Financial news on August 01, 2012

Business and Financial news
A Campus Built by Labor Is Going on the Block

National Labor College, founded by the AFL -CIO, is selling its 47-acre campus in Silver Spring, Md. Read more..

By EUGENE L. MEYER - The New York Times

After Splashy Introduction, Airtime Seems to Deflate

Airtime, the video-chat service started by the founders of Napster, does not appear to be attracting many users, despite a flashy unveiling and millions in venture funding. Read more..

By JENNA WORTHAM - The New York Times

Archer’s Profit Drops 25% on Losses in Ethanol Unit

Corn processing company Archer Daniels Midland posts a 25 percent decline in quarterly profit, hurt by record corn prices and a decline in profit from its ethanol operations; company earned $284 million, or 43 cents a share, below the $381 million, or 58 cents a share, it earned a year ago; revenue slipped less than 1 percent to $22.68 billion from $22.87 billion a year earlier. Read more..

By THE ASSOCIATED PRESS - The New York Times

Business Day Live | August 1, 2012

A setback for efforts to hold Wall Street accountable. | Online poker sites forfeit millions. | India's booming TV business. Read more..

Mac William Bishop, Nadia Sussman, Channon Hodge and Pedro Rosado - The New York Times

Condé Nast Traveler Sees the World in Anniversary Style

Stuart Elliott Advertising column on Conde Nast Traveler, which has signed Chase Card Services and United Airlines to sponsor a promotion selling discounted travel packages in commemoration of its 25th anniversary. Read more..

By STUART ELLIOTT - The New York Times

Economic Thinkers Try to Solve the Euro Puzzle

Europe’s financial difficulties have created the opportunity of a lifetime for ambitious idea merchants looking for fame; top economic policy theorists like Graham Bishop, Daniel Gros and Markus K Brunnermeier are promoting competing plans for solving Europe's debt debacle. Read more..

By LANDON THOMAS Jr - The New York Times

Global Slowdown Pulling More Heavily on Asia

The European sovereign debt crisis, a slowing China and sluggish activity in the United States are weighing on global demand, hurting exporters like Japan, South Korea and Taiwan. Read more..

By REUTERS - International Herald Tribune

Home Prices Rose in May for 4th Consecutive Month

S&P/Case-Shiller composite index shows that home prices rose for the fourth month in a row in May 2012, suggesting the recovery in the housing market continues to gain traction even as other economic indicators show signs of weakness. Read more..

By REUTERS - The New York Times

Profit at Aetna and Allstate Tops Analysts’ Expectations

Aetna and Allstate both report earnings that exceed Wall Street expectations; Aetna reports second-quarter net income of $457.6 million, or $1.32 a share, compared with $536.7 million, or $1.39 a share, a year earlier; quarterly revenue rose to $8.82 billion from $8.32 billion a year earlier; Allstate reports a net profit of $423 million, or 86 cents a share, in contrast to a $624 million loss in the same period a year earlier, or $1.19 a share; quarterly revenue rose to $8.28 billion, from $8.08 billion a year earlier. Read more..

By REUTERS - The New York Times

U.S. Steel Beats Forecasts in a Tough Climate

US Steel reports second-quarter earnings that exceed Wall Street's expectations, though net income still fell by half in the three months ending in June 2012 compared to the year-ago quarter; reports earnings of $101 million, or 62 cents a share, down 54.5 percent from net income of $222 million, or $1.33 a share, a year ago; revenue fell 2 percent to $5.02 billion. Read more..

By THE ASSOCIATED PRESS - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 16.01 16.07 15.76 15.98 47.4M
Facebook FB 21.50 21.58 20.84 20.88 44.6M
Pfizer PFE 23.92 24.18 23.73 23.94 42.5M
Wells Fargo & Co. WFC 33.92 34.80 33.80 33.90 41.1M
General Electric GE 20.86 20.95 20.71 20.73 35.7M
Microsoft MSFT 29.59 29.65 29.21 29.41 31.7M
Intel INTC 25.83 26.00 25.67 25.93 29.2M
HP Inc. HPQ 18.31 18.45 17.61 17.66 28.8M
AT&T Inc. T 38.14 38.28 37.64 37.64 28M
JPMorgan Chase JPM 36.19 36.40 35.82 36.00 22.2M
Comcast CMCSA 33.59 34.00 33.48 33.55 22.2M
Verizon Communications VZ 45.43 46.41 45.06 45.21 18.3M
Oracle Corp. ORCL 30.34 30.52 30.03 30.32 17.3M
Altria MO 36.14 36.29 35.96 36.03 15.6M
General Motors GM 19.78 20.58 19.43 19.66 14.8M
ExxonMobil XOM 87.02 87.45 86.18 86.91 14.3M
Apple AAPL 615.91 616.40 603.00 606.81 13.7M
Pepsico PEP 72.79 72.91 71.09 72.40 13M
Johnson & Johnson JNJ 69.48 69.75 69.25 69.38 11.7M
Merck MRK 44.45 44.79 44.10 44.28 11.2M
Berkshire Hathaway BRK.B 85.04 85.31 82.12 84.62 9.87M
Wal-Mart Stores WMT 74.70 74.79 73.42 73.62 9.7M
Abbott Laboratories ABT 66.43 66.74 66.06 66.10 9.15M
Chevron CVX 109.72 111.23 109.14 110.50 8.36M
Home Depot HD 52.31 52.53 51.55 51.68 8.33M
Procter & Gamble PG 64.87 64.97 63.90 64.01 7.78M
UnitedHealth Group UNH 51.21 51.92 50.75 51.21 7.62M
ConocoPhillips COP 54.64 55.42 54.28 55.22 7.61M
Bristol-Myers Squibb BMY 35.73 36.00 35.54 35.60 7.04M
Walt Disney & Co. DIS 49.14 49.14 49.14 49.14 6.78M
Gilead Sciences GILD 54.45 54.60 53.50 53.63 6.57M
Coca-Cola KO 80.97 81.25 80.59 81.01 6.48M
Schlumberger SLB 71.41 72.48 70.26 71.68 6.39M
Boeing BA 74.32 74.48 72.64 72.77 4.7M
United Technologies UTX 74.90 75.37 74.41 74.79 4.14M
McDonald's MCD 89.49 89.85 89.30 89.43 4.13M
Amgen AMGN 83.42 83.61 81.75 81.82 4.05M
Alphabet GOOGL 637.30 639.51 631.38 632.68 3.69M
Visa V 128.50 129.41 127.00 127.46 2.9M
International Business Machines IBM 196.96 197.85 194.72 195.18 2.56M
Amazon AMZN 234.14 234.38 230.70 232.09 2.54M
3M MMM 91.65 91.80 90.61 91.20 2.15M
Union Pacific UNP 123.09 123.23 121.18 121.59 1.71M
Exchange Rates of August 01, 2012
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 78.420 JPY 1 JPY = 0.013 USD
US Dollar Canadian Dollar 1 USD = 1.005 CAD 1 CAD = 0.995 USD
US Dollar Swiss Franc 1 USD = 0.982 CHF 1 CHF = 1.018 USD
US Dollar Chinese Yuan 1 USD = 6.369 CNY 1 CNY = 0.157 USD
Euro Japanese Yen 1 EUR = 95.900 JPY 1 JPY = 0.010 EUR
Euro Pound Sterling 1 EUR = 0.787 GBP 1 GBP = 1.271 EUR
Euro Australian Dollar 1 EUR = 1.169 AUD 1 AUD = 0.855 EUR
Euro Canadian Dollar 1 EUR = 1.229 CAD 1 CAD = 0.814 EUR
Euro Swiss Franc 1 EUR = 1.201 CHF 1 CHF = 0.832 EUR
Euro Chinese Yuan 1 EUR = 7.790 CNY 1 CNY = 0.128 EUR
Japanese Yen Pound Sterling 1 JPY = 0.820 GBP 1 GBP = 1.219 JPY
Japanese Yen Australian Dollar 1 JPY = 1.218 AUD 1 AUD = 0.821 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.281 CAD 1 CAD = 0.781 JPY
Japanese Yen Swiss Franc 1 JPY = 1.252 CHF 1 CHF = 0.799 JPY
Pound Sterling Australian Dollar 1 GBP = 1.485 AUD 1 AUD = 0.673 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.562 CAD 1 CAD = 0.640 GBP
Pound Sterling Swiss Franc 1 GBP = 1.526 CHF 1 CHF = 0.655 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.899 CNY 1 CNY = 0.101 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.051 CAD 1 CAD = 0.951 AUD
Australian Dollar Swiss Franc 1 AUD = 1.028 CHF 1 CHF = 0.973 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.663 CNY 1 CNY = 0.150 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.977 CHF 1 CHF = 1.023 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.336 CNY 1 CNY = 0.158 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.482 CNY 1 CNY = 0.154 CHF

See what else happened on August 01, 2012