Top Headlines Of The Day (YOKU, RAIL, CTSH, GM, BRS)

Youku Inc (ADR) (NYSE:YOKU) shares climbed 11% to $18.17 after the company reported second-quarter net loss of RMB62.8 million or US$9.9 million, from RMB28.1 million or US$4.4 million for the same period last year. Net loss per ADS was RMB 0.54 or US$0.09, compared to a loss of RMB 0.26 in the prior year. Non-GAAP net loss was RMB29.3 million or US$4.6 million, compared to the non-GAAP net loss of RMB20.8 million or US$3.3 million in the year ago period. Net revenues were RMB387.4 million or US$61.0 million in the second quarter of 2012. Analysts expected the company to report a loss of US$0.14 per share on revenues of US$61.11 million. 

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FreightCar America, Inc. (NASDAQ:RAIL) shares declined 10% to $18.90 after the company posted a second-quarter net income of $5.6 million or $0.46 per share, from the year-ago quarter's $0.2 million or $0.02 per share. Quarterly revenues climbed to $181.2 million from $97.6 million in the prior-year quarter. Analysts expected the company to report earnings of $0.57 per share on revenues of $189.34 million for the quarter.

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Cognizant Technology Solutions Corp (NASDAQ:CTSH) stock soared 12% to $64.75 after the company posted second quarter net income of $251.93 million or $0.82 per share from last year's $208.05 million or $0.67 per share. Adjusted earnings per share rose to $0.88 from $0.72 a year earlier. Revenues climbed 20.9 percent to $1.795 billion for the quarter. Analysts expected earnings of $0.80 per share on revenues of $1.79 billion for the quarter. Revenue rose 4.9 percent sequentially.

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General Motors Company (NYSE:GM) and its joint ventures sold a July record of 199,503 vehicles in China, a 15.1% increase from last year's previous high for the month. Shanghai GM's sales in China increased 5.7% on an annual basis to a July record of 97,064 units.

Additionally, Spyker NV, the owner of bankrupt Swedish car maker Saab Automobile, said it has started legal proceedings against General Motors, the former owner of Saab. Spyker said the lawsuit seeks redress for actions GM allegedly took to avoid competition with Saab Automobile in the Chinese market.

Bristow Group Inc (NYSE:BRS) announced that its board of directors have declared a quarterly dividend of $0.20 per share of common stock issued and outstanding at the close of business on August 31, 2012 (the Record Date). The dividend will be payable on September 14, 2012 to stockholders of record at the close of business on the Record Date.