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Just when investors thought they were over the worst of the credit crisis, Bank of America (BAC) and Citigroup, Inc. (C) rear their ugly heads. Investors pounded both stocks last week as investors became more pessimistic about the struggling financial sector. Credit worries will likely continue to take center stage this week despite an influx of earnings reports.

US Bancorp (USB) is one of many banks reporting quarterly results this week. Also on tap are a number of technology heavy-hitters including Apple Inc. (AAPL), IBM (IBM), Microsoft Corp. (MSFT) and Google Inc. (GOOG).

Microsoft is slated to report its fiscal second-quarter results after the bell Thursday, and analysts polled by Thomson Financial are expecting the software giant to report a profit of $0.50 per share, flat from a year ago, on revenue of $17.1 billion. Microsoft is usually not a stock that benefits longs. In fact, it generally favors cutting back its after-hours gains in the following day's regular session and adding to its downside evening moves. The stock has recorded 11 earnings-driven after-hours gains in 19 quarters MidnightTrader.com has tracked. In eight of those upside evening moves, the stock has narrowed or reversed course the following day. Microsoft has declined eight times in the after-hours following earnings, and in five of those quarters it has added to its downside move the following day.

Google is also expected to report earnings after the close on Thursday. The owner of the world's most popular Internet search engine is expected to report earnings of $4.96 per share, up from $4.43 per share a year ago, on revenue of $4.1 billion. Google shares lean toward a narrowing pattern between the sessions in its long-term performance, cutting back its post-earnings evening share direction in next-day trade in ten of the last 17 quarterly reports. Last quarter, the stock rose 10.9% in after-hours trading after the company reported results that beat the Street. The stock cut back its gains in the following regular session, ending up 5.8%.