In Brief - Tuesday

CBS, CBS the media giant, settled a breach-of-contract lawsuit with Don Imus. Terms of the settlement were not disclosed. Reports say that Imus will resume his broadcasting career. CBS fell 4% to 29.81.

AmBev, ABV the Brazilian unit of brewing giant InBev, said Q2 profit fell 7% to $226.6 mil on higher costs. Its revenue rose 12% to $801 mil. It cites strong beer sales in Brazil for the rise in sales. Shares slumped 4% to 64.24.

Genco Shipping & Trading GNK is buying six dry bulk vessels with an average age of roughly 2 years from Evalend Shipping for about $336 mil. The dry bulk shipper plans to pay for the ships with borrowings under a $1.4 bil revolving credit facility. It slid 4% to 53.37.

Computer Sciences, CSC a computer reseller that services federal and state agencies, said it will not file its Q1 results due to an accounting review. It reiterated its forecasts. Shares dipped 3.6% to 55.62.

GTSI GTSI, an IT services firm, said it lost 38 cents a share, missing views by 3 cents. It lost 32 cents last year. Sales declined 15% to $153.6 mil. Shares tumbled 8.5% to 10.48.

Comverge, COMV, a provider of software to electric utilities, said Q2 earnings were flat at a loss of 29 cents, missing views by 4 cents. Revenue grew 26% to 4.6 mil. It fell 10.7% to 26.46.