11:25 AM New York – Belden second quarter net climbed 22.2% and Nordstrom net declined 10.9% but the company lifted annual outlook. Nvidia second quarter net plunged 12% and J. C. Penney net swung to $147 million loss. MBIA second quarter net jumped more than three-fold to $581 million.

Belden Inc. (BDC) fell 23 cents to $35 after 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 to be $1.95 billion to $1.97 billion and adjusted income from continuing operations per share to be $2.95 to $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) gained 2.4% or 1.33 to $56.41 after 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 be between $3.40 and $3.50 for fiscal year 2012 and estimated same store sales to be mid-single-digit increase in fourth quarter.

Nvidia Corporation (NVDA) rose 8 cents to $14.79 after the 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 expectes revenue for the third quarter is to be between $1.15 billion and $1.25 billion.

J. C. Penney Company, Inc. (JCP) climbed 6.6% or $1.46 to $23.56 after the holding company reported net sales in the second quarter of 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) slipped 1.2% or 13 cents to $9.93 after 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) increased 1.3% or 51 cents to $39.35 after the electronics display maker reported net sales in the second quarter ending in June surged 166% to $30.0 million compared to $11.3 million in the same period of last year. Net income in the quarter climbed 22.2% to $11.0 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 will be in the range of $90 million to $110 million.