Kellogg Co.

Kellogg Co. Kellogg Co. said Thursday its profit rose 3.7 percent in the second quarter as a result of product innovation and again raising prices to offset higher costs. The maker of Special K, other cereals and Keebler cookies came in slightly ahead of Wall Street's expectations, and it boosted its guidance for the full year. Kellogg reported a profit of $312 million, or 82 cents per share, for the three-month period ending June 28, up from $301 million, or 75 cents per share, during the same period last year. Revenue jumped 11 percent to $3.34 billion, the company said.

Aetna Inc. Aetna Inc. became the latest managed-care provider to reassure Wall Street with a solid second quarter, when it reported a 6 percent profit increase and reaffirmed its 2008 outlook Thursday. The Hartford, Conn., insurer followed earnings reports last week by the sector's two biggest companies, UnitedHealth Group Inc. and WellPoint Inc., that beat Wall Street expectations. "We think this is the last piece of evidence investors needed to believe that 2008 margins have broadly stabilized," Wachovia Securities analyst Matt Perry said in a research note. Aetna shares rose 1.7 percent on Thursday to end at $41.01, over Wednesday's closing price of $40.32. The company reported a profit of $480.5 million, or 97 cents per share, in the second quarter. That compares with $451.3 million, or 85 cents per share, during the same period last year. Revenue rose 15 percent to $7.83 billion from $6.79 billion. Excluding capital losses and a gain from the release of reserves from discontinued business, Aetna reported an adjusted profit of 94 cents per share. That edged Wall Street estimates, which typically do not include one-time items. Analysts polled by Thomson Financial expected a profit of 93 cents per share on revenue of about $7.9 billion.