Earnings roundup: Chevron, Cummins

Earnings roundup: Lower prices hurt Chevron profit, but production up; Cummins net sinks

• On 2:28 pm EDT, Friday October 30, 2009

Among the earnings stories for Friday, Oct. 30, from AP Financial News:

Chevron said it pumped its way through a weak third quarter, producing more oil as prices recovered from a severe plunge earlier in the year.

Cummins Inc. said its third-quarter profit plunged 60 percent as demand for its diesel engines and vehicle power systems dropped.

Automotive retailer Lithia Motors Inc. posted a $5.7 million third-quarter profit, citing lower costs and a boost from the government's Cash for Clunkers program.

Health insurer Amerigroup Inc. said its profit sank in the third quarter because of higher medical costs associated with the swine flu.

Power producer Calpine Corp. reported a 75 percent rise in third-quarter profit, helped by good bets on commodity prices and lower costs. The results fell shy of Wall Street estimates, however.

Technology research and analysis company Gartner Inc. posted higher third-quarter earnings as it cut expenses, more than offsetting a decline in revenue.

Denny's Corp. said its third-quarter profit slipped as consumers continued to eat at home more often amid the recession.