Income grew 0.4 percent following a 0.3 percent gain in February. But after-tax income when adjusted for inflation increased just 0.2 percent in March. The gain followed two months of declines.
___
Delta buys a refinery in bid to cut its fuel bill
Delta Air Lines said on Monday that it will buy a refinery near Philadelphia in the hope of slicing $300 million a year from its jet fuel bill.
Delta said a subsidiary will buy the refinery in Trainer, Pa., from Phillips 66, a refining company being spun off from ConocoPhillips. Delta is paying $150 million, including $30 million in job-creation assistance it expects to get from the state of Pennsylvania. ___ Stubborn inflation, weak lending weigh on eurozone FRANKFURT, Germany (AP) ⿿ Europe got more downbeat economic news Monday as inflation remained higher than expected and European Central Bank data showed only anemic growth in lending credit to businesses ⿿ despite its massive infusion of cheap money into the financial system. Inflation in the 17 countries that use the euro fell to an annual 2.6 percent in April, down from 2.7 percent in March but higher than the 2.5 percent expected by market analysts. Rising prices have been a consistent headache for the ECB ⿿ the chief monetary authority for the 17-country eurozone. The annual rate has remained well above the central bank's goal of just under 2 percent, a target that it now says won't be reached until early 2013. ___ AB InBev profit jumps 75 percent thanks to lower costs BRUSSELS (AP) ⿿ The world's biggest brewer Anheuser-Busch InBev NV said Monday its first-quarter net profit jumped 75 percent thanks to lower financing costs and taxes as well as higher beer sales. Net profit rose to $1.69 billion for January through March, compared with $964 million a year earlier, including a sharp drop in financing costs and declining taxes. AB InBev's chief financial officer, Filipe Dutra, said the company was benefiting from growing profits in countries like Brazil, where the tax rate is lower than in Europe and the U.S.Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
Product Features:
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
