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. The Five Dumbest Things on Wall Street This Week: June 15
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. Shares of IBM dropped 52 cents, or 0.26%, in premarket trading Monday to $198.58. 8 Stocks Benefiting From North America's Energy Boom
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, on average, 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. -- Written by Joseph Woelfel >To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: firstname.lastname@example.org.