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

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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