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Published on Oct 28, 2016
Stocks
climbed after third-quarter growth in the U.S. economy picked up speed.
Healthy growth kept the Fed's December rate hike timeline intact.
Chevron faced a tough quarter as oil prices remained low, reporting a
35% drop in net income and a 12% decline in revenue. Chevron also upped
its quarterly dividend, its 29th straight increase. Hershey climbed as
sales in North America, its major topline contributor, pushed profit
higher. However, the chocolate maker anticipates full-year sales growth
of just 1%, less than one-third of what analysts anticipated. Xerox
reported a disappointing drop in sales as revenue in its legacy hardware
division tumbled 9%. The company also settled a lawsuit that had
prevented it from splitting into two by year's end.
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