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Initial jobless claims dropped by 12,000 last week, the Labor Department said Thursday.

Old Dominion Freight Line’s fourth-quarter profit fell to $9.7 million, or 26 cents per share, from $11 million, or 30 cents, a year ago.

Canadian freight railroad Canadian Pacific’s fourth-quarter net income grew 3% to C$194.1 million, or C$1.15, from C$188.1 million, or C$1.21, a year earlier, Reuters reported.

Truckload carrier USA Truck reported a fourth-quarter loss of $2.5 million, or 24 cents per share, compared with net income of $599,000, or 6 cents, a year ago.

Arkansas Best Corp. said Thursday it lost $88.7 million, or $3.54 per share, in the fourth quarter, compared with a loss of $11 million, or 44 cents, a year earlier.

Logistics, intermodal and brokerage firm Hub Group’s fourth-quarter profit fell to $10 million, or 26 cents a share, from $14.2 million, or 38 cents, a year ago.

New home sales fell 7.6% in December, the Commerce Department said Wednesday.

Heavy equipment and diesel engine maker Caterpillar Inc.’s fourth-quarter profit fell 65% to $232 million, or 36 cents a share, from $661 million, or $1.08, a year ago.

Michigan lawmakers have proposed a 6-cent increase in the state’s diesel tax to help pay for road improvements, the Associated Press reported.

Consumer confidence rose this month to its highest level since September 2008, the New York-based Conference Board reported.