NEW YORK ( TheStreet) -- Earnings season continues Wednesday with media giant Time Warner ( TWX) and wireless shop Sprint Nextel ( S) front and center.

Time Warner was in the news Tuesday when it announced in a regulatory filing that it had bought back Google's ( GOOG) 5% stake in AOL for $283 million. Analysts, on average, expect Time Warner to post earnings of 37 cents a share on revenue of $6.97 billion, according to Thomson Reuters.

Sprint also made headlines ahead of its earnings report when it announced Tuesday it would buy the remaining stake in Virgin Mobile ( VM) for a deal with a total value of $483 million. Wall Street is anticipating that Sprint will post a loss of 2 cents a share on $8.12 billion in revenue.

Wednesday morning's earnings slate also will include reports from ConocoPhillips ( COP), General Dynamics ( GD), Martha Stewart ( MSO) and WellPoint ( WLP).

Visa ( V) will headline the earnings reports after Wednesday's close. Late Monday, Visa said that John (Hans) Morris, will step down from this position of president and that it will consolidate global sales, client service, product development and innovation functions under the leadership of Chief Operating Officer John Partridge.

Additionally, company Chairman and CEO Joe Saunders said that Visa will "continue to meet or exceed all our current financial guidance." Analysts expect the company to report earnings of 64 cents a share on revenue of $1.63 billion, according to Thomson Reuters.

In addition to Visa, Tesoro ( TSO), Hartford Financial ( HIG), Flextronics ( FLEX) and Express Scripts ( ESRX) will report late Wednesday.

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