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Stocks climb...Pending home sales rise...Frontier cuts fares, charges for overhead bins

Monday - 4/28/2014, 11:30am  ET

NEW YORK (AP) -- Stocks are climbing in the early going on Wall Street as traders hope for another blockbuster merger in the health-care industry. Pfizer is leading other health-care companies higher after the drug maker renewed its push to buy its British rival AstraZeneca. Bank of America plunged 5 percent after the Federal Reserve forced the bank to suspend its plans to increase its dividend and buy back more of its own stock.

WASHINGTON (AP) -- More Americans signed contracts to buy homes in March, the first increase since June. The National Association of Realtors says its seasonally adjusted pending home sales index rose 3.4 percent to 97.4 last month. Still, the index remains 7.9 percent below its level a year ago. Pending sales are a barometer of future purchases: A one- to two-month lag usually exists between a signed contract and a completed sale.

WASHINGTON (AP) -- The Supreme Court will decide what a home buyer must do to rescind a mortgage that violates the federal Truth in Lending Act. The justices agreed today to hear an appeal from a Minnesota couple who refinanced their home in 2007 with Countrywide Home Loans. They claim the company failed to provide some disclosures required under federal law.

WASHINGTON (AP) -- The Supreme Court has declined to take up software maker Novell's appeal in a long-running antitrust case against Microsoft. The justices are letting stand an appeals court ruling that rejected Novell's $1 billion lawsuit alleging Microsoft undermined the once popular WordPerfect writing program in favor of its own Word program with the Windows 95 rollout. Novell claimed Microsoft duped it into developing WordPerfect for Windows 95 only to pull the plug so Microsoft could gain market share with its own product.

DENVER (AP) -- Frontier Airlines is lowering its fares, but passengers will have to pay fees for any extras beyond a seat on the plane. Starting today, the Denver-based airline is cutting economy prices by an average of about 12 percent. Passengers will get to bring one item that fits under the seat, but will have to pay extra to either put a bag in the overhead bin or check a bag. They'll also have to pay extra to select a seat in advance or to get a drink or food.


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