3 Earnings Reports Affecting the Stock Market

1) Charles Schwab (NYSE:SCHW): The savings and loan holding company reported its results for the second quarter today. Net income for Schwab rose to $238 million (20 cents per share) vs. $205 million (17 cents per share) in the same quarter a year earlier. This marks a rise of 16.1% from the year earlier quarter, while net revenue was $1.19 billion last quarter. The company fell in line with the mean analyst estimate of 20 cents per share. Analysts were expecting revenue of $1.2 billion. SCHW stock is up .81% in after hours trades.

CEO Walt Bettinger commented, “Our valued clients are showing a resiliency in this environment that bodes well for the future. Although the economic recovery is progressing slower than hoped, clients remain solidly engaged with their investments, as cash holdings at Schwab have declined to pre-crisis levels. While trading activity is relatively soft, our diverse suite of investment products and services is propelling our ongoing growth, as clients increasingly opt to enroll in our advisory solutions. Despite a challenging environment, net new assets totaled $15.4billion for the second quarter, up 10% from the second quarter of 2010 after adjusting for a large clearing outflow last year, and total client assets reached $1.66trillion at quarter-end, up 22% from a year ago.”

Competitors to Watch: optionsXpress Hldgs., Inc. (NASDAQ:OXPS), TD Ameritrade Holding Corp. (NASDAQ:AMTD), E TRADE Financial Corp. (NASDAQ:ETFC), Interactive Brokers Group, Inc. (NASDAQ:IBKR), LPL Investment Hldgs. Inc. (NASDAQ:LPLA), TradeStation Group, Inc. (NASDAQ:TRAD), Investment Tech. Group (NYSE:ITG), Bank of America Corp. (NYSE:BAC), Citigroup (NYSE:C), JPMorgan (NYSE:JPM), Wells Fargo (NYSE:WFC), Penson Worldwide, Inc. (NASDAQ:PNSN), and Raymond James Financial, Inc. (NYSE:RJF).

2) Hallibuton Company (NYSE:HAL): The provider of oilfield technologies and services to upstream oil and gas customers worldwide reported its second quarter results today. Net income for HAL rose to $739 million (80 cents per share) vs. $480 million (53 cents per share) in the same quarter a year earlier. This marks a rise of 54% from the year earlier quarter. Revenues rose 35.3% to $5.93 billion from the year earlier quarter. Halliburton beat the mean analyst estimate of 72 cents per share. It beat the average revenue estimate of $5.69 billion. The company has now topped analyst estimates for the last four quarters. It beat the mark by 3 cents in the first quarter, by 5 cents in the fourth quarter of the last fiscal year, and by 2 cents in the third quarter of the last fiscal year. HAL stock closed up 0.08% today.

Competitors to Watch: Baker Hughes Incorporated (NYSE:BHI), Schlumberger Limited. (NYSE:SLB), Weatherford Intl. Ltd. (NYSE:WFT), Cameron Intl. Corp. (NYSE:CAM), Complete Production Services, Inc. (NYSE:CPX), TETRA Technologies, Inc. (NYSE:TTI), RPC, Inc. (NYSE:RES), Helix Energy Solutions Group Inc. (NYSE:HLX), Oceaneering International (NYSE:OII), and National-Oilwell Varco, Inc. (NYSE:NOV).

3) Gannett Co. Inc. (NYSE:GCI) reported its second quarter results today as well. Gannett is an international news and information company operating mainly in the realms of publishing, digital and broadcasting. Net income for the publisher fell to $151.5 million (62 cents per share). This is a decline of 22.5% from the year earlier quarter. Revenue also slid 2.2% to $1.33 billion from the year earlier quarter. The company reported adjusted net income of 58 cents per share. By that measure, it beat the mean estimate of 57 cents per share. Analysts were expecting revenue of $1.33 billion. GCI stock closed down 3.49%.

CEO Craig Dubow noted, “Our results for the quarter reflect the positive impact of our ongoing efforts to focus on our customers and to meet their business and marketing needs across our platforms. This resulted in higher digital revenues for the quarter in each of our business segments. Company-wide digital revenues were up 13 percent compared to last year. Broadcasting segment revenue was up slightly overcoming the significant political advertising spends of last year. Each of our business segments was solidly profitable, due in part to our commitment to align our expenses with revenue opportunities.”

Competitors to Watch: The E.W. Scripps Company (NYSE:SSP), The New York Times Company (NYSE:NYT), The McClatchy Company (NYSE:MNI), News Corporation (NASDAQ:NWSA), Media General, Inc. (NYSE:MEG), Lee Enterprises, Inc. (NYSE:LEE), Journal Communications, Inc. (NYSE:JRN), A. H. Belo Corporation (NYSE:AHC), and Meredith Corporation (NYSE:MDP).