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News Summary: Discover Financial 1Q profits rise

The Associated Press

DISCOVER THIS: More loans and higher interest income helped lift Discover Financial Services' first-quarter profit by 2 percent. The credit-card company got another boost from more customers paying their loans on time: delinquent loans sank to an all-time low.

BEATS THE STREET: Discover said Tuesday that its profit after paying preferred dividends rose to $659 million, or $1.33 per share, for the three months ended March 31. Analysts, on average, expected $1.14 per share, according to FactSet.

SHARES GAIN: The company's shares rose 81 cents, about 2 percent, to $44.42, after reaching an all-time high of $45.61 in early trading.