IBM & MetLife
IBM and MetLife both announced increases to their quarterly dividends. IBM’s is up 18-percent to $1.30 a share, that brings the yield to around three percent. MetLife hiked its dividend to about 38 cents a share. The yield on its payout is also about three percent. Shares of IBM rose almost two percent to $173.92. Metlife was one percent higher to close at $50.86.
Ford disappointed investors with results that missed estimates on the top and bottom lines. The car maker sold fewer vehicles in North America as it’s working to increase production of its new F-150 truck. It maintained its full-year profit forecast. Still, shares were off one percent to $16.06.
Currency fluctuations weighed on Corning’s bottom line. The company, which is a glass supplier for Apple, managed to post earnings that topped estimates, but sales missed. It was helped by bigger phone screens, since it sells its glass by the square foot. Shares fell today by more than one percent to $22.07.
A tough day for shares of Coach. The clothing and accessories maker saw its profit drop more that 50 percent. This as the company was hurt by a stronger dollar and increased competition from other retailers like Michael Kors and Kate Spade. The stock tumbled six percent to $39.65.
Whirlpool also fell victim to the strong greenback. The maker of appliances lowered its profit and sales forecast for 2015. It also said Latin American sales would weigh on its results, mostly because of Brazil’s stagnating economy. Earnings for this quarter also missed estimates. Shares slipped seven percent to $183.70.