5 Stocks Hitting Our Radar: Chevron Raises Dividend, Visa Falls 2%, Novellus and Akamai Climb Higher
Shares of Chevron Corp (NYSE:CVX) are edging slighting higher in late trading. The company announced a 3.8% increase in its quarterly dividend. CEO John Watson said, “Dividend increases are a very important way to share Chevron’s success with its shareholders.” Shares of Exxon Mobil (NYSE:XOM) also ticked higher after the close.
Visa (NYSE:V) is falling more than 2% after reporting a fourth quarter profit of $880 million ($1.27 per share), compared to $774 million ($1.06 per share) last year. Visa reported a 12% rise in revenue to $2.38 billion, but analysts were expecting $2.39 billion. Mastercard (NYSE:MA) is also trading lower, while American Express (NYSE:AXP) is up .20%.
Investing Insights: Visa Inc. Earnings Cheat Sheet: Fifth Consecutive Quarter of Double-Digit Growth.
Symantec Corp (NASDAQ:SYMC) reported a fiscal second quarter profit of $182 million (24 cents per share), compared to $136 million (17 cents per share) last year. Shares are down more than 3% in extended hours.
Despite a 33% fall in earnings, shares of Novellus Systems (NASDAQ:NVLS) are popping 2% in late hours. Net income for the semiconductor equipment and materials company fell to $51.1 million (73 cents per share), compared to $76.3 million last year. The company said, “The current global market volatility has affected capital intensive business investment but we are optimistic that the underlying demand for technology products will enable us to profitably ride through this period of uncertainty.”
Akamai Technologies, Inc. (NASDAQ:AKAM) is surging nearly 13% after reporting a 6.5% gain in net income for the third quarter. The company also announced that president and board member David Kenny has resigned, and CEO Paul Segan will assume the role.
Investing Insights: Akamai Technologies Inc. Earnings Cheat Sheet: Beats Forecasts.