Stocks climb…US airline profits soar…Report: Better shields needed for private tax data

NEW YORK (AP) — Stocks are soaring in afternoon trading on Wall Street. The Dow Jones industrial average has been up more than 300 points. Caterpillar and 3M are leading the gains among industrial stocks, which are up significantly more than the rest of the market. Caterpillar rose 5 percent and 3M rose 6 percent after each company reported earnings that impressed investors.

DALLAS (AP) — Profits are soaring at the biggest U.S. airlines, and much of the credit goes to savings on fuel, which is an airline’s biggest expense. The world’s biggest airline operator, American Airlines Group, says it earned an all-time best $942 million profit in the June-through-September quarter. United Continental Holdings posted net income of $924 million, up from $379 million a year earlier. And Southwest Airlines’ profit rose 27 percent to $329 million. All three companies beat Wall Street expectations for earnings.

WASHINGTON (AP) — Federal investigators say the IRS and the states should improve how they protect the security of confidential tax information of people getting benefits under the 2010 health care law. A report released today says states operating health insurance exchanges — where consumers can buy coverage — should be required to get independent assessments of the security of tax information they get from the IRS. The IRS provides data on lower-income people who apply for tax credits to help pay for their health insurance.

DALLAS (AP) — The hospital where a man diagnosed with Ebola died and two nurses were infected with the virus says its revenue and patient rolls have plummeted. Texas Health Presbyterian Hospital Dallas says in financial statements that its revenue fell 25 percent in the first 20 days of October, shortly after Thomas Duncan was admitted with Ebola. The hospital says emergency room visits have fallen more than 50 percent. Presbyterian Hospital has been criticized for its initial care of Duncan, who was released after going to the emergency room Sept. 25 with a fever and other Ebola symptoms.

PORTLAND, Ore. (AP) — Oregon has expanded its investigation into discrimination at the Portland truck-making plant of German automotive giant Daimler AG after four more employees came forward with allegations of racial harassment. The four new civil rights complaints against Portland-headquartered Daimler Trucks North America bring the total to nine, all filed over the past few weeks. They include allegations of racial discrimination and physical threats against African-American employees. Daimler Trucks says it doesn’t tolerate discrimination.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Federal News Network Logo
Log in to your WTOP account for notifications and alerts customized for you.

Sign up