Federated Department Stores, Inc. (FD: chart) reported before market open Wednesday that its quarterly earnings more than doubled, driven by higher sales of full-priced spring clothing. The U.S. largest upscale department store retailer rolled out a profit of $96 million, or 52 cents per share, for the first quarter of fiscal 2004, in contrast to a profit of $46 million, or 24 cents per share, generated in the same period of 2003. The Cincinnati, Ohio-based company said that results for the quarter ended May 1 included store-closing and consolidation costs of $19 million. Federated beat its own earnings target, which it had previously raised to between 45 cents and 48 cents per share. Analysts were looking for a first-quarter profit of 48 cents per share, on average. The company reported sales of $3.5 billion in the quarter, up 6.9% from $3.3 billion a year earlier. Same-store sales were also up 6.9%.

Looking ahead, Federated said it expects to earn, excluding items, 67 cents to 72 cents per share in its fiscal second quarter.

Company shares rose 2.16% to $47.81 at market close Wednesday.

AnnTaylor Stores Corporation (ANN: chart) posted after the bell Wednesday a 77% surge in its first-quarter profits, boosted by strong performance at its lower-priced Ann Taylor Loft chain. The New York-based women's clothing retailer said it earned $31.8 million, or 65 cents per share, in its first quarter, compared with earnings of $17.9 million, or 39 cents per share, in the year-ago equivalent. Results were in line with Wall Street’s projections. First-quarter sales rose to $433.2 million from $426 million, last year.

The stock gained 84 cents on Wednesday to $39.83. Company shares slipped 1.02% to $39.42 in after-hours trading.

The Walt Disney Company (DIS: chart) announced Wednesday that its second-quarter net earnings soared 71% to $537 million, or 26 cents per share, from net earnings of $314 million, or 15 cents per share, in the prior-year period. The Burbank, California-based media and entertainment titan credited the profit rise to solid results at its theme parks and sports cable network ESPN. Revenue climbed 11% in the quarter to $7.2 billion. Analysts had expected Disney to earn 21 cents a share, on revenue of $6.8 billion.

Disney shares inched up 2 cents to close Wednesday at $23.00. The stock rose 1.91% to $23.44 in after-market trade.

Compuware Corporation (CPWR: chart) of Detroit, Michigan, said Wednesday that it had fourth-quarter income of $33.9 million, or 9 cents a share, a 58% increase from income of $21.4 million, or 6 cents a share, in the comparable period of 2003. The provider of testing, development, and management software attributed the results to solid license revenue growth and lower expenses. Fourth-quarter earnings met Wall Street’s expectations.

The stock dropped 5 cents to $7.24 at market close Wednesday. Compuware shares were up 2.21% to $7.40 in after-hours trading.

Intelligent Systems Corporation (INS: chart) reported Wednesday a net loss of $820,000, or 18 cents per share, for the fiscal 2004 first quarter, against a net profit of $949,000, or 21 cents per share, for the corresponding quarter a year earlier, when results were fuelled by an investment gain of $3.5 million. The Norcross, Georgia-based company, which invests in information technology and industrial products, recorded revenue of $4.6 million in the quarter, up 45% from $3.2 million a year ago, aided by higher software license sales.

Company shares soared 7.00% on Wednesday to $2.14.

AEGON N.V. (AEG: chart) posted Wednesday quarterly earnings that more than doubled from last year, helped by investment gains. The Netherlands-based insurer turned in a net profit of €354 million ($420.8 million) for its first quarter, in contrast to a year-earlier net profit of €170 million. Excluding the gains, earnings came to €284 million ($337.6 million), down from €286 million, last year. Quarterly sales eased 2.6% to €7.4 billion ($8.8 billion).

The stock plunged 6.15% to close Wednesday at $11.60.

European Aeronautic Defence and Space Company EADS N.V. ((EAD.PA)) announced Wednesday higher quarterly income, citing strong Airbus sales as main factor for the improvement. The Europe’s No.1 aerospace company based in France reported a net profit of €49 million ($58 million), for its first quarter, compared with a net profit of €28 million, a year earlier. Sales advanced 9% to €6.03 billion ($7.16 billion), with Airbus sales rising 9% to €4.13 billion ($4.90 billion).

EADS shares dipped 2.7% on Wednesday to €19.27 ($22.87) on Paris Stock Exchange.

Deutsche Lufthansa AG (DLAKY: chart) said Wednesday that it swung to a profit in its first quarter, helped by a gain from the sale of a stake in the Amadeus travel reservation company. The German airline posted net income of €62 million ($73 million) for the first quarter, rebounding from a prior-year loss of €356 million. Lufthansa recorded sales of €3.89 billion ($4.6 billion) in the quarter, compared with €3.7 billion in 2003.

QUALCOMM Incorporated (QCOM: chart) of San Diego, California, raised Wednesday its quarterly earnings target, due to higher licensing royalties and strong demand for its new phone chips. The wireless technology company said it now expects third-quarter earnings of 51 cents to 53 cents per share, on revenue growth of 44% to 46%. QUALCOMM had previously projected a profit of 48 cents to 50 cents a share, and revenue growth of 41% to 44%.

The stock slid 1.27% to close Wednesday at $63.90. QUALCOMM shares shed 20 cents to $63.70 in after-market trade.

Hurt by weaker sales, CarMax, Inc. (KMX: chart) lowered Wednesday its first-quarter profit outlook to a range of 30 cents to 32 cents a share, down from an earlier guidance of 33 cents to 35 cents a share. The Richmond, Virginia-based top specialty retailer of used cars blamed high gasoline prices for the drop in sales. Analysts forecast a first-quarter profit of 34 cents a share, on average.

CarMax shares plummeted 13.20% to $21.70 at market close Wednesday.