Stocks To Watch - July 16 (GS, SCHW)

(RTTNews) - Goldman Sachs Group Inc. (GS) reported better-than-expected Q2 results.

The company's Q2 net income applicable to common shareholders declined to $2.20 billion or $5.81 per share from the prior year's $2.35 billion or $5.98 per share.

Analysts polled by Thomson Reuters expected earnings of $4.89 per share for the quarter. Analysts' estimates typically exclude certain special items.

Net revenues for the second quarter decreased 2% to $9.46 billion from $9.64 billion generated last year, reflecting lower revenues in Investment Management and Investment Banking, partially offset by higher revenues in Investing & Lending. Analysts expected revenue of $8.83 billion for the quarter.

Goldman Sachs received a non-objection from the Federal Reserve Board related to its CCAR 2019 capital plan, which includes up to $7.00 billion in common share repurchases and $1.80 billion in total common stock dividends.

The company increased its quarterly dividend to $1.25 per share from $0.85 per share. The dividend will be paid on September 27, 2019 to common shareholders of record on August 30, 2019.

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The Charles Schwab Corp. (SCHW) reported upbeat Q2 results.

Net income for the second quarter of 2019 was $937 million, up 8% from $866 million for the second quarter of 2018. On a per share basis, earnings rose 10% to $0.66 from $0.60 earned a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.65 per share for the quarter. Analysts' estimates typically exclude certain special items.

Net revenues increased 8% to $2.68 billion from the previous year's revenue of $2.49 billion. Fourteen Wall Street analysts had a consensus revenue estimate of $2.67 billion for the quarter.