MIDEAST STOCKS-Saudi extends losses as earnings disappoint; most mkts dip | Reuters:
"Saudi Arabia's shares extended losses on Monday as earnings disappointed investors, while most other Middle East bourses retreated in profit-taking.
Saudi's retail and telecom sectors led declines after key companies' profits missed analysts' expectations.
Fawaz Abdulaziz Alhokair posted an 11.8 percent rise in second-quarter profit to 282.08 million riyals ($75.21 million), trailing a forecast average of 299.9 million riyals, despite higher sales.
Analysts blamed Alhokair's lower-than-expected profit growth on ebbing revenue growth.
NCB Capital said Alhokair's 13.5 percent revenue growth year-on-year was the lowest quarterly growth in 15 quarters."
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