Earnings roundup: Procter & Gamble, Legg Mason

Among the earnings stories for Wednesday, Oct. 29, from AP Financial News:

Top stories:

CINCINNATI (AP) — Consumer products maker Procter & Gamble Co. said Wednesday that profit rose nearly 9 percent in its fiscal first quarter, boosted by strong growth in emerging markets.

Other stories:

BALTIMORE (AP) — Legg Mason Inc. on Wednesday posted a worse-than-expected fiscal second-quarter loss, reversing a tidy profit from a year ago, as revenue tumbled and the asset manager recorded a massive charge related to the market meltdown.

CORONA, Calif. (AP) — Branded and generic drug maker Watson Pharmaceuticals Inc. said Wednesday its third-quarter profit more than doubled on a mix of a favorable tax liability settlement and asset sale.

CINCINNATI (AP) — Scripps Networks Interactive Inc. said Wednesday that its third-quarter profit dipped 1 percent on charges related to its separation from former parent company E.W. Scripps Co.

PHILADELPHIA (AP) — FMC Corp. said late Tuesday its third-quarter profit more than doubled as a jump in sales offset high raw material prices.

TOLEDO, Ohio (AP) — Owens Corning reported Wednesday that sales increased 28 percent in the third quarter but the building materials company took a big loss due to an accounting charge.

LAS VEGAS (AP) — MGM Mirage says its third-quarter profit tumbled 67 percent as it dealt with a write-down, compared with a year-ago period that benefited from insurance proceeds related to Hurricane Katrina.

DENVER (AP) — Newmont Mining Corp., one of the world's largest gold producers, said Wednesday its third-quarter net income dropped by 51 percent due to higher production costs and plummeting copper sales.

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