Stocks to Watch: Microsoft, PetSmart (Update 1)

NEW YORK -- 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 Can Save Nokia, but Will It?

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:

If you liked this article you might like

How To Get a Promotion Using Legendary Former GE Head Jack Welch's Strategies

Microsoft Has Been Reborn Under CEO Satya Nadella

How to Make Your Life Successful Just Like Billionaire Warren Buffett

Hewlett Packard Enterprise Becomes the Latest Tech Titan to Slash Jobs