Charles Schwab's earnings of 4 cents per share was a penny more than the average estimate of analysts. But some discern the new beginning that the company, and its shareholders, have been hoping for so long. Trading revenue was weak again. That was expected. But money management and other administration fees rose 7 percent. And the company's expenses, excluding interest costs, declined by 9 percent. The company has been laying off workers and closing branches. It closed June with 13,600 employees. That's 2,700 fewer employees than June last year. Analysts expect more.   

> Here's an Associated Press recap.

ALSO: Other top firms have reported as well. Merrill Lynch beat estimates handily this morning on surprisingly strong gains across the board. Revenue rose 20 percent. Wachovia also beat estimates.