NEW YORK -- Microsoft (MSFT) announced plans Tuesday for a 15% dividend hike.
The software giant said its board approved a quarterly dividend of 23 cents a share, up from its current payout of 20 cents. The new dividend implies a forward annual yield of 2.95% based on the stock's closing price of $31.17 on Tuesday.
Goldman Sachs (GS) said David Viniar plans to retire as chief financial officer in January 2013. Viniar, who will join Goldman's board, is to be succeeded by Harvey Schwartz, the current co-head of the company's security division. Viniar has spent more than three decades at the investment bank. Goldman Sachs Replaces 'Brains' With Trader for CFO
Apple (AAPL) shares crested above $700 in regular-session trading for the first time on Tuesday, following through on the strength seen in Monday's after-hours action. Shares of the iPod and iPad maker finished at $701.91, up 0.3%.
General Mills (GIS), the maker of Cheerios, is expected by analysts to report fiscal first-quarter earnings of 62 cents a share on revenue of $4.08 billion.
Bed, Bath & Beyond (BBBY) is expected Wednesday to report its fiscal second-quarter results after the closing bell and analysts expect a profit of $1.02 a share in the August-ended period on revenue of $2.54 billion.
Other companies reporting their results Wednesday include Adobe Systems (ADBE), AutoZone (AZO), Cracker Barrel (CBRL), Steelcase (SCS), and Sycamore Networks (SCMR).
Blackstone Group (BX)is nearing an agreement to buy home security provider Vivint, according to three people familiar with the matter, Reuters reported. The deal is expected to value Vivint at as much as $2 billion, according to Reuters.
-- Written by Joseph Woelfel
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