Earnings roundup: Wachovia, D.R. Horton

Among the earnings stories for Tuesday, May 6, from AP Financial News:

Top stories:

CHARLOTTE, N.C. (AP) _ Wachovia Corp. is nearly doubling previously reported losses for the first quarter to $708 million after reviewing its portfolio of bank-owned life insurance.

FORT WORTH, Texas (AP) _ D.R. Horton said Tuesday it swung to a loss in the second quarter, as a sustained housing slump forced the nation's largest homebuilder to take hefty charges and write down the value of property.

Other stories:

SANFORD, N.C. (AP) _ The Pantry Inc., which operates a chain of convenience stores in 11 Southeastern states, said Tuesday it swung to a fiscal second-quarter loss, hurt by a charge related to gasoline hedging, higher gas prices and a weak U.S. retail environment.

MIDLAND, Texas (AP) _ Oil and natural-gas producer Clayton Williams Energy Inc. said Tuesday it swung to a profit in the first quarter on higher prices and greater production.

SAN FRANCISCO (AP) _ California utility PG&E Corp. said Tuesday its first-quarter profit slid 13 percent on higher costs because of storms in January and a planned refueling outage.

Denver (AP) _ Bill Barrett Corp., a firm that explores for and produces natural gas and oil, said Tuesday its first-quarter earnings more than doubled because of rising production and prices.