second quarter

Even as investors reel from the stock-market roller coaster this week, Wall Street is moving on, with plenty of news on the way. Next week will bring headlines about retail and gaming earnings, as well as quarterly reports from News Corp., SodaStream and some newly public Chinese firms.

The final numbers on U.S. GDP growth for the second quarter are in, and they're a bit better than the previous revision's reading. GDP inched 1.7% higher in the second quarter, up from the earlier 1.6% estimate.

IPOs increased last quarter to their best pace since the financial crisis began, and the pipeline is filled with highly anticipated new offerings. It's a sign that markets are more willing to finance long-term growth, and that investors are again willing to take risks for higher returns.

The U.S. economy downshifted in the second quarter to a tepid 2.4% growth rate. Offsetting that news was the first-quarter GDP growth, which was revised upward to 3.7% from the previously estimated 2.7%.

AstraZeneca's core earnings per share rose 9% in the second quarter, helped by a strong performance in emerging markets. While the British pharmaceutical warned the rest of the year will be "challenging," it also raised its 2010 earnings forecast for the third time this year.

On Thursday, Sanofi-Aventis reported its second-quarter net profit rose 7.6% to 2.48 billion euros, beating expectations. But the French drugmaker warned that earnings may fall for the full year, and it remained silent about its rumored plan to make a friendly bid for Genzyme.

WellPoint's second-quarter net income rose 4% due to favorable reserve development, which offset a decline in commercial enrollment caused by the tough economy. The health insurer said it earned $722.4 million in the second quarter, up from $693.5 million in the year-ago period.

Comcast reported second-quarter results that edged past Wall Street's expectations, in part on the strength of the cable operator's strong programming and cable results, the company announced Wednesday.

Increased consumer spending helped boost second quarter earnings for credit card giant American Express Thursday, which reported a $1 billion profit, nearly tripling the $337 million it reported for the a year ago quarter.

Morgan Stanley is expected to swing back to profitability in the second quarter when it releases results ahead of Wednesday's opening bell, but like other Wall Street giants, its revenues from trading likely swooned in spring and early summer.