1st time: S&P 500 index closes over 1,900 mark
NEW YORK - The Standard & Poor's 500 index closed above 1,900 for the first time Friday.
Homebuilder stocks rose after the government reported that sales of new homes increased last month. Investors also bid up shares in GameStop and Hewlett-Packard after the companies reported positive earnings.
Trading was relatively quiet ahead of the Memorial Day holiday weekend.
The S&P 500 gained 8.04 to close at 1,900.53. It's up 2.8 percent for the year.
The Dow Jones industrial average rose 63.19 to 16,606.27. The Nasdaq composite added 31.47 to 4,185.81.
Hess name to go away but toy truck to roll on
NEW YORK - The Hess name will disappear from gas station signs after a $2.87 billion deal to sell the chain to Marathon Petroleum's Speedway, but the holidays will still see the popular Hess toy truck.
The deal gives Marathon Petroleum the retail operations of Hess, the largest chain of company-operated gas stations and convenience stores on the East Coast. The Hess stations will all be rebranded as Speedway over three years, the company said.
It also keeps the Hess toy truck on holiday wish lists - as they will still be sold at Hess retail stores and online this year. Starting in 2015, Hess plans to sell the toy trucks online.
Hess said this year will mark the 50th anniversary of the toys.
Suzuki recalling some GM-made small autos
DETROIT - Suzuki is recalling more than 184,000 small cars in the U.S. because the steering columns can catch fire.
The recall covers Forenza models from 2004-08 and Reno models from 2005-08. Both vehicles were made for Suzuki by General Motors.
The Japanese automaker says the headlamp switch or daytime running light modules can overheat, melt and catch fire on the left side of the steering column.
The company will notify owners and fix the problem for free. It hasn't scheduled the repairs yet.
Raising Cane's settles with Bob Marley estate
BATON ROUGE, La. - Bob Marley's estate and Raising Cane's have resolved their legal dispute over the fried chicken finger chain's use of the slogan "One Love," which also happens to be the title of one of the late Jamaican reggae star's biggest hits.
Todd Graves, founder and CEO of Cane's, told The Advocate that a "mutually beneficial agreement" was reached. An attorney for Fifty-Six Hope Road Music Ltd., said "mutually agreeable terms" led to a settlement. Neither side would disclose the terms.
Cane's has used the "One Love" trademark since 2001 with no conflict and registered it with the U.S. Patent and Trademark Office in 2005.
AirTran's final flight planned for December
DALLAS - Another name in aviation history will disappear after the final flight of AirTran Airways, which is scheduled for Dec. 28.
The Atlanta-to-Tampa, Fla., trip has been designated AirTran Flight 1 and will retrace the route taken by a predecessor airline's first flight in October 1993. AirTran served Charleston from 2007 to 2009.
Southwest Airlines Co. bought AirTran in 2011 for $1.4 billion and announced plans to combine the fleets under the Southwest brand.
Irish electrical firm to bring 250 jobs Upstate
COLUMBIA - An Irish company that makes electrical equipment is building its first plant in the U.S. in Anderson County, employing about 250 people.
E&I Engineering announced its new plant Friday. The company plans to spend $17 million renovating an existing building in Anderson and hopes to hire the 250 workers in five years.