tuesday its first-quarter profit rose 33 percent, boosted by increased earnings per adjusted claim.

SINGAPORE (AP) Electronics manufacturing company Flextronics International Ltd. said Tuesday it swung to a fiscal fourth-quarter loss as it recorded a massive restructuring charge after a recent acquisition.

LOS ANGELES (AP) Countrywide Financial Corp. said Tuesday it lost $893 million in the first quarter, as rising loan defaults amid a deepening housing downturn forced the nation's largest mortgage lender and servicer to sharply increase its provision for loan losses and book other credit-related charges.

HIGHLAND HEIGHTS, Ky. (AP) Cable and wire products company General Cable Corp. said Tuesday its first-quarter profit jumped, fueled by acquisitions and strength in its global electrical infrastructure and electric utility businesses.

HOUSTON (AP) Crude prices that grew more quickly than prices for gasoline and other refined products put the squeeze on first-quarter profit at Valero Energy Corp., as North America's largest refiner said Tuesday its net income tumbled 77 percent to start the year.

BERLIN (AP) Automaker Daimler AG said Tuesday that its first-quarter profit slipped 32 percent from last year, when its results were lifted by a one-time gain from the transfer of shares in Airbus' parent company.