Corporate report: Yum profits up

Yum Brands Inc. -- The fast-food company's second-quarter profit rose to $224 million for the quarter, from $214 million in the year-ago period. The parent company of Taco Bell, KFC and Pizza Hut also raised its earnings forecast for the year by 2 cents to $1.89 per share. Shares were $36.47, up $1.01.

Marshall & Ilsley Corp. -- The regional bank swung to a second-quarter loss of $393.8 million, or $1.52 per share, compared with a profit of $220.3 million, or 83 cents per share, in the same quarter a year ago. Analysts anticipated a loss of $1.56 per share. Shares were $13.60, up $2.01.

Northern Trust Corp. -- The bank's second-quarter profit rose to $215.6 million, or 96 cents per share, from $206.9 million, or 92 cents per share, in the same quarter a year earlier. Revenue rose 24 percent to $1.09 billion from $882.4 million. Analysts projected earnings of $1.05 per share on revenue of $1.01 billion. Shares were $76, up $8.81.

Wells Fargo & Co. -- The bank's second-quarter profit fell 22 percent as more customers at the nation's fifth-largest bank failed to pay back their loans. But it raised its dividend to 34 cents from 31 cents -- at a time when many other financial institutions are slashing theirs to preserve capital. The bank earned $1.75 billion, or 53 cents per share, down from $2.28 billion, or 67 cents per share, in the same timeframe last year. Analysts had predicted a profit of 50 cents per share on revenue of $10.65 billion. Shares were $27.23, up $6.72.

AMR Corp. -- The parent of American Airlines swung to a second-quarter loss of $1.45 billion, or $5.77 per share, compared with a profit of $317 million, or $1.08 per share, a year ago. Excluding special charges to write down the value of its fleet, AMR would have lost $284 million, or $1.13 per share. Analysts expected AMR to lose $1.40 per share. Revenue rose 5.1 percent, to $6.18 billion. Analysts expected $6.14 billion. Fuel costs spiked 47.4 percent, to $2.42 billion, an increase of about $780 million from a year ago. Shares were $5.82, up $1.41.

Delta Air Lines Inc. -- The carrier reported a second-quarter loss of $1.04 billion, or $2.64 a share, compared with a profit of $1.59 billion a year ago when Delta emerged from bankruptcy protection. It did not provide a per-share figure for the same period a year ago. A year ago, it reported a different figure for its net income -- $1.77 billion -- which a spokeswoman said was due to fresh-start accounting. The Atlanta-based company also said it expects to achieve $2 billion in cost savings by 2012 from its acquisition of Northwest Airlines Corp. That is double what it estimated when it announced the deal on April 14. It also said it expects to spend only $600 million in cash to integrate the two companies, compared to an earlier projection of $1 billion. Shares were $5.91, up $1.24.

Charles Schwab Corp. -- The nation's largest discount brokerage said second-quarter profit rose to $295 million, or 26 cents per share, from $292 million, or 23 cents per share, last year. Revenue rose to $1.31 billion from $1.21 billion in the period a year earlier. Analysts projected earnings of 26 cents per share on revenue of $1.3 billion. Shares were $21.96, up $2.74.

Gannett Co. -- The nation's largest newspaper publisher reported a 36 percent drop in second-quarter earnings as the newspaper industry's woes caused a sharp decline in revenue. The profit of $233 million, or $1.02 per share, is compared with a $366 million, or $1.56 per-share profit, in the same quarter last year. The earnings matched expectations of Wall Street analysts. Shares were $16.57, down 78 cents.

St. Jude Medical Inc. -- The medical device maker's second-quarter profit jumped to $201.1 million, or 58 cents per share, from $134.8 million, or 39 cents per share, including an after-tax charge of $21.9 million, or 6 cents per share, from a litigation settlement a year ago. Analysts expected per-share earnings of 55 cent. Shares were $47.12, up $3.16.

Abbott Laboratories Inc. -- Second-quarter profit rose to $1.32 billion, or 85 cents per share, from $988.7 million, or 63 cents, in the same period last year. Analysts expected second-quarter profit of 79 cents per share. Shares were $56.97, down 88 cents.