Financial news on April 5th, 2012

Business and Financial news
2 Underdogs Produce, but in Time?

David Pogue State of the Art column observes that Nokia and Microsoft have joined forces to make the Lumia 900 a top-of-the-line device; holds the smartphone is beautiful, fast and powerful; points out, however, that does not necessarily mean that people will flock to it. Read more..

By DAVID POGUE - The New York Times

A Rose-Colored View May Come Standard

Google provided a first look at its Internet-connected glasses, which place a small see-through display screen above a person’s eye. Read more..

By NICK BILTON - The New York Times

Business Day Live | April 5, 2012

Why markets reacted negatively to comments by the Federal Reserve; Kevin Roose lives like a billionaire for a day; and heirs to old money are plunging into technology. Read more..

Mac William Bishop, Nadia Sussman, Pedro Rosado, Erik Olsen and Matthew Orr - The New York Times

Electronic Dance Concerts Turn Up Volume, Tempting Investors

The music’s concerts and festivals now have profit margins that Wall Street is starting to notice, but determining the value of the promoting companies and the risks associated with live music events pose challenges for investors. Read more..

By BEN SISARIO - The New York Times

Engineers Convene to Seek Ways to Strengthen New York State’s Power Grid

More than 500 engineers attend conference to seek ways to strengthen New York State's power grid; state is awash in generating capacity because the recession has stunted industrial demand, but the energy infrastructure is ailing; 42 percent of the state's power plants are more than 40 years old, and 22 percent are more than 50 years old. Read more..

By MATTHEW L. WALD - The New York Times

Huffington Gains More Control in AOL Revamping

One year after its acquisition by AOL, The Huffington Post has become a source of growth with several business units now in Arianna Huffington’s hands, a move intended to add sections and products faster. Read more..

By BRIAN STELTER - The New York Times

New Balance Celebrates Its Homemade Footprint

Jane L Levere Advertising column highlights New Balance's campaign for the 30th anniversary model of its 990 running shoe. Read more..

By JANE L. LEVERE - The New York Times

Refinery Gets a Look From Delta, Perplexing Analysts

Delta Air Lines emerges as a possible buyer for a ConocoPhillips refinery in Trainer, Pa, as a means of cutting its jet fuel costs; analysts note that running an oil refinery can be even tougher than running an airline; refining industry has mostly been unprofitable in recent years, and its hardships on the East Coast are especially pronounced. Read more..

By JAD MOUAWAD - The New York Times

Spain Jolts Euro Zone Back on Alert

Spain sells 2.6 billion euros ($3.4 billion) worth of bonds, near the bottom of its targeted range, unsettling financial markets; European Central Bank cites concerns about a slowdown in the economy and a possible resurgence of the sovereign debt crisis. Read more..


Telecom Italia May Sell Fixed-Line Network

Telecom Italia says it might sell its fixed-line phone network as it looks to reduce its debt burden and stem losses; reports a 2011 loss of 4.7 billion euros ($6.2 billion) after writing down the value of its domestic business by 7.3 billion euros ($9.7 billion). Read more..

By KEVIN J. O'BRIEN - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Oracle Corp.ORCL29.1529.6329.1329.5643.3M
General ElectricGE19.6119.7119.4619.4940M
Cisco SystemsCSCO20.1820.3720.0720.2230.6M
JPMorgan ChaseJPM44.1344.7343.8144.3428.8M
AT&T Inc.T31.0931.1630.7530.9421.5M
Wells Fargo & Co.WFC33.7834.0233.6333.7319.6M
HP Inc.HPQ23.1523.3723.0823.1114.7M
Abbott LaboratoriesABT61.3961.4961.1061.3012.3M
Verizon CommunicationsVZ37.9137.9237.5237.6611.7M
Home DepotHD49.6950.6749.5650.629.56M
Gilead SciencesGILD47.0347.8847.0047.768.27M
General MotorsGM24.9925.1824.6124.818.21M
Johnson & JohnsonJNJ65.2665.3865.0965.347.92M
Procter & GamblePG66.9267.4866.8367.317.7M
Wal-Mart StoresWMT60.2060.6960.0760.676.53M
Walt Disney & Co.DIS42.8443.1842.6843.086.34M
Bristol-Myers SquibbBMY33.5533.7133.4533.686M
UnitedHealth GroupUNH58.8259.1958.6059.014.83M
International Business MachinesIBM205.15205.68204.46205.473.81M
Berkshire HathawayBRK.B80.8181.2880.6580.912.83M
United TechnologiesUTX81.5582.1681.3881.602.48M
Union PacificUNP107.85109.32107.56108.652.26M
Exchange Rates of April 5th, 2012
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 82.350 JPY1 JPY = 0.012 USD
US DollarCanadian Dollar1 USD = 0.993 CAD1 CAD = 1.007 USD
US DollarSwiss Franc1 USD = 0.920 CHF1 CHF = 1.087 USD
US DollarChinese Yuan1 USD = 6.314 CNY1 CNY = 0.158 USD
EuroJapanese Yen1 EUR = 107.610 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.825 GBP1 GBP = 1.212 EUR
EuroAustralian Dollar1 EUR = 1.267 AUD1 AUD = 0.789 EUR
EuroCanadian Dollar1 EUR = 1.297 CAD1 CAD = 0.771 EUR
EuroSwiss Franc1 EUR = 1.202 CHF1 CHF = 0.832 EUR
EuroChinese Yuan1 EUR = 8.247 CNY1 CNY = 0.121 EUR
Japanese YenPound Sterling1 JPY = 0.767 GBP1 GBP = 1.304 JPY
Japanese YenAustralian Dollar1 JPY = 1.178 AUD1 AUD = 0.849 JPY
Japanese YenCanadian Dollar1 JPY = 1.205 CAD1 CAD = 0.830 JPY
Japanese YenSwiss Franc1 JPY = 1.117 CHF1 CHF = 0.896 JPY
Pound SterlingAustralian Dollar1 GBP = 1.535 AUD1 AUD = 0.651 GBP
Pound SterlingCanadian Dollar1 GBP = 1.571 CAD1 CAD = 0.636 GBP
Pound SterlingSwiss Franc1 GBP = 1.455 CHF1 CHF = 0.687 GBP
Pound SterlingChinese Yuan1 GBP = 9.994 CNY1 CNY = 0.100 GBP
Australian DollarCanadian Dollar1 AUD = 1.023 CAD1 CAD = 0.977 AUD
Australian DollarSwiss Franc1 AUD = 0.947 CHF1 CHF = 1.056 AUD
Australian DollarChinese Yuan1 AUD = 6.508 CNY1 CNY = 0.154 AUD
Canadian DollarSwiss Franc1 CAD = 0.926 CHF1 CHF = 1.080 CAD
Canadian DollarChinese Yuan1 CAD = 6.358 CNY1 CNY = 0.157 CAD
Swiss FrancChinese Yuan1 CHF = 6.863 CNY1 CNY = 0.146 CHF

See what else happened on April 5th, 2012