Business Highlights

The increase compared with a loss of $4.4 billion for the same quarter of 2011. It also marked the sixth quarter in which Freddie sought no additional aid since being taken over by the government in September 2008.

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CVS Caremark 3Q profit up 16 percent as sales rise

CVS Caremark Corp. said Tuesday that its third-quarter earnings climbed 16 percent. The drugstore operator and pharmacy benefits manager posted revenue increases in both businesses, benefiting from new customers won from rivals. It also raised its full-year earnings outlook.

The Woonsocket, R.I., company said it earned $1.01 billion, or 79 cents per share, in the three months that ended Sept. 30. That compares with earnings of $868 million, or 65 cents per share, in last year's quarter. Adjusted earnings were 85 cents per share, 2 cents better than analysts expected. That excluded $121 million for the gradual write down of acquisition-related assets.

Revenue jumped 13 percent to $30.2 billion, above the $30.09 billion analysts expected.

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News Corp 1Q earnings beat Street; revenue close

NEW YORK (AP) ⿿ News Corp. said Tuesday that net income for the latest quarter tripled from a year ago, reflecting a one-time gain from the sale of its stake in digital video technology company NDS. Revenue rose 2 percent thanks to growth at pay TV networks such as Fox News Channel.

The company controlled by CEO Rupert Murdoch said that fiscal first-quarter net income came to $2.23 billion, or 94 cents per share, compared with $738 million, or 28 cents per share, a year ago.

Excluding about $1.38 billion in special gains, largely due to the NDS sale, adjusted earnings came to 43 cents per share, beating the 37 cents per share expected by analysts, according to FactSet.

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France to give businesses $25 billion tax break

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