Market Updates: Lorillard (NYSE:LO), Research In Motion (NASDAQ:RIMM), Citigroup (NYSE:C)

Lorillard (NYSE:LO) said Monday its second-quarter profit rose 10.7% to $291 million, or $2.05 a share, from $263 million, or $1.73 a share, in the year-ago period. Sales at the Greensboro, N.C., tobacco company rose 11% to $1.69 billion, from $1.52 billion. Wall Street analysts expected Lorillard to earn $2.02 a share, according to a survey by FactSet Research. "We are particularly pleased with the impact of our new strategic growth initiatives, highlighted by the successful introduction of Newport Non-Menthol," the company said. -MarketWatch BlackBerry maker Research In Motion (NASDAQ:RIMM) is cutting 2,000 jobs as part of a cost savings plan announced last month and is shuffling some senior executives. The job cuts amount to about 10 percent . . . → Read More: Market Updates: Lorillard (NYSE:LO), Research In Motion (NASDAQ:RIMM), Citigroup (NYSE:C)