10:45 AM New York – Belden second quarter net climbed 22.2% to $42.4 million. Nordstrom second quarter net declined 10.9% to $156 million. Nvidia second quarter net plunged 12% to $119 million. J. C. Penney second quarter net swung to $147 million loss. MBIA second quarter net jumped more than three-fold to $581 million.

Earnings Review

Belden Inc. (BDC), the networking products maker reported net sales in the second quarter ending in June slipped 9.7% to $484.0 million compared to $536.2 million in the same period of last year. Net income in the quarter climbed 22.2% to $42.4 million or 92 cents per diluted share compared to $34.7 million or 72 cents per share a year ago earlier.

For the full year, the company expects adjusted revenues between $1.95 billion to $1.97 billion and adjusted income from continuing operations per share between $2.95 and $3.05 and for the third quarter revenues to be $490 million to $500 million and 69 cents to 74 cents of continuing operations per share.

Nordstrom, Inc. (JWN), the specialty retailer reported net sales in the second quarter of ending on July 14 increased 7.4% to $2.92 billion compared to $2.72 billion in the same period of last year. Comparable store sales in the quarter increased 4.5% and full line same store sales increased 1.1%.

Net income in the quarter declined 10.9% to $156 million or 75 cents per diluted share compared to $175 million or 80 cents per share a year ago period.

Nordstrom lifted its expected earnings per share to a range of $3.40 and $3.50 for fiscal year 2012 and estimated same store sales to increase in mid-single-digit in the fourth quarter.

Nvidia Corporation (NVDA), graphics chips maker reported net sales in the second quarter of ending on July 29 grew 2% to $1.04 billion compared to $1.02 billion in the same period of last year. Net income in the quarter plunged 12% to $119.0 million or 19 cents per diluted share compared to $151.6 million or 25 cents per share a year ago period.

Nvidia expects revenue for the third quarter between $1.15 billion and $1.25 billion.

J. C. Penney Company, Inc. (JCP), the holding company reported net sales in the second quarter ending on July 28 plunged 22.6% to $3.02 billion compared to $3.91 billion in the same period of last year. Comparable store sales in the quarter declined 21.7%.

Net loss in the quarter swung to $147 million or 67 cents per diluted share compared to net income of $14 million or 7 cents per share a year ago period.

The retailer said it no longer anticipates to get previously issued non GAAP earnings guidance for fiscal 2012.

MBIA Inc. (MBI), the insurance company reported revenues in the second quarter ending in June climbed to $1.04 billion compared to $98 million in the same period of last year. Net income in the quarter jumped more than three-fold to $581 million or $2.98 per diluted share compared to $137 million or 68 cents per share a year ago.

Universal Display Corporation (PANL), the electronics display maker reported net sales in the second quarter ending in June surged 166% to $30 million compared to $11.3 million in the same period of last year. Net income in the quarter climbed 22.2% to $11 million or 23 cents per diluted share compared to $3.3 million or 3 cents per share a year ago earlier.

The company expects revenues for fiscal year in the range of $90 million to $110 million.