With lower production and lower product prices, Fort Worth-based Quicksilver Resources wasn't going to have favorable second-quarter earnings to report Tuesday. But it also threw nearly $1 billion in writedowns on assets into the mix, for a net loss of $673 million, or $3.96 a share. After adjustments for one-time items, Quicksilver lost $21 million, or 13 cents a share. Wall Street analysts were expecting a loss of 6 cents a share, but the company's shares were up 5 percent in early trading. Quicksilver said it trimmed planned capital spending for the year's second half by $50 million and made changes to a credit agreement.
-- Jim Fuquay