Stocks to watch: Microsoft, PetSmart
The software giant could unveil a tablet computer, while the pet supply retailer is raising its dividend.
Microsoft (MSFT) has a media event scheduled for Monday at which the software giant could unveil a tablet computer developed in conjunction with Barnes & Noble (BKS). According to TechCrunch, Microsoft has a tablet/e-reader on tap and it will be entertainment-driven.
Microsoft and Barnes & Noble announced a strategic partnership in late April with Microsoft investing $300 million in the venture. Shares of Microsoft ticked down 2 cents, or 0.07%, in premarket trading Monday to $30. (Microsoft owns and publishes Top Stocks, an MSN Money site.)
PetSmart (PETM) announced Monday it is raising its quarterly dividend to 16.5 cents a share from 14 cents, an increase of 18%. The company also said Monday that it will repurchase $525 million of stock. The program will begin on July 30.
Chevron (CVX) sold an equity stake in its Wheatstone project in Australia and agreed to supply additional liquefied natural gas to Tokyo Electric Power. Chevron's $29 billion Wheatstone gas-export project is expected to begin exporting gas in 2016.
IBM's (IBM) Sequoia is the world's fastest supercomputer, topping the K Computer from Fujitsu, which fell to second place. IBM's Sequoia carried out 16 quadrillion calculations a second, or petaflops, according to a benchmark used to compile a semiannual list of the world's 500 most powerful computers, The Wall Street Journal noted.
IHS (IHS), a provider of critical information and insight products, is expected by analysts Monday to post quarterly earnings of 94 cents a share on revenue of $382.7 million.
Steel Dynamics (STLD) said Friday it anticipates second-quarter earnings of between 15 cents a share and 20 cents a share. It earned 20 cents a share, including a refinancing charge of 3 cents, in the first quarter, and 43 cents a share in the year-earlier second-quarter. Analysts forecast second-quarter earnings of 24 cents a share.
Shoe Carnival (SCVL) said Friday it initiated a quarterly dividend. A dividend of 5 cents a share will be paid on July 16.
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In the never-ending contest for sales, American carmakers are pulling ahead.
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