- Reuters

The bank reported a second-quarter loss of 38 cents per share on Thursday, beating expectations. Analysts on average expected a loss of 62 cents per share, according to Thomson Reuters I/B/E/S.

• Express Scripts to buy Medco for $29 billion- NY Times
• AT&T revenue, net subscribers beat expectations- Reuters
• Senators' deficit plan calls for tradeoff in taxes- AP
• PepsiCo's 2Q earns up, but plans to boost prices- AP
• Banks pay back TARP funds by ... borrowing from Treasury- Daniel Gross, Y! Finance
• Entire Apple stores being faked in China- AP
• Wall St. makes fallback plans for debt crisis- NY Times
• Microsoft earnings: What to watch- Breakout
• Tax breaks for capital gains threatened in bipartisan deficit-cut proposal- Bloomberg