NEW YORK—Investors are likely to watch shares of Visa Inc. on Tuesday, after the world's largest credit and debit card processor posted a 28 percent rise in quarterly profit on strong credit card usage.
However, shares declined in aftermarket trading on Monday, as investors seemed have expected stronger results.
Meanwhile, General Motors Corp. said about 3,500 workers will be laid off amid sluggish sales, rising gasoline prices and a U.S. downturn.
GM said the cuts will affect pickup factories in Michigan, Ontario, and Wisconsin.
Also, Plum Creek Timber Co., a real estate investment trust that owns and manages timberlands, forecast second-quarter profit below Wall Street expectations.
Plum Creek also posted a lower first-quarter profit on poor demand for lumber, as the housing downturn continues.
