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Samsung Electronics on Tuesday posted a strong quarterly profit on growing demand for memory chips and displays. The tech giant in a regulatory filing said that its operating profit increased 11.5 % quarter-on-quarter to 5.9 trillion won ($5.44 billion) in the January-March period. The profit represented a 30.5% drop from a year earlier.

The first-quarterly operating profit of the company was far above the median market forecast of 5.47 trillion won among South Korea's 21 brokerage houses.

Total sales at Samsung were estimated to be at 47 trillion won from the period of January to March. Sales were 12.44% less from a year earlier and were down 10.87% from the previous three-month period.

On Tuesday, the Rocky Mountain Institute, CohnReznick and HOMER Energy, released a report 'The Economics of Load Defection' which calculated the economics through 2050 for people in five United States markets. According to the report, grid-connected solar-storage systems are more cost-effective than grid-supplied electricity. It will be more economic than grid power in areas like California, New York and Texas within the next one and one and half decade, as per the report.

The report 'The Economics of Load Defection' is follow-up of last year's 'Economics of Grid Defection' report. The new report included same places that the previous reports had included. Those places were Honolulu, Hawaii; Louisville, Kentucky; Los Angeles, California; Westchester, New York and San Antonio, Texas.

On Friday, electric carmaker Tesla Motors announced that it sold 10,030 cars in the first three months of 2015.

Shares of Tesla surged more than 8% after the company reported strong vehicle sales. The company announced that in the first quarter of the year, vehicle deliveries rose 55%, setting a new record. With this number, the Silicon Valley electric-car maker has attained the pace to far exceed the 31,655 Model S sedans sold in 2014.

Tesla said it would publish the number of new car deliveries within three days of quarter end. Company's Chief Executive Elon Musk has set a target of 55,000 deliveries in 2015, and 500,000 by 2020. If those ambitious sales are met, these benchmarks would transform Tesla's profile in the cutthroat car business.

On Tuesday, FedEx Corp announced that it is planning to acquire Dutch package delivery firm TNT Express for 4.4 billion euros ($4.8 billion).

The deal came two years after a takeover of TNT by US rival United Parcel Service Inc. (UPS) for nearly $7 billion fell apart due to antitrust issues. FedEx and TNT both said that the all-cash deal had been approved by the Dutch company's board. Under the deal, FedEx will offer 8 euros in cash per ordinary TNT share. This would give the US firm access to TNT's European road network and TNT the access to FedEx's global distribution platform.

According to a New York-base footwear maker, which earlier outsourced work to China, it will bring back 100 jobs at its western New York factory using $1.75 million in state tax credits.

PW Minor is maker and distributor of leather footwear and orthopedic products. Batavia Shoes LLC, which owns PW Minor, was established in 1867 by two brothers shortly after the Civil War. Last year, the company was threatened with closing prior to new local ownership and management took over 50 jobs after it got about $450,000 in tax credits.

An announcement has been made by Starbucks Corp that the largest coffee chain is going to expand its college tuition assistance program so that it can cover the full cost of a four-year online bachelor's degree.

This step is a major expansion of the company's earlier commitment. As part of its 'Starbucks College Achievement Plan', it has been providing tuition coverage to juniors and seniors in association with Arizona State University since last June.

This recent step is going to extend the program in order to cover the whole four years to its partners for a bachelor's degree through ASU's online program. According to Starbucks CEO Howard Schultz, it is expected that the company is going to spend minimum $250 million over the next decade on tuition for more than 20,000 employees.