Earnings roundup: Arrow Electronics, EMC

Among the earnings stories for Wednesday, July 23, from AP Financial News:

MELVILLE, N.Y. (AP) _ Shares of Arrow Electronics Inc. jumped Wednesday after the electronics and computer products distributor posted better-than-expected profit and sales for its second quarter despite the economic downturn.

SAN FRANCISCO (AP) _ EMC Corp. said Wednesday its second-quarter profit climbed 13 percent, topping Wall Street's forecasts, as the data storage specialist rang up record sales despite fears that economic uncertainty is tamping down information technology spending.

NEW YORK (AP)_ Shares of Pharmaceutical Product Development Inc. fell Wednesday as the contract research company reported weaker new business gains than expected in the second quarter, overshadowing an otherwise positive financial report.

NEW YORK (AP) _ AT&T Inc.'s second-quarter financial results Wednesday indicated that the weak economy is catching up to the nation's largest telecommunications company, but investors were largely satisfied with what they saw.

INDIANAPOLIS (AP) _ Shares of WellPoint Inc. rose Wednesday after the health insurer reported a second-quarter profit that fell 10 percent, as medical costs and a tough economy took a toll, but results topped Wall Street expectations.

DANBURY, Conn. (AP) _ ATMI Inc., which provides specialty materials to semiconductor makers, said Wednesday its second-quarter profit rose 4.8 percent as lower costs offset a decline in revenue.

VANCOUVER, Wash. (AP) _ Steel pipe manufacturer Northwest Pipe Co. said Wednesday its second-quarter profit climbed 48 percent as sales in both of its divisions gained. The results came in well ahead of Wall Street expectations, and shares jumped in morning trading.