AP - The banking sector looked a little brighter for a second straight day Thursday after JPMorgan Chase & Co. reported better-than-expected results despite a spike in mortgage and other loan defaults.

Reuters - Google Inc reported a weaker-than-expected 35 percent rise in net profit as the company blamed lower returns from managing its huge cash pile rather than softening sales of online advertising.

AP - RED FLAG: Although its growth rate remains impressive, Google's earnings missed analyst estimates and CEO Eric Schmidt acknowledged the economic climate is "challenging."

AP - THE PROFIT: IBM Corp.'s second-quarter profit rose 22 percent, easily beating Wall Street's expectations. The Armonk, N.Y.-based company is benefiting from continued strength in its services division despite growing economic worries.

Reuters - Microsoft Corp posted a quarterly profit and outlook below Wall Street expectations on Thursday, citing "tough" economic conditions, and its shares fell 6 percent.

Reuters - IBM reported a 22 percent rise in quarterly profit, blowing past Wall Street targets and raising its 2008 forecast, as emerging markets used its services, software and equipment to expand, and larger countries turned to technology to save money.

AP - Merrill Lynch & Co. on Thursday issued its latest assessment of the damage it has suffered from the credit crisis: its fourth straight quarterly loss and write-downs from failed investments approaching $40 billion.