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.