Home Depot raises profit expectations

ATLANTA — A busy spring pushed Home Depot’s first-quarter profit and revenue above Wall Street expectations and the world’s biggest home improvement retailer raised its projections for both in 2015.

Sales at U.S. stores open at least a year were also better than most had expected, rising 7.1 percent.

Many retailers have been struggling, but that is not the case at companies that cater to homeowners. Sales have been booming for both Lowe’s and Home Depot and many economists believe the housing market may be about to take off.

Home Depot earned $1.58 billion, or $1.21 per share, for the three months ended May 3. That compares with $1.38 billion, or $1 per share, a year earlier.

Earnings, adjusted for pretax gains, came to $1.16 per share.

July hearing set on recall compliance

DETROIT — The U.S. government’s highway safety agency says it will hold a rare public hearing in July to determine if Fiat Chrysler failed to notify customers and fix safety problems in 20 recalls covering more than 10 million vehicles.

Among the recalls is a contentious one covering 1.56 million Jeeps with gas tanks located behind the rear axles. The biggest involves almost 3 million cars with air bag inflators that can potentially rupture and injure a car’s occupants.

Ruling is upheld against Samsung

SAN FRANCISCO — A federal appeals court has upheld a jury’s finding that Samsung illegally copied some patented features in Apple’s iPhone, but it sided with Samsung on one point that could reduce the $930 million in damages the South Korean company had been ordered to pay.

The ruling, coming three years after an epic courtroom battle between two tech industry giants, could mean yet another trial over a portion of damages representing more than a third of the total award. Legal experts, however, say the rivals may be more inclined to negotiate a settlement this time around.