Citigroup, (C: chart), added that this estimate included the effect of a non-cash accounting adjustments for stock option costs. The results incorporated a $648 million charge to account for options awards under new accounting rules. The new accounting rules require companies to count stock-based compensation as expenses.

Wachovia Corp, (WB: chart), commercial and retail banking provider, reported that its Q1 net income advanced to $1.09 a share, up from $1.01 a share a year earlier. If not for merger costs, the company said it earned $1.12 a share. The $1.12 a share incorporated $98 million of costs for a new accounting method for options. The company missed analyst estimate of $1.12 which included the cost for the new options accounting rule.

Knight Ridder, (KRI: chart), media company, reported Q1 earnings of 42 cents a share, down from a profit 79 cents a share year-ago despite revenue growth, missing analyst estimate of 59 cents a share. Q1 results include 6 cents a share in expenses related to the company''s review of its strategic options, and 5 cents a share in costs related to equity-based compensation. The company added earnings in Q1 were hurt by an increase in interest expense of roughly 74% year-over-year due to increased borrowing and higher rates.

Eaton Corp, (ETN: chart), diversified industrial manufacturer, reported that its Q1 net income advanced to $1.36 a share, up from $1.19 a share a year ago. The company announced that operating income excluding charges grew to $1.40 a share, up from $1.23 a share a year ago. The company topped analysts’ estimate of $1.32 a share. Revenue advanced 14%.

SunTrust Banks Inc, (STI: chart), investment services provider, reported Q1 net income of $1.46 a share, up from $1.36 a share in the same period last year on 9% revenue growth, beating analyst forecasts for earning of $1.43 a share. Loan growth was 13%.

Texas Regional Bancshares Inc, (TRBS: chart), financial services provider, reported Q1 income of 42 cents a share, down a penny from 43 cents a share in the year-earlier period, beating analysts’ views for earnings of 41 cents a share. Provision for loan losses of about $4.9 million for Q1 declined 9.9% from a year earlier.

Regions Financial Corp, (FR: chart), banking and financial-services company, reported Q1 net income advanced 22% to 64 cents a share, up from 51 cents in the year-ago period. The year-ago figure takes into account 6 cents of merger-related and other charges. The company beat analysts estimate of 62 cents a share. Net interest income grew 9%. The net interest margin grew 0.34 percentage point to 4.18%.

Invitrogen Corp, (IVGN: chart), biotechnology company, announced that it expects Q1 pro forma earnings to be a bit higher than previously expected on an improved product mix, lower royalty expenses, and a lower share count. The company expects sales of about $309 million for Q1 - approximately 3% lower than anticipated on weak performances for its U.S. Bioproduction and Japan businesses. Analysts expect the company to post a profit of 77 cents a share in Q1 on revenue of $319.9 million.

W.W. Grainger Inc, (GWW: chart), maker of building maintenance supplies, reported Q1 net income of 93 cents a share, up from 79 cents a share in the year-ago period, beating analysts’ forecasts of 88 cents a share. The company added that revenue in Q1 advanced 6% but stock-based compensation charges reduced its earnings by 3 cents a share.

HCA Inc, (HCA: chart), hospital company, said it expects Q1 earnings in a range of 89 cents a share to 93 cents a share, down from the 95 cents a share it posted in the year-earlier period. Q1 of 2006 results take into account 11 cents a share in gains on sales of investments, and 2 cents a share in compensation costs. The company anticipates to post revenue of $6.42 billion for Q1. Same-facility revenues rose 5%, and same-facility revenue per equivalent admission rose 5.1% in Q1 of 2006. Analysts’ views are for the company to to post a profit of 89 cents a share on revenue of $6.45 billion.

J.B. Hunt Transport Services Inc., (JBHT: chart), transportation logistics provider, reported Q1 net income of 31 cents a share, up from 29 cents a share in the year-ago period on 10% revenue growth, matching analysts’ estimates.

Corus Bankshares Inc, (CORS: chart), provider consumer and corporate banking products, reported Q1 net income of $1.50 a share, up from 97 cents earned in the same period of 2005. The company’s quarterly net operating revenue totaled $88 million from $55.7 million in the year-ago period. Analysts had been expecting earnings of $1.35 a share on revenue of $80 million. Total assets came to $9.2 billion, up 65% from a year earlier.