New home sales
jumped in March
U.S. sales of new homes rebounded in March to the second-fastest sales pace in three years, adding to evidence of a sustained housing recovery at the start of the spring buying season. The Commerce Department said sales of new homes increased 1.5 percent in March to a seasonally adjusted annual rate of 417,000 units. Sales, however, are still below the 700,000 pace considered healthy by most economists.
The DuPont Co. said its net income more than doubled in the first quarter on strong results by its agricultural unit. The company reported net income of $3.35 billion, or $3.58 per share, for the quarter ended March 31, up from $1.49 billion, or $1.58 per share, a year ago. Revenue increased 2 percent to $10.4 billion.
Full planes boost
US Airways profit
Full planes were good to US Airways in its first quarter The nation's fifth-largest airline earned $44 million, or 26 cents per share, as it carried more passengers and collected more from them. Revenue rose 3.5 percent to $3.38 billion.
rise in 1Q profit
Discover Financial Services said its first-quarter net income rose 2 percent, boosted by loan growth. The company posted a profit of $659 million, or $1.33 per share, up from $644 million, or $1.21 per share, in the same quarter last year. Loans increased 7 percent to $60.4 billion. Credit card loans increased 5 percent to $48.7 billion.
FedEx gets new
Post Office deal
FedEx said it signed a seven-year, $10.5 billion deal to keep hauling air mail for th e U.S. Postal Service. The deal calls for FedEx to carry Express Mail and Priority Mail between U.S. airports. The new deal starts in October, replacing a contract set to expire in September.
boost to AT&T
Americans' infatuation with smartphones and high-speed Internet helped AT&T post solid profits in over its first quarter this year. The company said its net income grew 5.2 percent to $3.7 billion, or 67 cents a share, up from $3.6 billion in the same quarter a year earlier. The company attributed the increase to especially strong sales of smartphones and major growth in its paid-TV and high-speed Internet service, U-verse.