Local earnings

A few companies released quarterly financial reports on Monday.

Cooper Tire

Cooper Tire & Rubber Co. on Monday said that it swung to a profit in the second quarter as the company continued to benefit from cost cuts introduced nearly a year ago and also enjoyed higher prices in North America and increasing sales overseas.

Cooper said it made $18 million, or 28 cents per share, for the quarter ended June 30 compared with a loss of $21 million, or 34 cents a share, a year ago that was blamed on weak demand for replacement tires. Former Chief Executive Thomas Dattilo quit the day the loss was announced.

Sales totaled $750.6 million, compared with $624.8 million last year.

Shares jumped $1.07, or 5 percent, to close at $22.25.

"The second quarter of 2006 was an unforgettable low point for our company," Cooper President and Chief Executive Roy Armes said in a statement. "I am proud of the work performed by Cooper employees around the globe. Their efforts have significantly contributed to our return to profitability."

Wynn Resorts

Wynn Resorts Ltd., the casino company founded by billionaire Steve Wynn, reported a second-quarter profit as revenue more than doubled because of its 11-month-old resort in Macau, China.

Net income was $89.6 million, or 82 cents a share, compared with a loss of $20.1 million, or 20 cents, a year earlier. Revenue more than doubled to $687.5 million, the Las Vegas-based company said.

Wynn Resorts' Macau casino opened in September and helped contribute to a 50 percent increase in the region's gambling revenue during the second quarter. The company is expanding in Macau, the only part of China where gambling is legal, with a 123,000-square-foot addition.

Shares of Wynn Resorts rose $6.33 to $107.39 in Nasdaq Stock Market composite trading Monday. The shares have climbed 42 percent since the Wynn Macau opened on Sept. 6.

Clearwire

Clearwire Corp., the wireless Internet service provider, reported a wider second-quarter loss as spending on a new network outpaced sales growth.

The loss widened to $118.1 million, or 72 cents a share, from $76.8 million, or $1.01, a year earlier, Kirkland, Wash.-based Clearwire said. Sales rose 32 percent to $35.5 million.

Shares of Clearwire rose 72 cents, or 2.5 percent, to $29.52 on the Nasdaq Stock Market. They have gained 18 percent since trading began in March.

Clearwire competes with AT&T Inc., the largest U.S. phone-service provider, and cable-television operator Comcast Corp., which both have millions of customers.

Clearwire, founded in 2003, reported its second quarterly earnings since selling shares to the public.

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Contributing: Associated Press, Bloomberg News