("US EARNINGS WRAP: JPMorgan Profit Soars, Harley Sinks," published at 10:13 a.m. EDT, mischaracterized Baxter International's sales. A corrected story appears below.) 
   DOW JONES NEWSWIRES

Below is a synopsis of major second-quarter releases from Thursday morning:

JPMorgan Wallops Earnings Views On Investment Banking

JPMorgan Chase & Co.'s (JPM) earnings rose 36% on strong investment-banking results, with the profit smashing analysts expectations, but rising loan losses continue to hurt the bottom line. Shares, which rallied earlier this week, were down 2% at $35.55.

Harley-Davidson Cuts Shipment View

Harley-Davidson Inc.'s (HOG) profit plunged 91% amid write-downs and its planned shipment decline of its iconic motorcycles. The company, which for years couldn't produce enough to meet demand, announced plans Thursday to cut 1,000 more jobs as it slashed its output forecast again. Shares climbed 6.9% to $18.70.

Marriott Reports More Woes, Sees Troubles Persisting

Marriott International Inc.'s (MAR) earnings fell 76% as the hospitality industry continues to suffer. The hotel operator and franchiser declined to give its typical earnings forecasts, citing the uncertain economy, but sees third-quarter revenue per available room down 20% to 23% in North America and 22% to 24% abroad. That's comparable to the latest quarter. Marriott's stock slid 6.4% to $20.40.

Baxter Profit Tops Views, Raises Earnings Target

Baxter International Inc. (BAX) posted a stronger-than-expected 7.9% profit rise as product sales absent currency changes showed solid growth. The medical-products maker also boosted its 2009 earnings forecast slightly. Shares gain 1.8% to $54.06.

Biogen Earnings Drop On Acorda Payment; Trial Scaled Back

Biogen Idec Inc.'s (BIIB) profit fell 31% on a $110 million payment regarding its partnership and licensing pact with Acorda Therapeutics Inc. (ACOR). The payment masked strong sales of Biogen's Tysabri multiple-sclerosis drug and the company's results topping expectations. Shares climbed 2.7% to $47.91 as Biogen also said it is scaling back the test of experimental heart-failure drug Adentri.

Sonoco Hurt By Restructuring, Volume Drop

Sonoco Products Co.'s (SON) earnings fell 42% on higher pension and restructuring expenses while volumes for the packaging company continued to fall. The profit topped the company's downbeat forecast while sales fell short of analysts' estimates. Shares rose 5.8% to $26.61.

Paint, Chemical Firm PPG Tops Profit Views

PPG Industries Inc.'s (PPG) earnings fell 42% on slumping sales but the paint, glass and chemical maker handily topped analysts' profit target on higher margins. Chairman and Chief Executive Charles E. Bunch expects market demand to improve this quarter, "but only mildly." PPG's stock gains 6.4% to $49.06.

Cypress Seminconductor Posts Loss As Sales Slide

Cypress Semiconductor Corp. (CY) swung to a loss as results were better than analysts feared as customers slowed the pace of inventory reductions. Shares rose 1.5% to $9.80 as the company expects "above-average seasonal revenue growth" in the third quarter.

Schwab Earnings Fall On Asset, Interest-Income Drop

Discount broker Charles Schwab Corp. (SCHW) reported a 31% earnings decline amid restructuring and federal insurance costs while revenue fell on a drop in assets and 29% slide in interest income. Its shares fell 2.8% to $17.58.

NAPA Parent Genuine Parts Hurt By Industrial Weakness

Genuine Parts Co.'s (GPC) profit slid a less-than-expected 22% as its auto-parts business held up and the company's industrial operations continued to slump. The stock fell 2% to $33.73.