Rowan’s second-quarter earnings amounted to $109.7 million, or 98 cents a share, versus $42.3 million, or 39 cents a share a year ago. The latest quarter results of the contract drilling services provider include gains amounting to $24.4 million, or 14 cents a share, associated with asset sales. Revenue increased $382.9 million from $244.6 million last year. The management forecasts worldwide demand for the company’s products and services to remain strong, despite the surging commodity prices.

3M Co., maker of diversified industrial and consumer products, said that its second-quarter net income climbed to $882 million or $1.15 a share, from $754 million, or 96 cents a share a year ago. Sales increased more than 7% to $5.69 billion from $5.29 billion in the prior-year period. Positive tax adjustment added 10 cents to net income, though this was overshadowed by expenses from an antitrust action and the management’s decision to sell the company’s branded pharmaceutical operations. The Dow component backed its earlier issued 2006 profit outlook of $4.55 to $4.65 a share, including 17 cents a share for stock options costs, while the third quarter earnings are expected to be $1.10 to $1.15 a share, including 4 cents a share for stock options expensing.

AT&T Corp., telecommunications company, reported 80% jump in quarterly net income to $1.8 billion, or 46 cents a share, from $1 billion, or 30 cents a share a year ago. Earnings totaled 58 cents a share before merger-related expenses tied to the purchase of AT&T by the ex-SBC. Revenue climbed 53% to $15.8 billion from $10.3 billion last year. The company plans to ramp up its share buyback program and repurchase $10 billion in stock by the end of fiscal 2007, with $2 billion to $3 billion this fiscal year.

The McGraw-Hill Companies Inc. reported 13% increase in second-quarter net income to $221 million, or 60 cents a share, from $195 million, or 51 cents a share a year ago. Revenue climbed 4.9% to $1.5 billion. The company boosted its profit forecast to $2.44-$2.49 a share, from its previously issued guidance of $2.36-$2.41 a share. Record results at Financial Services, a solid performance in the U.S. college and university market, and effective cost containment were the main drivers of the successful performance in the quarter. Operating margin grew to 25.8%, up from 23.6% last year.

United Auto Group, auto retailer, said it earned $36.8 million, or 39 cents a share, in the second quarter versus $33.2 million, or 35 cents a share a year earlier. Revenue increased to $2.93 billion from $2.6 billion. The company now sees earnings of 37 to 40 cents in the third quarter and earnings of $1.35 to $1.40 a share for the full fiscal year.

McDonald''s Corp. said second-quarter net income advanced to $834.1 million or 67 cents a share, from $530.4 million, or 42 cents a share a year earlier. Net income includes 10 cents a share of income from the sale of Chipotle Mexican Grill shares and 2 cents a share of costs tied to impairment and a one-time impact from a tax law change. Total revenue increased to $5.57 billion from $5.1 billion, while global same-store sales added 5.5%.

Burlington Northern Santa Fe Corp., railroad operator, said that its second-quarter net income jumped to $470 million or $1.27 a share, from $366 million, or 96 cents a share, a year ago. Revenue grew 18% to $3.7 billion bolstered by a 21% gain in coal revenue. The quarterly revenue included fuel surcharges of $425 million vs. $220 million last year.

Carlisle Companies Inc., construction and industrial materials maker, said that second-quarter income increased to $56 million, or $1.80 a share, from $34.7 million or $1.11, a year earlier. Earnings from continuing operations totaled $1.76 a share. Sales for the quarter climbed to $692.7 million from $591.6 million last year. The company lifted its fiscal 2006 forecast to earnings from continuing operations of $5.25 to $5.45 a share, up from the earlier issued guidance of $5 to $5.20.

UPS, delivery company, said that its second-quarter net income jumped to $1.06 billion, or 97 cents a share, from $986 million, or 88 cents a share a year ago. Sales in the quarter grew more than 15% from last year’s levels to $11.74 billion. The company also guided third-quarter earnings to 87 cents to 91 cents a share and cautioned that 2006 earnings growth would be at the low end of the original 11% to 16% outlook.

Tuesday Morning, retail company, earned $2.9 million, or 7 cents a share, in the second quarter, down from $10.5 million, or 25 cents a share a year ago. Excluding special items, earnings declined to 8 cents a share from 25 cents last year. Sales slid 5.1% to $207.7 million. The average ticket rose from a year earlier but lower traffic in the company’s stores hurt the comparables. The management sees 2006 earnings at $1.05 and sales at $945 million.