1.   Although many countries continue to push for economic change, and their companies are reporting big earnings gains, many stock prices do not yet reflect such improvements.

2.   Analysts said semiconductor, software and computer makers reported the biggest earnings gains in the second quarter.

3.   Analysts attributed the earnings gain to an increase in the number of customers using its discount direct marketing services and revenue increases in its software business.

4.   BANK STOCKS FALL AS EARNINGS RISE Nationsbank, First Chicago and PNC Bank reported solid earnings gains.

5.   But analysts worry that earnings gains will slow in the quarters ahead.

6.   But the indications are that the string of earnings gains will be broken come this fall.

7.   Chemical, Banc One, Wells Fargo and Mellon report earnings gains.

8.   Chrysler has posted better earnings gains in recent quarters than General Motor Corp. or Ford Motor Co., thanks to its heavy commitment to minivans and other light trucks.

9.   Citicorp, by contrast, reported earnings gains in every quarter from the year-earlier period.

10.   Despite a long string of earnings gains that has made it a stock market favorite, Gillette Co. has hit a rough patch.