Earnings roundup: J. Sainsbury, Deere

By Associated Press May 14, 2008 Comments (0)

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

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.

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