DOW JONES NEWSWIRES 
 

Below is a synopsis of major second-quarter releases from Thursday night and Friday morning:

 
   AIG Posts First Profit In Nearly Two Years 
 

American International Group Inc. (AIG) returned to the black after six straight quarters of losses as the second quarter's results were absent the major write-downs which have been pressuring the insurance giant's results. But its core insurance operations are still struggling. Shares climbed 11% to $25, putting the week's gains at 90%.

Fannie's Loss Balloons; Needs More Treasury Aid

Fannie Mae (FNM) late Thursday posted a sharply wider loss on $18.8 billion of credit-related impacts as delinquencies continued to surge and the company admitted it is reliant on the government's help to stay in business. Its stock slid 13% to 69 cents.

Ambac Loss Much Worse Than Company's Week-Old Estimate

Bond insurer Ambac Financial Group Inc. (ABK) swung to a loss on increased write-downs while net premiums earned sank. The red ink was much wider than the company's projection last week. Shares slid 16% to $1.16.

Edison International Posts Loss On IRS Tax Deal

Edison International (EIX) swung to a loss as it took several hundred million dollars in charges from settling nearly two decades' worth of tax issues with the Internal Revenue Service. While results remained weak at its power-generation unit, the source of the tax charges, Edison's earnings topped analysts' expectations. Its stock rose 1.3% to $31.70.

Warner Chilcott Earnings Top Estimates

Warner Chilcott Ltd.'s (WCRX) profit surged 67% on higher margins and lower interest and tax costs while sales of its dermatology products led revenue growth. Shares gained 2% to $16.31.

Mirant Posts Profit, Again Cuts 2010 Income View

Electricity producer Mirant Corp. (MIR) reversed a prior-year loss caused by big unrealized hedging losses as earnings topped analysts' expectations. But its stock fell 4.5% to $17.61 as revenue fell short of estimates and the company cut its 2010 earnings target again.

AES Earnings Slump 66% On 2008 Gains; Outlook Raised

AES Corp.'s (AES) earnings dropped 66% on sharply higher year-ago gains while revenue and margins fell. Yet the electricity company boosted its full-year profit outlook as the latest quarter's earnings handily beat analysts' views. Shares rose 3.3% to $13.57.

PMI Loss Narrows, But Results Well Short Of Estimates

PMI Group Inc.'s (PMI) loss narrowed on lower claims and loss-adjustment expenses despite continued woes at its U.S. mortgage-insurance business. Results widely missed analysts' views, sending its stock down 14% to $3.03.

LifePoint Hospitals Posts Surprise Earnings Drop

LifePoint Hospitals Inc. (LPNT) earnings unexpectedly fell as admissions continued to drop. The board of the rural-hospital operator authorized a $100 million stock-buyback effort the next 18 months. Shares slid 7.5% to $25.94.

Cimarex Tops Views; Results Improve From Prior Quarters

Cimarex Energy Co.'s (XEC) earnings plunged 83%, primarily on sharply lower oil-and-gas prices, while the company also recorded mark-to-market losses on derivatives and asset write-downs. However, the results topped analysts' expectations and were an improvement from the past two quarters. Its stock was little changed.