The global downturn finally caught up with telecom gear maker Ericsson on Thursday as it posted falling sales and lower-than-expected quarterly core earnings.

Oil fell from a one-year high Thursday as a rise in new U.S. jobless claims sent investors seeking safer havens.

What follows is a roundup of corporate earnings reports for Thursday, Oct. 22.

Mobile phone maker Sony Ericsson posted a smaller than expected third-quarter pretax loss on Friday due to cost savings and improving margins, adding it had strengthened its capital position.

Stocks finished lower Wednesday despite a late comeback attempt as the weight of disappointing economic news and a weak Treasury auction dragged down major indexes.

A small but growing number of investors are using their money back parties in a lawsuit, helping companies avoid some of the risks and costs of litigation in exchange for part of any money paid out when the case is settled or resolved by a court.