ChevronTexaco Corp. (CVX: chart), the second-largest U.S. oil company, said its quarterly profit quadrupled as refining and marketing margins improved and gas and oil prices rose. The San Ramon-based company earned $1.50 a share in the second quarter, up from 39 cents a share in the same period last year. Revenue surged 16 percent to $29.4 billion.

Constellation Energy Group Inc. (CEG: chart), owner of Baltimore Gas and Electric Co., said its second-quarter profit rose 19 percent to 58 cents a share from 50 cents in the year-earlier quarter due to gains in its power-generation and energy-marketing units. Revenue more than doubled to $2.27 billion.

UAL Corp. (UALAQ.OB), parent of United Airlines, posted the biggest quarterly loss of all major U.S. carriers, including reimbursement from the federal government for security fees. The world's second-largest airline said it lost $6.26 a share in the second quarter, compared with $6.98 a share at the same time last year. Revenue plunged 18 percent to $3.1 billion.

Results reflect depressed travel amid the war in Iraq and the spread of the deadly Severe Acute Respiratory Syndrom in Asia.

Japan Airlines System (JALSF.PK), the world’s sixth-largest airline, posted a net loss of 77.28 billion yen ($640.74 million), hurt by the depressed international passenger travel and the cargo business. Revenue totalled 398.85 billion yen for the quarter.

Bank of East Asia Ltd. (BKEAF.PK) said its net rose 5.1 percent in the first half of 2003 due to non-interest-income gains and cost cuts. The bank's net rose to HK$792.5 million (US$101.6 million) from year-earlier net of HK$753.9 million. Non-interest rose 15 percent to HK$950.7 million, helped by securities investments and foreign-currency trading.

U.S. health insurer Cigna Corp. (CI: chart) swung to a quarterly loss, hurt by medical costs and a big charge for exiting its death benefit annuity or reinsurance business. Second-quarter loss was 38 cents a share, compared with a profit of $1.50 a share last year. Revenue slipped 2.4 percent to $4.63 billion.

Business Objects SA (BOBJ: chart), a French-American supplier of data analysis software, said its second-quarter earnings dropped amid the upgrade of its flagship product. Net income was down to $11.5 million, or 18 cents a share, from $11.9 million, or 18 cents a share in the year-ago quarter. Revenue grew 16 percent to $129 million due to currency fluctuations.

International Rectifier Corp. (IRF: chart), a developer of power management technology based in El Segundo, California, said its fourth-quarter earnings dropped to 20 cents a share, compared with 25 cents a share in the year-earlier quarter. Excluding charges, the company earned 24 cents a share, beating analyst estimates by a penny. Revenue was up 13 percent to $228.4 million.

IndyMac Bancorp Inc. (NDE: chart), a mortgage banking company based in Pasadena, California, said its earnings year-over-year rose 20 percent to 73 cents a share in the second quarter. Revenue rose 25 percent to $173 million. The company also boosted its dividend 50 percent to 15 cents.

Hardinge Inc. (HDNG: chart), a producer of material-cutting equipment based in Elmira, New York, said profit in the second quarter jumped to seven cents a share, compared with two cents a share in the same period last year. Revenue was up 7.7 percent to $47.5 million.

Strayer Education Inc. (STRA: chart), an education services company based in Arlingron, Virginia, earned 60 cents a share in the second quarter, up from 51 cents a share in the same period last year and two cents ahead of analyst estimates at First Call. Revenue surged 24 percent to $37 million on increased enrollment and an increase in tuition. The company expects to earn $2.04 to $2.08 a share in 2003.