Lehman Brothers Holdings Inc. (LEH: chart) announced before market open Tuesday that its quarterly earnings jumped 39% from a year ago, boosted by strong performance at its debt and equity underwriting businesses. The New York-based financial services company rolled out net income of $609 million, or $2.01 per share, for its fiscal second quarter of 2004, in contrast to net income of $437 million, or $1.67 per share, a year earlier. The second-quarter earnings powered past the mean analysts’ forecast of $1.91 per share. Lehman recorded net revenue of $2.9 billion in the quarter ended May 31, a 28% increase over the prior-year revenue of $2.3 billion. Analysts had called for revenue of $2.86 billion. Revenue from investment banking soared 28% to $546 million, while revenue from fixed income and equities trading advanced 19% to $1.95 billion. For the first six months of fiscal 2004, net profit rose to $1.3 billion, or $4.23 per share, from a net profit of $738 million, or $2.81 per share, for the same period in 2003.

Lehman shares dipped 4.03% on Tuesday to $73.02. The stock dropped 3 cents to $72.99 in after-hours trading.

Circuit City Stores, Inc. (CC: chart) of Richmond, Virginia, reported Tuesday that it narrowed its quarterly loss, aided by higher sales. The U.S. second-largest consumer electronics chain posted a net loss of $5.9 million, or 3 cents a share, in its fiscal first quarter, compared with a net loss of $46.7 million, or 23 cents a share, in the prior-year period, when results included a loss from discontinued operations of $18.6 million, or 9 cents a share. On average, analysts had projected a first-quarter loss of 7 cents a share. Quarterly sales climbed 7% to $2.07 billion from $1.93 billion, a year earlier. Same-store sales were up 6% in the quarter.

The stock slipped 2.47% to close Tuesday at $12.61.

Oracle Corporation (ORCL: chart) said after the bell Tuesday that its fourth-quarter net income climbed 15% to $990 million, or 19 cents a share, from net income of $858 million, or 16 cents a share, in the 2003 corresponding quarter. The Redwood City, California-based software company beat by a penny a share the consensus estimate of analysts. Revenue in the quarter improved to $3.08 billion from $2.83 billion, last year. Oracle attributed the results to strong demand for its flagship database software.

Oracle shares closed Tuesday up 17 cents, or 1.43%, at $11.71. The stock slid 2.48% to $11.42 in after-market trade.

Pier 1 Imports, Inc. (PIR: chart) of Fort Worth, Texas, posted Tuesday net earnings of $11.7 million, or 13 cents a share, for its first quarter, a 38% drop from year-earlier net earnings of $19.1 million, or 21 cents a share. Results of the home furnishings retailer were in line with Wall Street’s expectations. The company cited a decline in same-store sales and weak advertising as main factors for the profit drop. Total sales in the quarter were up 7.3% to $432 million.

The stock gained 51 cents to $17.47 at market close Tuesday.

JPS Industries, Inc. (JPST: chart) said Tuesday that it swung to a quarterly profit from a year-ago loss, citing higher production levels and improved manufacturing performance. The Greenville, South Carolina-based manufacturer of specialty industrial products announced second-quarter net income of $900,000, or 9 cents per share, a turnaround from a net loss of $1.5 million, or 17 cents per share, in the 2003 equivalent. Quarterly sales advanced 29% to $38.2 million.

JPS shares rocketed up 33.07% on Tuesday to $3.34. The stock dropped a penny to $3.33 in the extended session.

Lennar Corporation (LEN: chart) of Miami, Florida, on Tuesday turned in a profit of $201.4 million, or $1.22 per share, for the second quarter of fiscal 2004, a 26% rise from $160.3 million, or $1.02 per share, generated in the same quarter of 2003. Analysts expected the homebuilder to earn $1.16 per share in the quarter. Lennar said results were due to improving homebuilding gross margins and strong land sales.

The stock closed Tuesday at $43.58, up 8 cents, or 0.18%. Lennar shares edged up 57 cents to $44.15 in after-hours trading.

Red Hat, Inc. (RHAT: chart) said Tuesday that it expects its quarterly earnings to beat analysts’ projections, on the back of strong sales of subscriptions of its Red Hat Enterprise Linux. The Raleigh, North Carolina-based Linux distributor forecast a net profit of over $10 million, or 5 cents a share, for its fiscal first quarter. The mean estimate of analysts is for a profit of 4 cents a share in the first quarter. For the year-ago quarter, Red Hat earned $1.5 million.

Company shares plunged 9.22% to close Tuesday at $22.06. The stock gained 24 cents to $22.30 in the extended trade.

The Clorox Company (CLX: chart) of Oakland, California, confirmed Tuesday its earnings guidance for the fourth quarter, boosted by higher prices of its products and the weak dollar. The household products maker said that it still sees fourth-quarter earnings in the range of 82 cents to 85 cents a share. Currently, analysts predict a profit of 83 cents a share for the fourth quarter.

The stock edged up 17 cents to $52.97 at market close Tuesday.

Illinois Tool Works Inc. (ITW: chart) lifted Tuesday its profit outlook for the fiscal second quarter and full year, on stronger-than-expected sales. The Glenview, Illinois-based supplier of highly engineered products raised its earnings target to a range of $1.14 to $1.18 a share in the second quarter and $4.16 to $4.36 a share, for the year. ITW had previously forecast earnings from continuing operations of $1.04 to $1.12 a share in the quarter and $4.06 to $4.26 a share, for the full year.

ITW shares shed 81 cents on Tuesday to $92.14.

Nucor Corporation (NUE: chart) of Charlotte, North Carolina, announced Tuesday that it sees second-quarter earnings between $2.75 and $2.95 per share, compared with its prior outlook of $2 to $2.20 per share. The steel producer said strong global demand helped boost its forecast. The average analysts’ estimate is for a profit of $2.30 per share.

The stock soared 4.02% to close Tuesday at $69.54.