Earnings roundup: Charles Schwab, J&J

SAN FRANCISCO (AP) Charles Schwab Corp. first-quarter profit rose 12 percent to catapult the discount stock brokerage to the most prosperous start in its history, providing a glimmer of good news amid the gloom hanging over the financial sector.

TRENTON, N.J. (AP) Health products maker Johnson & Johnson reported a 40 percent jump Tuesday in its first-quarter profit, mainly due to the weak dollar boosting foreign revenues and a research charge taken a year ago.

LONDON (AP) Tesco PLC, the British-based grocer opening stores across the United States, reported a 12.3 percent rise in annual profits Tuesday, cheering investors amid an otherwise gloomy retail market.

MINNEAPOLIS (AP) U.S. Bancorp said Tuesday its first-quarter earnings fell 4 percent due to losses stemming from the mortgage crunch but declared its credit problems will continue to be manageable.