Bear Stearns continues confounding earnings season

Bear Stearn's better-than-expected earnings underscores the tricky job that analysts have figuring out this industry. The Street was generally bearish on second-quarter results. This was supposed to be the quarter that reduced trading volume and sluggish markets finally took their toll. But Bear and Lehman Brothers have bested the estimates. To a certain extent, that raises the pressure on other banks that will soon report, starting with Goldman Sachs.

> Here's a recap of Bear Stearns earnings.