General Electric Company (GE: chart) posted before the bell Thursday an 8% rise in its quarterly profits, boosted by improved performance in most of its businesses. The Fairfield, Connecticut-based diversified technology, media and financial services company reported net earnings of $3.2 billion, or 32 cents per share, for its fiscal 2004 first quarter, compared with net earnings of $3 billion, or 30 cents per share, in the comparable period of 2003. Results were in line with Wall Street’s expectations. GE said that the prior-year earnings included a $215 million accounting charge. Excluding items, earnings in the quarter ended March 31, 2004, were up 1% from the year-ago results. Quarterly revenue advanced 10% to $33.5 billion, from $30.4 billion in the same period last year. GE said profits at its infrastructure business rose 20%, while the advanced materials segment recorded a 40% profit improvement. Earnings in the equipment division surged 53%.

Looking ahead, GE said it expects to earn $1.59 to $1.65 a share in 2004, compared with its previous forecast of $1.55 to $1.65 a share.

GE shares gained a penny to close Thursday at $31.41. The stock dropped 2 cents to $31.39 in after-market trade.

Rite Aid Corporation (RAD: chart) of Camp Hill, Pennsylvania, reported before market open Thursday that its quarterly earnings jumped more than eight times from a year earlier, when results were hurt by store closing and impairment charges. The drugstore chain rolled out a fourth-quarter profit of $59.1 million, or 9 cents per diluted share, compared with a net profit of $7 million, or a loss of 2 cents per diluted share, in the corresponding period a year ago. Rite Aid said that last year’s per-share loss was a result of cumulative preferred stock dividends. For the quarter ended February 28, the company reported revenue of $4.4 billion, up 6.2% from $4.1 billion, in 2003. Analysts were looking for earnings of 8 cents a share, on revenue of $4.39 billion.

The stock rose 2.22% to $5.52 at market close Thursday.

SunTrust Banks, Inc. (STI: chart) announced Thursday that its first-quarter net profit climbed 9% to $358.5 million, or $1.26 per share, from a net profit of $327.8 million, or $1.17 per share, in the 2003 equivalent. The Atlanta, Georgia-based bank attributed the results to higher fee income and decreased bad loans. Earnings were 3 cents a share ahead of the consensus estimate of analysts. Quarterly revenue was up 6% to $1.46 billion.

Company shares closed Thursday up 30 cents, or 0.43%, at $70.15.

Abbott Laboratories (ABT: chart) of Abbott Park, Illinois, said Thursday that it earned $823 million, or 52 cents per share, in its fiscal first quarter, compared with net earnings of $801 million, or 51 cents per share, in the same period a year ago. Excluding items, the drug maker posted a profit of 57 cents per share, a penny better than the average analysts’ estimate. First-quarter revenue rose 13.9% to $5.22 billion, driven by a 24% jump in sales of prescription drugs.

The stock slipped 1.01% on Thursday to $42.32. Company shares inched down 2 cents to $42.30 in after-hours trading.

Loehmann's Holdings, Inc. (LHMS: chart) posted Thursday higher quarterly earnings, citing stronger comparable-store sales. The Bronx, New York-based upscale off-price specialty retailer turned in net income of $945,000, or 12 cents a share, for its fiscal fourth quarter, in contrast to net income of $409,000, or 5 cents a share, in the prior-year period. Net sales advanced 9.7% to $93.8 million in the quarter, from $85.6 million a year earlier. Same-store sales improved 3.6%.

Company shares dipped 1.45% to $20.40 at market close Thursday.