Apple (AAPL) and Exxon (XOM) Highlight Wednesday's Market Events
Stocks make push forward as Coca-Cola (KO) and Seagate Technology (STX) among those hitting 52-week highs. The Federal Reserve has affirmed they see steady growth continuing in the future, mandating they will stick with the current low-rate policy they've been using in an attempt to spur the economy.
In other corporate news, Apple (APPL) reported a whopping 91% jump in profit. The rise was met with overwhelming approval by investors as the stock jumped nearly 9%. Also, Exxon Mobil (XOM), who has consistently risen their dividend by an average of 6% per year over the last 3 decades, has outdone themselves by boosting it by 21%.
Word on the Street
- Federal Reserve sees steady growth ahead, decides to stick with low rate policy.
- Apple (AAPL) reports 91% increase in profit, sending shares up more than 8%.
- Oil giant Exxon Mobil (XOM) raises its dividend 21%, a higher bump than normal compared to the last 30 years.
- Caterpillar (CAT) reports rise in net income for 1Q.
- Wal-Mart (WMT) executives being sued over bribery probe.
- Despite the stricter data plans enacted by Verizon (VZ) and AT&T (T), Sprint (S) says they will keep the unlimited plan for the next Apple iPhone.