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The U.S. economy’s service sector improved in January for the first time in three months, the Institute for Supply Management said Wednesday.

Tank and bulk carrier Patriot Transportation Holding’s fiscal first-quarter net income fell 23.5% to $1.34 million, or 43 cents per share, from $1.7 million, or 56 cents, a year ago.

Covenant Transportation Group said late Wednesday its fourth-quarter loss narrowed from a year ago, as freight revenue declined.

We almost made it through 2009 without another national news exposé of the trucking industry, but then came November and December. This time, the focus was on truck driver training and motor carrier employment practices.

Great Dane Trailers said Wednesday it has acquired Johnson Refrigerated Truck Bodies, which makes insulated fiberglass refrigerated truck bodies. Terms were not released.

Oil prices held over $77 a barrel Wednesday following a report that showed inventories rose last week, Bloomberg reported.

Truck components maker ArvinMeritor Inc. said Tuesday its fiscal first-quarter was break-even, compared with loss of $961 million, or $13.29 a share, a year ago, which included $856 million in write-downs.

Diesel engine maker Cummins Inc. said Tuesday its profit jumped in the fourth quarter due in part to strong sales in China, India and Brazil.