Business news in brief

SEPTA has reached a tentative contract with the labor union representing Regional Rail conductors and assistant conductors. The agreement calls for raises totaling 11.5 percent over the five-year life of the contract, similar to the pattern established by a 2009 contract with SEPTA's largest union, Transport Workers Union Local 234, which represents bus and subway operators and mechanics. The tentative agreement with 390 conductors and assistant conductors must still be ratified by the members of United Transportation Union Local 61 and the SEPTA board. The UTU's last contract with SEPTA had expired on Oct. 17, 2009. Two of SEPTA's 17 bargaining units remain without contracts: the unions representing locomotive engineers and electrical workers. - Paul Nussbaum

Manufacturing in the Philadelphia region remained marginally on the upswing this month, but factory heads showed "diminished optimism" for growth over the next six months, according to the Federal Reserve Bank of Philadelphia. The bank's closely watched survey results from 80 manufacturers indicate that general activity and new orders remained near March's modest levels, but shipments showed some improvement, the Fed said. The survey's broad measure of manufacturing conditions fell to 1.3, from last month's level of 2.0. Measures above zero indicate growth. Employment levels edged lower, the bank said, but firms continued to indicate modest hiring plans for the coming months. Overall, 17 percent of responding firms said they had decreased employment, while 10 percent said they had increased hiring. - Reid Kanaley

NBC Sports extended its TV sports rights deal with the University of Notre Dame through the 2025 season. The pact enables NBC to televise Fighting Irish football games. Financial terms were not disclosed. The new deal begins with the 2016 season. NBC said that $80 million of its TV money has helped 6,300 Notre Dame students pay for college since the first year of the first contract in 1991. - Bob Fernandez

Standard & Poor's raised its credit rating on Horizon Blue Cross Blue Shield of New Jersey to A from A-minus and revised its outlook to stable. The S&P report said that Newark-based Horizon, which is the largest commercial health insurer in New Jersey with a 46 percent market share, had solidified its financial strength in the last few years and would be able to withstand anticipated lower profits in the business that manages benefits for Medicaid beneficiaries as the provisions of the Affordable Care Act roll out. Horizon has 3.66 million members, S&P said. - Harold Brubaker

Zonoff Inc., whose Connected Home software offers a single system to control an array of "smart home" devices such as home automation, remote control, energy management, and safety monitoring, said that it had raised $3.8 million in a new round of venture funding. The Malvern company said the new investment, led by Virginia's Valhalla Partners and Grotech Ventures, would help Zonoff reach its goal of bringing its software to major companies marketing smart-home systems to consumers. - Jeff Gelles

Federal health experts are split over whether a long-acting testosterone injection from Endo Health Solutions is safe enough to be used by men with low levels of the hormone. A Food and Drug Administration panel voted, 9-9, on the safety of Endo's Aveed, a drug designed to be injected once every 10 weeks to boost testosterone levels. The FDA is not required to follow the group's advice, though it often does. The split vote is the latest twist in the drug's six-year FDA review, which has seen two previous rejections. Endo has asked the FDA to approve its drug as a long-lasting treatment for hypogonadism, which is characterized by abnormally low testosterone levels. The condition is associated with fatigue, weight gain, depressed mood and reduced libido. - AP

The Good Shepherd Rehabilitation Network, which is based in Allentown and in partnership with Penn Medicine has numerous sites in the Philadelphia region, named John A. Kristel, currently chief executive of Carlisle Regional Medical Center in Carlisle, Pa., as CEO. Kristel will succeed Sally Gammon, who will retire in July after 16 years leading Good Shepherd, which had $110 million in revenue in the year ended June 30. Earlier in his career, Kristel worked for Tenet Health System at Graduate Hospital and Hahnemann University Hospital. - Harold Brubaker

Google Inc. earned $3.3 billion, or $9.94 per share, during the opening three months of the year. That was a 16 percent increase from $2.9 billion, or $8.75 per share, last year. If not for certain expenses, Google said it would have earned $11.58 per share. That figure exceeded the average earnings estimate of $10.65 per share among analysts surveyed by FactSet. Revenue climbed 31 percent from last year to $14 billion. After subtracting advertising commissions, Google's revenue totaled $11 billion - about $335 million below analyst estimates. - AP

J.C. Penney Co. said two top executives, Michael Kramer, chief operating officer, and Dan Walker, chief talent officer, left the company. Kramer and Walker were among several executives hired in November 2011 by Penney's former CEO, Ron Johnson. Johnson was ousted April 8 after his plans to reinvent the chain led to disastrous results. The departures are the latest personnel changes that Penney's new CEO, Mike Ullman, who had been Johnson's predecessor, is making as he cleans house. - AP

Mortgage buyer Freddie Mac said the average rate for the 30-year fixed loan dipped to 3.41 percent from 3.43 percent last week. That's not far from the record low 3.31 percent rate reached in November. The average rate on the 15-year fixed mortgage slipped to 2.64 percent from 2.65 percent the previous week. That nearly matches the record low of 2.63 percent reached in November. - AP