DOW JONES NEWSWIRES

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

Ford Posts Profit, Shares Rally

Ford Motor Co. (F) returned to profitability on a $3.4 billion debt-related gain as the company burned just $1 billion in cash during the quarter. The stock rose 7.7% to $6.87.

Bristol, Wyeth Report Growth, Boost EPS Views

Bristol-Myers Squibb Co. (BMY) and Wyeth (WYE) reported higher earnings while the companies, like their peers earlier this week, boosted their 2009 earnings expectations. Bristol gained 1.1% to $20.52 while Wyeth, set to be acquired by Pfizer Inc. (PFE), edged higher.

AT&T Income Down Less-Than-Expected 15%

AT&T Inc.'s (T) profit fell 15% as more customers opted to cut their landline, with many of them likely switching to using just an iPhone. But results topped expectations, sending shares up 3.6% to $25.74.

3M Beats Muted Expectations, Raises Estimates

3M Co.'s (MMM) earnings fell 17% on amid lower demand, though the diversified manufacturer's results beat analysts' estimates. The company also raised its full-year forecast, helping the stock climb 4.4% to $67.54.

McDonald's Disappoints As Income Down 8% Amid Forex

McDonald's Corp.'s (MCD) earnings fell 8% as a prior-year gain and a big hit from unfavorable exchange rates masked sales gains. Its stock fell 3.8% to $56.59 as earnings only met analysts' expectations and revenue fell short.

UPS Profit Slumps 49% On Demand Woes; View Weak

United Parcel Service Inc.'s (UPS) income fell 49% on continued weak demand. The shipping company also projected third-quarter earnings below analysts' views. Shares edged lower.

CME Earnings Rise 10% Amid Nymex Purchase

CME Group Inc.'s (CME) profit rose 10% on increased revenue and margins as the prior-year results didn't include the New York Mercantile Exchange. Earnings bested analysts' views, but shares fell 1% to $270.06.

PNC Shares Fall As Profit Drops 60%

PNC Financial Services Group Inc.'s (PNC) profit declined 60% on charges related to government dividends, despite a boost from its National City acquisition.The stock fell 7.1% to $34.70.

EMC Earnings Down 43%; Investors Still Cheer

EMC Corp.'s (EMC) earnings slid 43% as information-technology customers continued to pare spending, but results topped analysts' expectations. The storage-product maker also gave its first forecast for 2009, projecting results above estimates. Shares rose 6.7% to $15.37.

Xerox Profit Drop Not As Bad As Feared

Xerox Corp. (XRX) reported a much less-than-expected 35% profit drop amid ongoing cutbacks from its business customers. While offering a muted third-quarter profit target, the copy-machine maker's stock gained 6.4% to $7.45.

New York Times Income Aided By Tax Gain

New York Times Co.'s (NYT) earnings climbed 84% on a tax benefit and lower operating costs, though advertising revenue fell 30% amid a prolonged industrywide ad slump and migration to the Internet. Even without the gain, the company posted a surprise profit. But shares fell 2.9% to $6.43.

Kimberly-Clark Earnings Down On Currency Changes

Kimberly-Clark Corp.'s (KMB) earnings fell 3.4% on currency-impacted sales declines while margins jumped amid higher prices as results topped analysts' expectations. Its stock rose 3.6% to $56.40.