10:45 AM New York – Focus Media first quarter net surged 85% to $37.9 million. Bank of Nova Scotia second quarter net declined 10% to $1.46 billion.

Earnings Review

Focus Media Holding Limited (FMCN) advanced 7% or $1.51 to $22.89 after the Hong Kong based digital media company reported first quarter ended March sales soared 36.2% to $199.6 million compared to $146.6 million in the same period last year. Net income in the quarter surged 85% to $37.9 million or 28 cents per diluted share compared to $20.5 million or 15 cents per share a year ago period.

Sanderson Farms, Inc. (SAFM), the poultry products maker reported second quarter ended April net sales surged 61.4% to $595.0 million compared to $479.3 million in the same period last year. Net income in the quarter swung to $23.9 million or $1.04 per diluted share compared to net loss of $16.3 million or 74 cents per share a year ago.

The Bank of Nova Scotia (BNS), the financial institution reported second quarter ended April total revenue rose 1.3% to $4.70 billion compared to $4.64 billion in the same period last year. Net income in the quarter declined 10% to $1.46 billion or $1.15 per diluted share compared to $1.62 billion or $1.39 per share a year ago earlier.