Earnings roundup: Venoco, Newcastle Investment

Among the earnings stories for Monday, May 12, from AP Financial News:

DENVER (AP) _ Independent oil and gas producer Venoco Inc. said Monday it posted a wider first-quarter loss as higher expenses and derivatives losses offset increased production and selling prices.

NEW YORK (AP) _ Finance real estate investment trust Newcastle Investment Corp. said Monday it booked a loss in first-quarter funds from operations after taking charges on its subprime securities portfolio.

McLEAN, Va. (AP) _ XM Satellite Radio Holdings Inc. said Monday its first-quarter loss widened by nearly 6 percent even as revenue jumped 17 percent.

SAN DIEGO, Calif. (AP) _ Cypress Bioscience Inc. Monday said that its first-quarter loss widened on an increase in operating expenses stemming from the drug developer's acquisition of Propius Pharmaceuticals.

NEW YORK (AP) _ Answers Corp. shares sank Monday after the company, which runs the online reference sites Answers.com and WikiAnswers, reported a wider first-quarter loss and lowered its full-year revenue outlook.

LOS ANGELES (AP) _ IndyMac Bancorp Inc. swung to a loss in the first quarter as deteriorating credit markets forced the mortgage lender to lower the value of mortgage-backed securities, and warned Monday it would not post a profitable quarter in 2008.