AFP - Ericsson, the world leader in mobile phone network equipment, reported a 70 percent collapse in net profit for the second quarter on Tuesday and a two-thirds fall in operating margins.

AP - Wachovia Corp. reported a surprisingly large second-quarter loss Tuesday, deflating Wall Street's hopes that the nation's big banks are weathering the credit crisis well. The bank said it lost $8.86 billion, is slashing its dividend and eliminating 10,750 positions after losses tied to mortgages soared.

Reuters - Bank of America Corp reported quarterly profit on Monday that fell less than expected on record revenue, boosting shares of the largest U.S. retail bank and mortgage lender despite a surge in bad loans.

AP - Bank of America Corp. has become the latest in a string of big banks whose second-quarter earnings, while hurting from the impact of the credit crisis, still managed to beat Wall Street expectations.

AP - Wall Street turned in a mixed performance Monday as investors watched the price of oil regain ground and decided to cash in some of their gains from the stock market's big rally last week.

AP - Shares of Apple Inc. fell sharply as investors focused more on the company's cautious guidance for the current quarter than on the blockbuster Macintosh and iPod sales during the previous three-month period.

AP - In a sign that even wealthier consumers are feeling the pinch of the credit crisis, American Express Co. said its second-quarter profit tumbled as it set aside more money to cover souring loans across all its portfolios.