IN BRIEF

LOS ANGELES

Builders' sentiment index edges up in November

U.S. homebuilders battered by the worst summer for home sales in a decade are already looking ahead to spring, saying they feel somewhat more optimistic about the prospect for an uptick in sales.

The National Association of Home Builders said Tuesday its monthly index of builders' sentiment edged up in November to 16, the highest reading since June.

The index sank to 13 in August and September, the lowest level since March 2009. It rose to a revised reading of 15 last month, but continues to reflect an overall grim industry outlook.

Readings below 50 indicate negative sentiment about the market. The last time the index was above 50 was in April 2006. The latest report reflects a survey of 420 residential developers nationwide.

DETROIT

General Motors will expand initial public stock offering

Investor demand for General Motors stock has been so strong that the company will expand its initial public offering by 31 percent, to 478 million common shares, a person briefed on the sale said Tuesday.

The move could make GM's IPO the largest in history for a U.S.-based company. If GM's sale of preferred shares is included, the offering could have a total value of $21.6 billion, topping Visa Inc.'s $19.7 billion IPO in 2008, the IPO tracking firm Dealogic reported.

GM is expected to announce the final price of the IPO today and shares will start trading Thursday at a price of $33 each, according to the person, who asked not to be identified because he is not authorized to speak publicly about the sale.

Most of the additional shares will be sold by the U.S. government, said the person. A union health care trust would sell a small part of the additional shares, the person said.

Bankers handling GM will take an option to sell another 55 million shares, bringing the total value of the common shares sold to $17.6 billion. The company will sell preferred shares worth $4 billion, bringing the total value of the deal to $21.6 billion.

WASHINGTON

Factories boost output in October by most since July

Factories boosted their output in October by the most since July, the Federal Reserve said Tuesday. Its report follows several other positive readings on the economy, including data released Monday that showed retail sales rose in October by the most in seven months.

And a report Tuesday on wholesale prices showed that the rising production and sales aren't increasing prices enough to fan inflation fears. That gives the Federal Reserve leeway to carry out its $600 billion bond purchase plan to try to lower interest rates and spur growth.

Manufacturers boosted their production by 0.5 percent in October, the Fed said. The gain was led by increased output of long-lasting goods, such as autos, appliances and business equipment. Overall, industrial production was unchanged last month -- but only because of a drop in utilities' output as unusually warm weather reduced demand for heating.

Wholesale prices rose in October, the fourth straight monthly increase. The gain was due mainly to higher gas costs, and there was no sign of significant inflation as the costs of food, cars and computers all fell.

OMAHA, Neb.

TD Ameritrade will offer cash to users affected by data theft

Online brokerage TD Ameritrade plans to offer up to $2,500 to each of the more than 6 million current and former customers affected by the theft of their contact information more than three years ago, if a federal judge approves the deal.

The proposed settlement, which was outlined in court documents filed Monday, will cost Ameritrade between $2.5 million and $6.5 million. Last year, U.S. District Judge Vaughn Walker in San Francisco rejected an earlier class-action settlement because it didn't do enough to benefit the Ameritrade customers affected. A hearing on the new settlement is scheduled for Dec. 23.

The Omaha-based company disclosed the breach in September 2007. Anyone who held an Ameritrade account or provided an e-mail address to the company before then could have been affected by the data theft.

ADELPHI, Md.

Health experts vote in favor of new drug to treat lupus

Federal health experts on Tuesday voted in favor of the first new drug to treat lupus in more than 50 years, setting aside concerns that the experimental therapy does not work in some key patient groups.

The recommendation from a panel of Food and Drug Administration advisers brings the biotech drug from Human Genome Sciences one step closer to market. The drug was co-developed with GlaxoSmithKline PLC.

The drug, called Benlysta, is designed to treat flare-ups and pain caused by lupus, a little-understood and potentially fatal ailment in which the body attacks its own tissue and organs.