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Earnings roundup: J. Sainsbury, Deere



14 May 2008 @ 06:31 pm EST

Among the earnings stories for Wednesday, May 14, from AP Financial News:

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LONDON (AP) -J. Sainsbury PLC, Britain's third-largest grocer, unveiled plans to launch a nonfood online business next year while reporting on Wednesday a 1.2 percent rise in full year net profit.

ST. LOUIS (AP) -Deere & Co., the world's biggest maker of farm machinery, said Wednesday its second-quarter profit rose 22 percent, propelled by lofty crop prices that stoked global demand for its farm equipment despite a faltering U.S. economy.

SAN JOSE, Calif. (AP) -Brocade Communications Systems Inc., a data networking technologies company, said Wednesday its fiscal second-quarter profit rose sharply mainly due to a large tax benefit, and adjusted results beat analyst expectations.

NEW YORK (AP) -Shares of Cardiome Pharma Corp. dipped Wednesday, a day after the Canadian drug developer reported a wider-than-expected first-quarter loss on less licensing fees and increased research and development spending.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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