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DAILY EARNINGS

Charles Schwab, Hasbro Net Soar; Bank of America Net Plunges


Author: Mukesh Buch
ticker.com
Last Update: 3:17 AM ET July 18 2016

12:00 PM New York Bank of America second-quarter net plunged 19% to $3.9 billion. Charles Schwab second-quarter net soared 28% to $452 million. Hasbro second-quarter net surged 25% to $52 million. J B Hunt Transport second-quarter net rose 2% to $105 million. Lennox Intl second-quarter net jumped 36% to $111 million.

Tollbooth Index increased 53.51 or 0.5% to 10,905.06.

Earnings Review

Bank of America Corp (BAC), the financial services provider said revenues in the second-quarter ending in June declined 7.1% from a year ago to $20.4 billion.

Net income in the quarter plunged 18.8% to $3.87 billion or 36 cents per diluted share compared to $4.80 billion or 43 cents per share from the same quarter last year.

The lender said trading revenue in the quarter soared 12% to $3.7 billion and bond, currency and commodity trading revenue surged 22% to $2.62 billion.

The bank added its consumer banking division loans jumped to $14.9 billion while deposits advanced $45.3 billion and total credit and debit card spending increased 4%.

In the quarter, total client balances in global wealth and investment management segment grew $2.4 trillion and loans increased $9.1 billion while deposits soared $13.4 billion.

Charles Schwab Corp (SCHW), the brokerage and investment bank said revenues in the second-quarter ending in June jumped 17% from a year ago to $1.83 billion.

Net income in the quarter soared 28% to $452 million or 30 cents per diluted share compared to $353 million or 25 cents per share from the same quarter last year.

Cal-Maine Foods Inc (CALM), the shell eggs producer stated net sales in the fourth-quarter ending on May 28 plummeted 24.8% from a year ago to $303 million.

Net in the quarter swung to a loss of $0.4 million or 1 cent per diluted share compared to net profit of $46.1 million or 95 cents per share from the same quarter last year.

Hasbro, Inc (HAS), the toy and game products maker said revenues in the second-quarter ending on June 26 jumped 10% from a year ago to $878.9 million.

Net income in the quarter surged 25% to $52.1 million or 41 cents per diluted share compared to $41.8 million or 33 cents per share from the same quarter last year.

J B Hunt Transport Services Inc (JBHT), the trucking services provider stated revenues in the second-quarter ending in June increased 5% from a year ago to $1.62 billion.

Net income in the quarter rose 1.9% to $105 million or 92 cents per diluted share compared to $103 million or 88 cents per share from the same quarter last year.

Lennox International Inc (LII), the climate control solutions provider said revenues in the second-quarter ending in June rose 3% from a year ago to $1.02 billion.

Net income in the quarter jumped 36.3% to $110.7 million or $2.51 per diluted share compared to $81.2 million or $1.78 per share from the same quarter last year.
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Sources: Data collected by 123jump.com and Ticker.com from company press releases, filings and corporate websites. Market data: BATS Exchange. Inc