ChevronTexaco Corporation (CVX: chart) announced before the bell Friday that its quarterly profits more than doubled from last year, driven by higher oil and gasoline prices. The San Ramon, California-based second-largest U.S. oil company turned in record net income of $4.1 billion, or $3.88 per share, for the second quarter of 2004, in contrast to net income of $1.6 billion, or $1.50 per share, in the prior-year comparable quarter. Excluding extraordinary items, earnings came to $3.09 per share for the quarter ended June 30, up from $1.61 per share, a year ago, and well ahead of the average analysts’ estimate of $2.72 per share. Revenue in the quarter surged 31% to $38.3 billion from $29.3 billion in 2003, boosted by high commodity prices and strength in refining and marketing. For the first six months of the year, ChevronTexaco reported a profit of $6.69 billion, or $6.28 per share, on revenue of $71.97 billion. For the same period in 2003, earnings were $3.52 billion, or $3.31 a share, on revenue of $60.15 billion.

Company shares gained 17 cents on Friday to $95.65.

Anadarko Petroleum Corporation (APC: chart) reported before market open Friday a 35% jump in its quarterly earnings, citing higher commodity prices as main factor for the improvement. The Woodlands, Texas-based oil and gas company announced net income of $405 million, or $1.59 a share, for its fiscal 2004 second quarter ended June 30, compared with net income of $301 million, or $1.20 a share, a year ago. Results were 2 cents a share above the mean estimate of analysts. Quarterly revenue rose 15% to $1.44 billion.

The stock closed Friday up 64 cents, or 1.08%, at $59.79.

Public Service Enterprise Group Incorporated (PEG: chart) of Newark, New Jersey, said Friday that its second-quarter net earnings slipped 7% to $124 million, or 52 cents a share, from $133 million, or 59 cents a share, generated in the same quarter in 2003. The electric utility company recorded operating revenue of $2.29 billion in the quarter, down 4.6% from last year. The company said results were hurt by replacement power costs, which were attributable to longer-than-planned outages at certain nuclear power stations.

Company shares dipped 2.13% to close Friday at $39.00. The stock gained a penny to $39.01 in after-hours trading.

Edison International (EIX: chart) posted Friday a second-quarter net loss of $374 million, or $1.13 per share, weighed down by charges. For the 2003 corresponding period, the Rosemead, California-based electricity utility had net income of $24 million, or 7 cents per share. Excluding items, the company reported a profit of 32 cents a share, missing the consensus analysts’ forecast of 45 cents a share.

The stock rose 3.59% to $26.80 at market close Friday. Edison shares added a penny to $26.81 in after-market trade.

American Electric Power Company, Inc. (AEP: chart) of Columbus, Ohio, announced Friday that its quarterly earnings tumbled 43%, blaming storms in several states for an increase in maintenance costs. The power generator and distributor reported a second-quarter profit of $100 million, or 25 cents a share, against a profit of $175 million, or 44 cents a share, last year. Adjusted earnings totaled 38 cents a share, falling short of Wall Street’s average view of 43 cents a share. Revenue in the quarter eased to $3.4 billion from $3.5 billion.

AEP shares closed Friday at $31.11, down 38 cents, or 1.21%. The stock gained a penny to $31.12 in the extended session.

Archer Daniels Midland Company (ADM: chart) reported Friday that it swung to a quarterly loss from a prior-year profit, dragged by a legal settlement. The Decatur, Illinois-based agribusiness giant announced a loss of $103.1 million, or 16 cents a share, for the fiscal fourth quarter, which compares to a profit of $95 million, or 15 cents a share, for the 2003 equivalent. Excluding items, ADM posted operating earnings of 23 cents a share, a penny short of the mean estimate of analysts. Quarterly revenues advanced 20% to $9.7 billion from $8 billion, a year ago.

The stock skidded 3.86% to close Friday at $15.43. ADM shares inched up 7 cents to $15.50 in after-hours trading.

Bowater Incorporated (BOW: chart) of Greenville, South Carolina, posted Friday a narrower quarterly loss, due to gains from asset sales, favorable currency exchange rates and higher newsprint prices. The newsprint maker reported a net loss of $1.3 million, or 2 cents per share, for its second quarter, against a loss of $25.7 million, or 45 cents per share, for the same quarter in 2003. Excluding items, loss was 26 cents a share, falling a penny shy of analysts’ expectations. Sales surged to $788.0 million in the quarter, from $664.1 million a year ago, aided by strong demand.

Bowater shares shed 27 cents on Friday to $37.30.

Deutsche Bank AG (DB: chart) on Friday rolled out higher quarterly profits, which, however, missed analysts’ projections due to weakness in investment banking. The German bank said that it had a net profit of €656 million ($792 million) in its fiscal second quarter, up 15% from a year-earlier net profit of €572 million. Analysts had called for a profit of €781 million ($944 million).

The stock slipped 2.35% to $69.50 at market close Friday.

Irwin Financial Corporation (IFC: chart) of Columbus, Indiana, posted Friday earnings of $17.9 million, or 60 cents per share, for its second quarter, a 36% increase from $13.2 million, or 45 cents per share, generated in the second quarter in 2003. The bank cited strength in loans and leases, and lower credit costs as main factors for the profit rise. Quarterly revenue climbed 14% to $139 million from $122 million, in 2003.

Company shares dived 2.80% to close Friday at $26.73.

The Washington Post Company (WPO: chart) reported Friday that its second-quarter income surged 40% to $84.9 million, or $8.82 per share, from year-earlier income of $60.6 million, or $6.32 per share. The Washington, DC-based media company attributed the results to strong performance in its Kaplan education unit. The consensus forecast of analysts was for a profit of $8.32 per share.

The stock closed Friday up $21.40, or 2.53%, at $867.90.