Stocks Trending on Earnings: Bank of America, Charles Schwab, Cal-Maine Foods and Others

Major market indices opened in the positive territory as investors monitor the latest financial results that companies have started releasing.

Among the notable companies in the spotlight this morning after announcing earnings are Bank of America Corp (NYSE:BAC), Hasbro, Inc. (NASDAQ:HAS), Charles Schwab Corp (NYSE:SCHW), Cal-Maine Foods Inc (NASDAQ:CALM), and J B Hunt Transport Services Inc (NASDAQ:JBHT). Let’s find out the details of these financial results and see what hedge funds in our database think about the companies in the spotlight.

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Bank of America Beats Estimates

Bank of America Corp (NYSE:BAC)’s stock is in the green today as the company posted EPS of $0.36 for the second quarter, better than the estimated $0.33. Revenue in the quarter came in at $20.6 billion, versus the consensus estimate of $20.41 billion. Bank of America’s CEO Brian Moynihan said in a statement that the company’s “responsible” growth strategy resulted in a higher client activity in the quarter. Mr. Moynihan added that Bank of America moved closer to its long-term performance targets in the quarter. As of the end of the first quarter, 110 funds tracked by us owned shares of Bank of America Corp (NYSE:BAC).

Hasbro Revenue Jumps 10%

Hasbro, Inc. (NASDAQ:HAS) has reported second quarter earnings of $0.41 per share, better than analysts’ estimates of $0.39. Revenue for the quarter came in at $878.9 million, slightly above the consensus estimate of $858.97 million and 10% above the last year’s figure of $797.7 million. Hasbro’s CEO Brian Goldner said in a statement that the company’s focus on brand building, digital gaming and consumer products is driving strong demand for its products globally. He added that the company is committed to work on initiatives like Hasbro Franchise Brands and Partner Brands; new products such as FURBY CONNECT and SPEAK OUT; and feature films project Rogue One: A Star Wars Story and DreamWorks’ Trolls in the second half of the year. A total of 30 investors from our database were bullish on Hasbro, Inc. (NASDAQ:HAS) as of the end of the first quarter, up from 25 funds a quarter earlier.

On the next page, we will talk about the earnings of Charles Schwab, Cal-Mine Foods and JB Hunt Transport.

Charles Schwab Posts Better-Than-Expected Results

Charles Schwab Corp (NYSE:SCHW)’s opened higher but has declined since the opening bell after the company posted second quarter earnings of $452 million, or $0.30 per share, up from $353 million same quarter last year, and in line with the estimates. Revenue of $1.83 billion beat the consensus of $1.80 billion. Trading revenue in the quarter declined to $201 million from $203 million, missing expectations of $203.2 million. The San Francisco-based brokerage and banking company’s CFO said in a statement that the company’s year-to-date results have outperformed the baseline scenario prepared at the start of the year. He said that the company plans to continue its strategy of flexibility to incorporate market volatility. Among the funds tracked by us, 43 funds were long Charles Schwab Corp (NYSE:SCHW) at the end of March.

Cal-Maine Foods Narrows Losses Despite Hostile Market Conditions

Cal-Maine Foods Inc (NASDAQ:CALM) posted a loss of $0.01 a share, beating the analysts’ consensus of $0.19. Revenue for the quarter came in at $303 million versus the consensus estimate of $304.29 million. Cal-Maine Foods CEO Dolph Baker said in a statement that the company had another “record year” in fiscal 2016 as its sales worth $1,908.7 million surpassed the last year’s record by about 21%. Mr. Baker added that Cal-Mine achieved these impressive results during “unprecedented market conditions” in the egg industry. Chuck Royce’s Royce & Associates is one of 29 investors followed by Insider Monkey that held stakes in Cal-Maine Foods Inc (NASDAQ:CALM) at the end of the first quarter.

J B Hunt Transport Misses Estimates

Shares of J B Hunt Transport Services Inc (NASDAQ:JBHT) have declined by over 2% after the company missed the bottom-line estimates in its second-quarter financial report. The Arkansas-based trucking company earned $0.92 a share, missing expected EPS of $0.97. However, revenue of $1.62 billion was in line with the estimates. J B Hunt now expects a 7% increase in its 2016 revenue, and a 5% increase in operating income. As of the end of March, 27 funds from our database held shares of J B Hunt Transport Services Inc (NASDAQ:JBHT). Among them, Ken Griffin’s Citadel Investment Group owns 474,683 shares of the company.

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