Financial news on May 1st, 2013

Business and Financial news
A 15% Gain In Earnings At Sirius XM

Sirius XM Radio reports continued growth for its first quarter and announces that its interim chief executive, James E Meyer, is taking the job permanently; says revenue rose 12 percent to $897 million; net income increased 15 percent to $124 million. Read more..

By BEN SISARIO - The New York Times

Anheuser-Busch InBev Reports a Small Profit Increase

Profit rose 0.9 percent to $3.43 billion, though the company sold less beer and other drinks compared with the first quarter of last year. Read more..

By REUTERS - The New York Times

A Retrenched BP Tops Profit Forecasts

BP reports first-quarter profit of $4.2 billion, beating analysts' forecasts; overall net income for the period was $16.6 billion, including the sale of a 50% stake in its Russian affiliate TNK-BP, compared with $4.8 billion a year earlier. Read more..

By STANLEY REED - The New York Times

Chinese Way of Doing Business: In Cash We Trust

For all China’s modern trappings, many experts say mutual wariness between the government and its citizens means the country still prefers to pay for things the old-fashioned way. Read more..

By DAVID BARBOZA - The New York Times

Craving Wi-Fi, Preferably Free and Really Fast

Hotels, airports and airlines are struggling to keep up with customer demand for high-quality Wi-Fi service for their increasingly powerful mobile devices; airlines are still installing Wi-Fi on many aircraft and are already confronting challenges. Read more..

By SUSAN STELLIN - The New York Times

Hulu Says Number of Paid Subscribers Has Doubled

The online video site said it now has four million paid subscribers, up from two million last year, even as two of its owners are weighing whether to sell the company. Read more..

By BRIAN STELTER - The New York Times

Newspapers Post Gains in Digital Circulation

Nation's newspapers report that they suffered slight declines in total circulation, but are benefiting from an increase in digital subscriptions; Wall Street Journal has the highest circulation, at 2,378,827; New York Times reports circulation of 1,865,318, a 17.6 percent rise over a year earlier. Read more..


Obama Ally Likely Pick for F.C.C.

President Obama is expected to nominate Tom Wheeler as chairman of the Federal Communications Commission; Wheeler is a lobbyist and venture capitalist who has been a prominent fund-raiser in Obama's presidential campaigns; consumer advocacy groups have raised concerns about his background investing and lobbying for cable and wireless companies. Read more..

By EDWARD WYATT - The New York Times

Parental Quest Bears Fruit in a Kidney Disease Treatment

Food and Drug Administration approves drug Procysbi to treat nephropathic cystinosis, extremely rare inherited disease that, if untreated, typically destroys the kidneys by age 10; to be sold by Raptor Pharmaceutical Corp, drug was developed with early financing from a foundation that shows the important role that determined parents can play in drug development, but also raises questions about whether society can afford to pay for drugs that treat rare illnesses. Read more..

By ANDREW POLLACK - The New York Times

Single-Family Home Prices Increased 9.3% in February

S&P/Case Shiller index of 20 metropolitan areas shows that home prices in February rose 9.3 percent, their fastest rate in almost seven years, another sign of the housing market recovery; Conference Board says its index of consumer attitudes rose to 68.1 from a revised 61.9 the previous month. Read more..

By REUTERS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20.8320.9020.3520.3844.8M
General ElectricGE22.1022.3522.1022.1539.2M
Oracle Corp.ORCL32.7533.6232.7233.1632.7M
Verizon CommunicationsVZ53.7753.9752.0952.4023.9M
AT&T Inc.T37.4637.9737.4637.5621.8M
JPMorgan ChaseJPM48.7648.9147.8548.0117.7M
Wells Fargo & Co.WFC37.9037.9637.2937.4617.6M
HP Inc.HPQ20.4820.5820.1520.3515.1M
Johnson & JohnsonJNJ84.5085.1383.8884.2312.3M
General MotorsGM30.7731.0830.1130.1810.4M
Bristol-Myers SquibbBMY39.4739.8339.1839.729.96M
Gilead SciencesGILD50.4550.6549.8650.149.68M
Procter & GamblePG76.8377.7776.7276.998.39M
Walt Disney & Co.DIS62.8863.5062.8063.217.47M
Wal-Mart StoresWMT77.8578.6677.6978.066.26M
Home DepotHD73.1873.5972.6472.765.55M
Abbott LaboratoriesABT36.7737.2036.6236.895.46M
International Business MachinesIBM201.87202.17199.20199.634.9M
UnitedHealth GroupUNH59.9660.4459.3059.724.9M
United TechnologiesUTX91.0491.6590.9291.053.98M
Berkshire HathawayBRK.B105.97107.09105.97106.123.13M
Union PacificUNP147.67148.60145.39145.671.32M
Exchange Rates of May 1st, 2013
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 97.290 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.008 CAD1 CAD = 0.992 USD
US DollarSwiss Franc1 USD = 0.927 CHF1 CHF = 1.079 USD
US DollarChinese Yuan1 USD = 6.165 CNY1 CNY = 0.162 USD
EuroJapanese Yen1 EUR = 128.260 JPY1 JPY = 0.008 EUR
EuroPound Sterling1 EUR = 0.847 GBP1 GBP = 1.180 EUR
EuroAustralian Dollar1 EUR = 1.282 AUD1 AUD = 0.780 EUR
EuroCanadian Dollar1 EUR = 1.329 CAD1 CAD = 0.752 EUR
EuroSwiss Franc1 EUR = 1.222 CHF1 CHF = 0.818 EUR
EuroChinese Yuan1 EUR = 8.132 CNY1 CNY = 0.123 EUR
Japanese YenPound Sterling1 JPY = 0.661 GBP1 GBP = 1.514 JPY
Japanese YenAustralian Dollar1 JPY = 0.999 AUD1 AUD = 1.001 JPY
Japanese YenCanadian Dollar1 JPY = 1.036 CAD1 CAD = 0.965 JPY
Japanese YenSwiss Franc1 JPY = 0.953 CHF1 CHF = 1.050 JPY
Pound SterlingAustralian Dollar1 GBP = 1.513 AUD1 AUD = 0.661 GBP
Pound SterlingCanadian Dollar1 GBP = 1.568 CAD1 CAD = 0.638 GBP
Pound SterlingSwiss Franc1 GBP = 1.442 CHF1 CHF = 0.693 GBP
Pound SterlingChinese Yuan1 GBP = 9.597 CNY1 CNY = 0.104 GBP
Australian DollarCanadian Dollar1 AUD = 1.036 CAD1 CAD = 0.965 AUD
Australian DollarSwiss Franc1 AUD = 0.953 CHF1 CHF = 1.050 AUD
Australian DollarChinese Yuan1 AUD = 6.338 CNY1 CNY = 0.158 AUD
Canadian DollarSwiss Franc1 CAD = 0.919 CHF1 CHF = 1.088 CAD
Canadian DollarChinese Yuan1 CAD = 6.118 CNY1 CNY = 0.163 CAD
Swiss FrancChinese Yuan1 CHF = 6.653 CNY1 CNY = 0.150 CHF

See what else happened on May 1st, 2013