[R]10:00AM New York – Discover Financial Services net interest income rose 80% and net income fell 10.6%. The J.M. Smucker Company sales rose 81% and net income rose 154%.[/R]

Discover Financial Services, the credit card issuer and electronic payment services company reported second quarter net interest income rose 80% to $538 million from $298.8 million a year ago. Net income in the quarter fell 10.6% to $209.2 million or 43 cents per diluted share compared to net income of $234.1 million or 48 cents per share a year ago.

Discover Financial Services (DFS: chart) in the last one year traded as high as $18.15 in September 2008 and as low as $4.73 in March 2009. Based on the yesterday’s closing price of $8.91 the company has market cap of $4.29 billion.

The J.M. Smucker Company, the maker of jams, jellies and Jif peanut butter reported fourth quarter sales rose 81% to $1.07 billion from $590 million a year ago. Net income in the quarter rose 154% to $94.3 million or 80 cents per diluted share compared to net income of $37.1 million or 67 cents per share a year ago.

Net sales for the fiscal year 2008 rose 49% to $3.76 billion from $2.52 billion a year ago. Net income in the year rose 56% to $266 million or $3.12 per diluted share compared to net income of $170.4 million or $3.00 per share a year ago.

The J.M. Smucker Company (SJM: chart) in the last one year traded as high as $56.69 in August 2008 and as low as $34.09 in March 2009. Based on the yesterday’s closing price of $43.64 the company has market cap of $5.17 billion.

Pier 1 Imports, Inc, a home furnishings company reported first quarter sales fell 9% to $281.1 million from $310 million a year ago. Net income in the quarter was $29.3 million or 32 cents per diluted share compared to net loss of $32.8 million or 37 cents per share a year ago.

Comparable same store sales fell 7.5%.

Pier 1 Imports, Inc (PIR: chart) in the last one year traded as high as $6.24 in June 2008 and as low as $0.10 in March 2009. Based on the yesterday’s closing price of $1.94 the company has market cap of $175.55 million.

Progress Software Corporation, the business-software maker reported second quarter sales fell 9% to $117 million from $128 million a year ago. Net income in the quarter fell 52% to $6.9 million or 17 cents per diluted share compared to net income of $14.5 million or 33 cents per share a year ago.

Progress Software Corporation (PRGS: chart) in the last one year traded as high as $31.14 in August 2008 and as low as $14.69 in March 2009. Based on the yesterday’s closing price of $22.67 the company has market cap of $904.40 million.

Wimm-Bill-Dann Foods OJSC, the Russian dairy products and juice producer reported first quarter sales fell 29.4% to $516.8 million from $731.9 million a year ago. Net income in the quarter fell 70% to $12.6 million or 29 cents per diluted share compared to net income of $41.9 million or 95 cents per share a year ago.

Wimm-Bill-Dann Foods OJSC (WBD: chart) in the last one year traded as high as $120.00 in June 2008 and as low as $13.42 in November 2008. Based on the yesterday’s closing price of $54.81 the company has market cap of $2.41 billion.