MasterCard’s profit surged in its fourth quarter. The credit card company saw earnings rise by about 30 percent on increased consumer spending, meaning more swipes. MasterCard also bought back about 2 million shares worth of stock during the quarter. The stock was up fractionally to $82.03.
Xerox posted earnings that topped forecasts, but its revenue came in slightly below, because sales of its printers fell. The company also hiked its quarterly dividend to seven cents a share, the yield on that dividend is about 1.9-percent. But investors weren’t too happy with the company’s decreased profit outlook, shares were off almost three percent to $13.17.
Eli Lilly also out with earnings that beat and revenue that missed slightly. The drug maker was weighed down by the impact of patent expirations on some of its treatments and the negative impact of currency moves. Shares fell slightly to $72.
The West Coast port slowdown we’ve been telling you about is weighing on Tyson Foods. The company said the issues are starting to back up meat shipments and could affect livestock producers if its not resolved soon. Also, it posted better than expected first quarter earnings. Shares were down almost three percent $39.04.
Altria group, the maker of Marlboros saw its profit more than double on higher cigarette prices and lower costs for paying down debt. Those higher prices offset a decline in cigarette sales and helped the company post better-than-expected revenue. The stock fell more than two percent to $53.10.
And Costco announced a special one-time dividend. The wholesale club’s payout is $5 a share, which will cost the retailer more than $2 billion. The yield on the payout is about 1-percent and it will be paid at the end of February. Shares rose more than 1.5 percent to $142.99.