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Bed Bath & Beyond Inc. (BBBY) reported better-than-expected fourth-quarter 2010 results on the heels of double-digit growth in sales and higher margins. Earnings rose 30.2% to $1.12 per share from the year-ago quarter earnings of 86 cents a share, handily surpassing its earnings guidance range of 91 cents to 95 cents per share. Bed Bath & Beyond also outpaced the Zacks Consensus Estimate of 97 cents a share. The company has reported eight consecutive quarters of improving trends.

For full fiscal 2010, earnings rose 33.5% to $3.07 per share from the prior fiscal earnings of $2.30 a share, easily outshining its earnings guidance range of $2.86 to $2.90 per share. Bed Bath & Beyond also outpaced the Zacks Consensus Estimate of $2.92 a share.

Quarterly Details

Bed Bath & Beyonds top line jumped 11.6% to $2,505.0 million from $2,244.0 million in the year-ago quarter. The company has been witnessing increasing trends in comparable-store sales. After falling 0.6% in the second quarter of fiscal 2009, comparable-store sales increased in the subsequent quarters.

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Sprint Nextel (S), the third-largest U.S. wireless carrier, reported second-quarter 2010 adjusted net loss per share of 15 cents, which surpassed the Zacks Consensus Estimate of a net loss of 19 cents. Adjusted earnings excluded a one-time tax related to non-cash charge of $302 million (10 cents per share). Sprint reported its second-quarter results before the market open on July 28.

On a GAAP basis, Sprint posted a net loss of $760 million (25 cents per share), 98% beyond the net loss of $384 million (13 cents) in the year-ago quarter.

Consolidated operating revenue dipped 1% year over year to $8.025 billion due to lower contributions from its wireline and post-paid wireless businesses, which were partially offset by higher revenues from prepaid service and equipment. However, the revenues were modestly higher than the Zacks Consensus Estimate of $8.018 billion.

Adjusted OIBDA (operating income/loss before depreciation, amortization, asset impairments and abandonments) fell 15% year over year to $1.5 billion.

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Bank of America Corporation’s (BAC) second quarter 2010 earnings came in at 27 cents per share, 3 cents ahead of the Zacks Consensus Estimate of 24 cents. However, this compares unfavorably with the earnings of 33 cents in the prior-year quarter.

Lower credit costs and sale of non-core assets were primarily responsible for the better-than-expected results. However, pressure on trading and mortgage banking income was the primary offsetting factor. BofA’s trading business includes the Merrill Lynch operation. An increased charge related to the U.K. payroll tax was also among the negatives.

Net income came in at $3.1 billion, down 3% from $3.2 billion in the year-ago quarter.  However, after preferred dividends, net income increased 15% year over year to $2.8 billion.

Behind the Headlines

Fully taxable-equivalent revenues net of interest expense were $29.5 billion, down 11% from $33.1 billion in the prior-year quarter, reflecting the absence of year-earlier gains from the sale of BofA’s shares in China Construction Bank and the contribution of a merchant services business.

Net interest income on a fully taxable-equivalent basis was $13.2 billion, up 11% from $11.9 billion in the year-ago quarter. The in

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