Earnings roundup: Ambac, SkyWest

Among the earnings stories for Wednesday, Nov. 5, from AP Financial Desk News:

NEW YORK (AP) — Bond insurer Ambac Financial Group Inc. said its third-quarter loss widened sharply as it increased loss reserves for mortgage-backed securities and took write-downs on credit derivatives.

ST. GEORGE, Utah (AP) — SkyWest Inc., parent of regional feeder carriers SkyWest Airlines and Atlantic Southeast Airlines, said its third-quarter profit fell 39 percent despite an increase in sales.

NEW YORK (AP) — Paper and wood-products company Domtar Corp. said its third-quarter profit rose 19 percent on higher selling prices, reduced energy and chemical usage, lower costs and a favorable exchange rate.

TEANECK, N.J. (AP) — Information technology and outsourcing company Cognizant Technology Solutions Corp. said its third-quarter profit increased as revenue climbed to beat Wall Street's expectations.

DALLAS (AP) — MetroPCS Communications Inc. said its third-quarter profit dropped 15 percent, weighed down by higher operating expenses.

NEW YORK (AP) — Steel producer Gerdau Ameristeel Corp. said its third-quarter profit more than doubled as prices climbed and revenue from newly acquired businesses boosted volumes, offsetting higher materials cost.

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