Exxon Mobil Corporation (XOM: chart) announced before market open Thursday that its quarterly profits surged 39%, helped by rising oil and gasoline prices, and improved production. The Irving, Texas-based world’s top publicly traded oil company reported fiscal 2004 second-quarter net income of $5.79 billion, or 88 cents a share, which matched the consensus estimate of analysts. For the comparable period in 2003, the company earned $4.17 billion, or 62 cents a share. Revenue in the second quarter ended June 30 came to $70.69 billion, a 24% increase from $57.17 billion, last year. Exxon Mobil recorded upstream earnings of $3.85 billion in the quarter, up 36% from $2.84 billion, a year ago. Global downstream earnings jumped 32% in the quarter to $1.51 billion, due to wider margins, higher refinery output and stronger sales in the U.S. The company’s chemicals business delivered earnings of $607 million, a 38% jump from last year. For the first half of 2004, Exxon Mobil posted a profit of $11.23 billion, or $1.71 per share, compared with $11.21 billion, or $1.67 per share, for the same period in 2003.

Company shares closed Thursday up 22 cents, or 0.48%, at $46.03. The stock gained 17 cents to $46.20 in after-hours trading.

The Dow Chemical Company (DOW: chart) reported before the bell Thursday a 74% rise in its quarterly earnings, driven by higher sales of farm chemicals and plastics. The Midland, Michigan-based U.S. largest chemical company announced a net profit of $685 million, or 72 cents per share, for its fiscal second quarter, compared with a net profit of $393 million, or 43 cents per share, for the 2003 corresponding period. The earnings powered past the average analysts’ estimate of 67 cents per share. Quarterly net sales hit a record $9.84 billion, rising 19% year-over-year, aided by the weak dollar and higher prices.

The stock rose 2.79% on Thursday to $40.50. Dow shares added 38 cents to $40.88 in after-market trade.

Boosted by increased sales volume, Eastman Chemical Company (EMN: chart) of Kingsport, Tennessee, said Thursday that its second-quarter earnings more than doubled to $84 million, or $1.07 a share, from $35 million, or 46 cents a share, generated in the second quarter of 2003. Excluding items, the chemical company posted a profit of 82 cents a share, surpassing the average analysts’ forecast by 4 cents a share. Sales in the quarter improved 13% to $1.7 billion. Eastman Chemical said its cost-cutting initiatives also helped boost the results.

Company shares edged up 54 cents to close Thursday at $44.66.

American Power Conversion Corporation (APCC: chart) posted Thursday second-quarter net income of $26.8 million, or 13 cents a share, down from net income of $33.1 million, or 17 cents a share, in the prior-year quarter. The West Kingston, Rhode Island-based maker of power protection systems cited rising costs as main factor for the profit drop. Analysts were looking for a second-quarter profit of 20 cents a share, on average. Quarterly sales were up 19% to $395.7 million from $331.5 million, last year.

The stock gained 24 cents to $17.45 at market close Thursday. Company shares plummeted 12.89% to $15.20 in the extended session.

California Micro Devices Corporation (CAMD: chart) said Thursday that it swung to a quarterly profit from a year-ago loss, on surging sales. The Milpitas, California-based chip maker rolled out earnings of $1.96 million, or 9 cents a share, for its fiscal first quarter, rebounding from a loss of $1.22 million, or 8 cents a share, a year earlier. Results were in line with Wall Street’s expectations. Sales rose to $16.5 million in the first quarter, from $11.9 million a year ago.

Company shares soared 14.96% on Thursday to $7.99. The stock shed 43 cents to $7.56 in after-hours trading.

KLA-Tencor Corporation (KLAC: chart) of San Jose, California, reported Thursday that its fourth-quarter income surged to $96.2 million, or 48 cents a share, from year-earlier income of $29.4 million, or 15 cents a share, on strong demand for its semiconductor production equipment. The company beat Wall Street’s consensus view by 3 cents a share. Quarterly revenue leapt 46% $450.4 million, from $308.3 million a year ago, helped by strength of the chip sector.

The stock closed Thursday at $38.81, up $1.00, or 2.64%. Company shares dropped 25 cents to $38.56 in extended trade.

Raytheon Company (RTN: chart) announced Thursday a quarterly loss, hurt by charges. The Waltham, Massachusetts-based defense contractor posted a net loss of $108 million, or 25 cents per share, for the second quarter of 2004, in contrast to a profit of $100 million, or 24 cents per share, last year. Excluding items, Raytheon said it earned 35 cents per share in the quarter, outpacing the average analysts’ estimate of 31 cents per share.

Company shares rose 2.57% to close Thursday at $33.55.

Bristol-Myers Squibb Company (BMY: chart) posted Thursday second-quarter earnings of $527 million, or 27 cents a share, a decrease of 42% compared with year-earlier earnings of $902 million, or 46 cents a share. The New York-based drug maker said results were due to legal expenses. Adjusted earnings came in at 46 cents per share, while analysts had called for 39 cents per share. Sales in the quarter edged up 6% to $5.4 billion.

The stock plunged 4.24% to $22.57 at market close Thursday. Company shares recovered 28 cents to $22.85 in after-market trade.