Earnings roundup: Wachovia, Caterpillar

Among the earnings stories for Tuesday, July 22, from AP Financial News:

Top stories:

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.

Other stories:

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.