Financial news on June 06, 2008

Business and Financial news
About 1 in 11 Mortgageholders Face Loan Problems

The default rate is rising even among homeowners with good credit who do not hold risky subprime loans. Read more..

By VIKAS BAJAJ and MICHAEL M. GRYNBAUM - The New York Times

Big Airlines in a Rush to Go Small

With fuel prices almost double what they were a year ago, airlines have switched strategies from expansion to downsizing. Read more..

By MICHELINE MAYNARD - The New York Times

Bosses May Have Hastened Chief’s Departure at HarperCollins

Accounts differ on the timeline of events that led Jane Friedman, the chief executive of HarperCollins Publishers Worldwide, to unexpectedly announce her resignation on Wednesday. Read more..

By MOTOKO RICH - The New York Times

Europe Warns Germany About Shielding VW

The European Commission threatened to take Germany to court for failing to revoke a law shielding Volkswagen from a hostile takeover. Read more..

By JAMES KANTER - The New York Times

Former Chief of Broadcom Is Indicted

Henry T. Nicholas III faces fraud, conspiracy and drug charges. He is also accused of running a stock options backdating scheme. Read more..

By LAURA M. HOLSON - The New York Times

Mergers Accelerate as Telecoms Seek Growth

Verizon Wireless announced it would buy Alltell to create the largest cellphone operator in the United States, while in Europe, a bid was made to create the world’s fourth-largest mobile operator. Read more..

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

Sales Double for Game Maker

Take-Two Interactive Software, publisher of the Grand Theft Auto video game franchise, recorded sales of $540 million for its second quarter. Read more..

By MATT RICHTEL - The New York Times

Trail of Bad Loans Leads to the Couple Next Door

Creative financing led to a string of foreclosures for a Florida couple who had turned speculators. Read more..

By FLOYD NORRIS - The New York Times

Verizon Agrees to Buy Alltel for $28.1 Billion

The deal catapults Verizon’s wireless business ahead of AT&T Wireless, which falls to No. 2, followed by Sprint Nextel and Deutsche Telecom’s T-Mobile. Read more..

By ANDREW ROSS SORKIN And LAURA M. HOLSON - The New York Times

Zagat Family Says Company Is No Longer for Sale

Zagat Survey ended its search for a buyer, saying it would seek to “grow organically” instead. Read more..

By MICHAEL J. de la MERCED - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Pfizer PFE 18.55 18.60 17.95 17.96 95.8M
Microsoft MSFT 27.98 28.17 27.49 27.49 78.5M
Intel INTC 23.66 23.70 22.90 22.90 69.9M
General Electric GE 30.86 30.86 30.00 30.02 69.5M
Cisco Systems CSCO 27.32 27.45 26.50 26.54 68.9M
Wells Fargo & Co. WFC 26.80 26.82 25.32 25.42 57.7M
Oracle Corp. ORCL 22.99 23.06 22.46 22.46 41.3M
JPMorgan Chase JPM 41.79 41.79 39.95 40.09 39.9M
Apple AAPL 188.00 189.95 185.55 185.64 34.5M
ExxonMobil XOM 89.79 90.50 86.67 86.79 34.3M
AT&T Inc. T 39.06 39.33 38.13 38.21 27M
ConocoPhillips COP 94.10 95.74 92.05 92.17 27M
Wal-Mart Stores WMT 59.33 59.57 58.33 58.37 23.5M
Merck MRK 38.59 38.66 37.43 37.49 22M
Comcast CMCSA 22.51 22.64 21.94 21.94 21.6M
Verizon Communications VZ 38.71 38.89 38.00 38.23 20M
Home Depot HD 27.45 27.69 27.10 27.18 19.4M
Chevron CVX 100.61 102.15 98.36 99.50 18.6M
Altria MO 22.10 22.31 21.52 21.53 16.9M
HP Inc. HPQ 48.09 48.45 47.50 47.63 16.8M
Walt Disney & Co. DIS 34.14 34.30 32.97 33.01 16.6M
Procter & Gamble PG 66.35 66.38 65.26 65.37 16.4M
Johnson & Johnson JNJ 66.58 66.76 65.68 65.76 14.3M
Schlumberger SLB 105.67 108.58 101.84 101.94 13.1M
Boeing BA 76.54 76.57 73.00 73.16 12.8M
Coca-Cola KO 56.84 57.11 55.74 55.80 12.5M
Bristol-Myers Squibb BMY 21.53 21.53 20.86 20.88 12.4M
UnitedHealth Group UNH 33.72 33.89 32.99 33.03 12.4M
Abbott Laboratories ABT 55.58 55.63 54.70 54.76 12.4M
United Technologies UTX 69.43 69.43 66.93 67.01 11.8M
Visa V 85.90 85.99 83.55 83.65 10.4M
Pepsico PEP 66.87 67.04 65.45 65.52 9.73M
Alphabet GOOGL 579.89 580.72 567.00 567.00 9.46M
International Business Machines IBM 127.60 128.14 124.74 124.94 7.89M
Amazon AMZN 83.19 83.64 80.56 80.63 7.84M
Amgen AMGN 44.78 45.08 44.21 44.24 7.83M
McDonald's MCD 57.68 57.82 56.84 56.95 7.37M
Gilead Sciences GILD 56.33 56.62 54.75 54.76 6.72M
3M MMM 76.73 77.02 74.85 74.86 5.98M
Union Pacific UNP 81.18 81.18 77.90 77.95 5.88M
Berkshire Hathaway BRK.B 4330.00 4342.00 4280.00 4286.00 15.5K
Exchange Rates of June 06, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 104.910 JPY 1 JPY = 0.010 USD
US Dollar Canadian Dollar 1 USD = 1.019 CAD 1 CAD = 0.981 USD
US Dollar Swiss Franc 1 USD = 1.018 CHF 1 CHF = 0.982 USD
US Dollar Chinese Yuan 1 USD = 6.923 CNY 1 CNY = 0.144 USD
Euro Japanese Yen 1 EUR = 165.530 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.800 GBP 1 GBP = 1.249 EUR
Euro Australian Dollar 1 EUR = 1.639 AUD 1 AUD = 0.610 EUR
Euro Canadian Dollar 1 EUR = 1.608 CAD 1 CAD = 0.622 EUR
Euro Swiss Franc 1 EUR = 1.607 CHF 1 CHF = 0.622 EUR
Japanese Yen Pound Sterling 1 JPY = 0.483 GBP 1 GBP = 2.069 JPY
Japanese Yen Australian Dollar 1 JPY = 0.990 AUD 1 AUD = 1.011 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.971 CAD 1 CAD = 1.030 JPY
Japanese Yen Swiss Franc 1 JPY = 0.971 CHF 1 CHF = 1.030 JPY
Pound Sterling Australian Dollar 1 GBP = 2.047 AUD 1 AUD = 0.488 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.009 CAD 1 CAD = 0.498 GBP
Pound Sterling Swiss Franc 1 GBP = 2.007 CHF 1 CHF = 0.498 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.981 CAD 1 CAD = 1.020 AUD
Australian Dollar Swiss Franc 1 AUD = 0.980 CHF 1 CHF = 1.020 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.999 CHF 1 CHF = 1.001 CAD

See what else happened on June 06, 2008