* Lehman Bros. Holdings Inc. said profit climbed 157% to $541 million, or $3.69 a share, in the first quarter, well above the $3.10 a share analysts expected, on a surge in securities trading revenue and gains in investment banking. Net revenue doubled to $2.2 billion. Lehman Bros. closed off $3.63 at $87.81 on the NYSE after rising as high as $94.50.
* Burlington Northern Santa Fe Corp. appealed a U.S. ruling that blocks for at least 15 months review of the company's plan to combine with Canadian National Railway Co. into North America's largest railroad. Burlington Northern challenged Friday's ruling by the Surface Transportation Board at the U.S. Circuit Court of Appeals in Washington. Burlington CEO Robert Krebs said he expects an initial ruling from the appeals court within two months.
* Ford Motor Co. declined to comment on German media reports that it had held takeover talks with luxury auto maker BMW. A spokesman for the Quandt family, which owns 48% of BMW, reiterated that the German auto maker is not for sale.
* VF Corp. agreed to buy Sunbeam Corp.'s Eastpak business, a maker of backpacks, to roll into its Jansport unit, a leading maker of backpacks and outdoor apparel. Terms weren't disclosed.
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