Chevron's (CVX -1.5%) move to boost 2012 capital spending by 26% to $32.7B came in higher than...

|About: Chevron Corporation (CVX)|By:, SA News Editor

Chevron's (CVX -1.5%) move to boost 2012 capital spending by 26% to $32.7B came in higher than expected, Barclays Capital tells clients. "While management had previously indicated 2012 spending would be above 2011, we think the shares may nevertheless come under short-term pressure due to the significant increase in expected cash outlays."