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CINCINNATI (AP) — Kroger is reporting a 4 percent jump in first-quarter profit and the nation's biggest supermarket raised its earnings forecast for the year.

Shares rose 5 percent before the opening bell Wednesday and appear to be headed for an all-time high.

The Cincinnati company, which also runs Ralphs, Fry's and other chains — earned $501 million, or 98 cents per share, for the quarter. That compares with $481 million, or 92 cents per share, a year ago.

Removing non-recurring charges, The Kroger Co. earned $1.09 per share, four cents better that Wall Street analysts had been projecting.

Revenue jumped 10 percent to $32.96 billion, which also edged out expectations due in part to a new acquisition, the grocer and pharmacy Harris Teeter.

Sales at established locations climbed 4.6 percent, excluding fuel.

WASHINGTON (AP) — Optimism among chief executives of large U.S. companies has reached a two-year high, driven by greater optimism about hiring and sales.

The Business Roundtable says that its CEO outlook index rose to 95.4 in the second quarter, up from 92.1 in the first quarter.

The gain was spurred by a better outlook on hiring: 43 percent of the CEOs expect to add jobs in the coming six months, up from just 37 percent in the first quarter.

Still, the outlook was not all rosy: the percentage of CEOs planning to invest more in their businesses fell to 44 percent from 48 percent.

Randall Stephenson, CEO of AT&T and chairman of the Roundtable, blamed the drop on the expiration of several investment tax breaks at the beginning of the year.

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Good morning, here are our early stories:

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— Twin Tornadoes In Nebraska Leave Two Dead, Others In Hospital.

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New Attack On Kenyan Coastal Villages Kills Several. (BBC)

Executions In 3 States Set In Next 24 Hours. (AP)

Accused South Korean Ferry Crew Says Coast Guard Responsible For Rescue. (Reuters)

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