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Stocks open higher...New home sales rise...NTSB looks into Boeing batteries
Tuesday - 4/23/2013, 11:29am EDT
NEW YORK (AP) -- Stocks have opened higher on Wall Street after strong earnings from a range of U.S. companies. Coach, Travelers and Lockheed Martin were among those reporting better-than-expected results. Apple posts earnings after the market closes.
WASHINGTON (AP) -- The Commerce Department says sales of new homes rebounded in March to the second-fastest sales pace in three years, rising 1.5 percent to a seasonally adjusted annual rate of 417,000. That's still below the 700,000 pace considered healthy by most economists, but it's up 18.5 percent from a year ago. And the median price of a new home was $247,000 in March, up 3 percent from a year ago.
UNDATED (AP) -- US Airways has posted a bigger adjusted profit in the first quarter as it carried more passengers, and collected more from them. The nation's fifth-largest airline says it earned $44 million, or 26 cents per share, beating analysts' expectations. US Airways is in the process of merging with American Airlines to form the biggest airline in the world.
MINNEAPOLIS (AP) -- Delta Air Lines is reporting a small first-quarter profit. The world's second-biggest airline says revenue rose 1 percent, even though it cut flying slightly, and earned $7 million. Delta also says government spending cuts and weak demand from vacationers are hurting revenue this month, but lower fuel prices should help to offset the decline.
WASHINGTON (AP) -- The National Transportation Safety Board has begun a two-day hearing into the problems with lithium-ion batteries on Boeing's 787 Dreamliners. NTSB's Chairman Deborah Hersman says the board wants to "understand why the 787 experienced unexpected battery failures following a design program led by one of the world's leading manufacturers and a certification process that is well-respected throughout the international aviation community."
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