Morgan Stanley (MWD: chart) said before the bell Tuesday that its quarterly earnings more than doubled from last year, citing strong performance in all of its businesses. The New York-based investment bank rolled out net income of $1.22 billion, or $1.10 a share, for the second quarter of fiscal 2004, compared with net income of $599 million, or 55 cents a share, a year earlier. Morgan Stanley said results in both quarters included an impairment charge. Analysts were looking for a second-quarter profit of $1.06 a share. For the quarter ended May 31, net revenues improved 32% to $6.65 billion from $5.05 billion, in the 2003 equivalent. The company’s Institutional Securities business recorded net revenues of $3.9 billion, a 47% jump from a year earlier, as its fixed income business produced record net revenues of $1.8 billion, up 43% from the prior-year period. Net revenues from equity sales and trading were up 29% from a year ago to $1.1 billion.

The stock edged up 90 cents to close Tuesday at $52.15. Company shares dropped 15 cents to $52.00 in after-market trade.

The Goldman Sachs Group, Inc. (GS: chart) announced before market open Tuesday a 71% increase in its quarterly profits, driven by rising revenue from its trading and principal investments division. The New York-based financial services firm turned in earnings of $1.19 billion, or $2.31 per share, for its fiscal 2004 second quarter ended May 28. That compares to earnings of $695 million, or $1.36 per share, in the 2003 comparable quarter. The 2004 second-quarter earnings glided past analysts’ projections of $1.95 per share, on average. Net revenues in the quarter surged 38% to $5.51 billion from $3.99 billion, last year. Net revenue in the company’s trading and principal investments segment jumped 35% to $3.63 billion, with its fixed income, currency and commodities business generating revenue of $1.89 billion, up 15% from a year ago. Revenues from investment banking rose 45% to $953 million, while revenues from asset management and securities services advanced 43% to $931 million in the quarter.

Goldman shares rose 2.04% on Tuesday to $90.60. The stock added 10 cents to $90.70 in after-hours trading.

3Com Corporation (COMS: chart) of Marlborough, Massachusetts, posted after the bell Tuesday a narrower fourth-quarter loss of $18.7 million, or 4 cents a share, compared with a year-earlier loss of $38 million, or 11 cents a share. The networking company attributed the results to improved demand for its equipment. Quarterly sales climbed 5% to $183.3 million from $175 million, in the same quarter of 2003. Analysts had forecast a loss of 10 cents a share on revenue of $173 million.

3Com shares soared 6.19% to $6.86 at market close Tuesday. The stock gained 11 cents to $6.97 in the extended trade.

GTECH Holdings Corporation (GTK: chart) said Tuesday that its first-quarter net income jumped 31% to $53.6 million, or 80 cents a share, from net income of $41 million, or 68 cents a share, in the year-earlier period. The West Greenwich, Rhode Island-based world's No.1 operator of lotteries cited continued strong sales and acquisitions as main factors for the profit rise. The mean estimate of analysts was for a profit of 73 cents a share.

The stock closed Tuesday down 78 cents, or 1.56%, at $49.25.

The Kroger Co. (KR: chart) of Cincinnati, Ohio, reported Tuesday a 25% drop in its quarterly profits, hurt by a 5-month Southern California labor strike. The grocery chain announced earnings of $262.8 million, or 35 cents per share, for its fiscal first quarter, in contrast to $351.5 million, or 46 cents per share, generated in the year-ago equivalent. Results were a penny ahead of the consensus estimate of analysts. Kroger said the strike cut its earnings by 10 cents per share.

Kroger shares gained 47 cents on Tuesday to $17.84.

Christopher & Banks Corporation (CBK: chart) announced Tuesday a smaller quarterly profit, due to weaker sales at stores open at least a year. The Plymouth, Minnesota-based women's apparel retailer reported income of $10.2 million, or 27 cents a share, for its first quarter, down from year-ago income of $11.1 million, or 29 cents a share. Sales climbed 10% to $102.6 million in the quarter but same-store sales slipped 5%.

The stock shed 16 cents to close Tuesday at $17.64.

Steelcase Inc. (SCS: chart) of Grand Rapids, Michigan, posted Tuesday a narrower first-quarter net loss of $5.7 million, or 4 cents a share, compared with a loss of $13.4 million, or 9 cents a share, in the 2004 corresponding period. Analysts had expected the office furniture maker to report a loss of 7 cents a share, on average. Steelcase credited an improving U.S. economy and a weak dollar for the results.

Steelcase shares closed Tuesday at $13.50, up 33 cents, or 2.51%.

Lindsay Manufacturing Co. (LNN: chart) said Tuesday that its third-quarter earnings declined from last year as steel prices increased. The Omaha, Nebraska-based manufacturer of irrigation systems for the agriculture industry announced a net profit of $4.3 million, or 36 cents per share, for the third quarter, against a net profit of $4.8 million, or 41 cents per share, in the same quarter of 2003. Revenue advanced to $62.3 million in the quarter from $48.8 million, on strong demand.

The stock inched up 4 cents to $23.40 at market close Tuesday.

Knight-Ridder, Inc. (KRI: chart) of San Jose, California, said Tuesday that it expects its quarterly earnings to beat Wall Street’s estimates, helped by revenue growth and a more favorable tax rate. The newspaper publisher projected a second-quarter profit in the range of $1.06 to $1.08 a share, while the mean analysts’ forecast is $1.04 a share. For the same quarter last year, Knight Ridder earned 95 cents a share.

Company shares dropped 21 cents to close Tuesday at $72.83. The stock was up 0.32% to $73.06 in the extended session.

Belo Corp. (BLC: chart) on Tuesday forecast earnings of 37 cents to 38 cents a share for its fiscal second quarter, which would fall just short of the average analysts’ estimate of 39 cents a share. The Dallas, Texas-based media company reported a profit of 34 cents a share in the year-earlier quarter. Belo said second-quarter revenue from political advertising was stronger than expected.

The stock dipped 3.38% on Tuesday to close at $26.90.