Earnings roundup: Wachovia, Caterpillar

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CHARLOTTE, N.C. (AP)--Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The bank said it lost $8.86 billion, is slashing its dividend and eliminating 10,750 positions after losses tied to mortgages soared.

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PITTSBURGH (AP)--Caterpillar Inc.'s second-quarter profit jumped 34 percent as stronger sales in developing countries outpaced slowing growth in North America, and higher production costs.

ATLANTA (AP)--Customers are using UPS shipping services within the U.S. less amid a slumping U.S. economy and soaring fuel prices. The company's international business was affected as imports into the country declined in the second quarter.

NEW YORK (AP)--Grocer Supervalu Inc. cut its 2009 profit guidance on Tuesday, citing a slowdown in consumer spending and soaring energy costs, even as it said profit rose 9 percent in its fiscal first quarter.

ENGLEWOOD, Colo. (AP)--Western Union Co. said Tuesday that international growth helped drive its second-quarter profit up 13 percent, leading the money transfer services company to raise its full-year earnings outlook.

SAN DIEGO (AP)_ Genetic analysis company Illumina Inc. said Tuesday its second-quarter profit rose 66 percent on a surge in product sales, prompting the company to boost its third-quarter and full-year outlooks.