Earnings roundup: Canadian National, Legg Mason

Among the earnings stories for Monday, July 20, from AP Financial News:

NEW YORK (AP) — Canadian National Railway Co. said its second-quarter profit fell 16 percent as the recession in North America cut into freight volumes.

BALTIMORE (AP) — Asset manager Legg Mason Inc. reported a better-than-expected profit for the first quarter — reversing a yearlong string of losses. Much of the improvement came from cutting costs, although the company did boost assets under management as fund outflows were stemmed.

FREMONT, Calif. (AP) — Volterra Semiconductor Corp. reported an 80 percent decline in second-quarter earnings as lower sales and higher expenses cut into the chipmaker's bottom line.

DALLAS (AP) — Chip maker Texas Instruments says its second-quarter earnings fell 56 percent from a year ago, clipped by a weak economy that the company expects will "take some time" to strengthen.

SCOTTSDALE, Ariz. (AP) — JDA Software Group Inc., which makes software to help retailers manage their inventories, said its second-quarter profit nearly tripled, helped by robust sales.

NEW YORK (AP) — Women's apparel retailer Cache Inc. said second-quarter earnings dropped 60 percent as waning consumer spending hurt same-store sales, but still managed to top Wall Street expectations.

CLEVELAND (AP) — Eaton Corp., which makes parts, hydraulics and electrical equipment used in a range of industries, reported a 92 percent drop in second-quarter earnings as the global recession drove down its sales especially in its key automotive markets.

NEW YORK (AP) — Transformers aren't just titans at the box office, they're flying off toy shelves, too. Toy maker Hasbro Inc. said strong sales of the morphing robots helped its second-quarter profit rise past analyst expectations.

HOUSTON (AP) — Halliburton on Monday said its profit tumbled for a second straight quarter, primarily from a falloff in natural-gas production in North America, and the oilfield services giant offered little hope for an uptick in drilling before year's end.