Yahoo! Inc. (YHOO: chart) announced Wednesday that its quarterly profits more than doubled from last year, citing a surge in advertising sales as major boost. The Sunnyvale, California-based Internet giant rolled out net earnings of $112.5 million, or 8 cents per share, for the second quarter of fiscal 2004, compared with net earnings of $50.8 million, or 4 cents per share, in the same period last year. Quarterly revenue jumped 159% to $832.3 million from $321.4 million, a year ago. Both earnings and revenues were in line with Wall Street’s expectations. Marketing services revenue for the second quarter of 2004 ended June 30 surged 215% to $691 million. Revenues excluding traffic acquisition costs were $609 million in the quarter. For the first half of 2004, Yahoo delivered earnings of $213.7 million, or 15 cents per share, up from $97.5 million, or 8 cents per share, generated in the first half of fiscal 2003. Revenue for the first six months rose to $1.59 billion from $604 million.

Yahoo shares shed 62 cents to close Wednesday at $32.60. The stock plummeted 11.81% to $28.75 in after-hours trading.

Alcoa Inc. (AA: chart), the world’s top aluminum producer, posted after the bell Wednesday quarterly earnings that soared 87% from a year ago, driven by strong demand and improving prices. Pittsburgh, Pennsylvania-based Alcoa reported a net profit of $404 million, or 46 cents per share, for its fiscal 2004 second quarter, against a net profit of $216 million, or 26 cents per share, in the prior-year equivalent. Earnings just missed the average analysts’ estimate of 47 cents per share. For the quarter ended June 30, revenue was $6.1 billion, the highest in more than three years, and an increase of 11% from $5.5 billion, a year earlier. The first half of fiscal 2004 was the company’s most profitable first-half performance ever, with net income of $759 million, on sales of $11.79 billion. For the first six months of 2003, net income was $367 million on sales of $10.64 billion.

The stock gained 79 cents on Wednesday to $32.77. Alcoa shares dipped 3.51% to $31.62 in after-market trade.

Boosted by strong demand for outsourcing, Accenture Ltd (ACN: chart) on Wednesday turned in net income of $210.4 million, or 37 cents a share, for the third quarter of fiscal 2004, a 59% increase from net income of $132.1 million, or 28 cents a share, in the 2003 comparable period. The Bermuda-based world's No.1 management and technology consulting firm met analysts’ projections. Net revenue in the quarter jumped 21% to $3.69 billion from $3.04 billion, a year ago.

Accenture shares added a penny to $27.25 at market close Wednesday.

Genentech, Inc. (DNA: chart) of South San Francisco, California, said after market close Wednesday that its second-quarter net earnings rose 30% to $170.8 million, or 16 cents a share, from year-earlier earnings of $132.3 million, or 13 cents a share. Excluding items, the biotechnology company posted a profit of 19 cents a share, matching the consensus estimate of analysts. Genentech said higher-than-expected sales of its new cancer treatment Avastin drove the results. Quarterly revenue leapt 41% to $1.13 billion.

The stock closed Wednesday down 76 cents, or 1.39%, at $53.90. Company shares gained 90 cents to $54.80 in the extended session.

International Speedway Corporation (ISCA: chart) reported Wednesday a steep drop in its second-quarter net profits, hurt by one-time charges. The Daytona Beach, Florida-based motor sports operator posted second-quarter net income of $6.1 million, or 11 cents a share, down from $12.5 million, or 24 cents a share, generated in the 2003 corresponding quarter. Revenue in the quarter climbed 11% to $132.7 million, aided by higher broadcast and attendance revenue.

Company shares edged up $1.40 on Wednesday to $49.95. The stock dropped 12 cents to $49.83 in after-hours trading.

Frequency Electronics, Inc. (FEI: chart) of Mitchel Field, New York, announced Wednesday that it swung to a quarterly profit from a prior-year loss, bolstered by solid revenue growth. The company, which makes high-technology time and frequency control products for the telecommunications industry, rolled out net earnings of $805,000, or 9 cents a share, for its fourth quarter, rebounding from a net loss of $8.9 million, or $1.06 a share, last year. Revenue rose from $7.0 million a year ago to $17.3 million in the fourth quarter of 2004.

The stock slipped 1.06% to $14.00 at market close Wednesday.

MSC Industrial Direct Co., Inc. (MSM: chart) posted Wednesday a huge rise in its third-quarter earnings, due to improved market conditions. The Melville, New York-based distributor of tools and industrial supplies reported income of $23.9 million, or 34 cents a share, for its third quarter, in contrast to income of $13.2 million, or 19 cents a share, in the year-ago quarter. Quarterly revenue climbed 18% to $255.3 million.

MSC shares closed Wednesday unchanged at $32.50. The stock lost 15 cents to $32.35 in extended trade.

Schnitzer Steel Industries, Inc. (SCHN: chart) of Portland, Oregon, said Wednesday that it earned $42.5 million, or $1.37 a share, in its fiscal 2004 third quarter, nearly a threefold increase from earnings of $15.0 million, or 52 cents a share, a year ago. Results blasted past the mean analysts’ forecast of $1.25 a share. The steel processor attributed the results to strong demand and rising prices.

The stock gained 46 cents to close Wednesday at $34.88. Company shares plunged 7.68% to $32.20 in after-market trade.

Teknion Corporation ((TKN.TO)) announced Wednesday a second-quarter profit of C$1.4 million ($1 million), or 2 Canadian cents a share, a turnaround from a year-earlier loss of C$6.1 million, or 10 Canadian cents a share. Analysts had expected the Toronto, Canada-based office-furniture maker to post a loss of 4 Canadian cents a share. The company credited its cost-cutting and restructuring initiatives for the results.

Company shares closed Wednesday up 10 Canadian cents, or 1.53%, at C$6.65 on the Toronto Stock Exchange.

Semitool, Inc. (SMTL: chart) of Kalispell, Montana, reduced Wednesday its financial outlook for the third quarter, citing delayed sales of four new tools. The provider of semiconductor manufacturing equipment said that it now sees a loss of 5 cents to 6 cents per share in its third quarter, on revenue of $26 million. The company had earlier forecast a profit of 2 cents to 5 cents per share and revenue of $33 million to $36 million.

The stock dived 6.33% on Wednesday to $9.62. Company shares recovered 12 cents to $9.74 in after-hours trading.