Financial news on October 07, 2015

Business and Financial news
Bank of America Conflict Case Could Put a Chill on Wall St.

Steven Davidoff Solomon Deal Professor column examines whether Delaware court went too far in allowing suit filed against Bank of America Merrill Lynch over its offer to represent Signet in its $1.4 billion acquisition of Zale Corporation; notes practice at issue in suit is one that is very common in industry; observes Delaware courts have issued string of opinions in which bank is often liable, no matter legal standard, which could leave investment banks vulnerable going forward. Read more..

By STEVEN DAVIDOFF SOLOMON - The New York Times

Daily Report: Microsoft Turns On the Hardware Charm

New hardware, including the $1,500 Surface Book, shows Microsoft is serious about adjusting to competition from the likes of Apple and Google. Read more..

By JOSEPH PLAMBECK - The New York Times

Dewey & LeBoeuf Jurors Tell Judge They Are Stuck After 13 Days of Deliberation

Jury in criminal trial of Dewey & LeBoeuf law firm executives Steven H Davis, Stephen DiCarmine and Joel Sanders tells New York Supreme Court Justice Robert Stolz it cannot come to unanimous agreement on majority of counts against them; executives are accused of accounting fraud that resulted in loss of tens of millions of dollars for banks and insurance firms. Read more..

By MATTHEW GOLDSTEIN - The New York Times

Disney’s Family Channel Aims Younger Than Millennials With New Name

ABC Family president Tom Ascheim announces channel will change its name to Freeform, starting in January 2016, as part of radical plan to appeal to even younger viewers than millennials; shift seeks to bridge gap between brands that cater to children and those that cater to adults in parent company Disney's offerings. Read more..

By BROOKS BARNES - The New York Times

Doubts Circle Viacom, Vanguard of Yesteryear

Industry analysts, Wall Street and current and former executives at Viacom are raising questions about health of company in light of dismal year in which shares have dropped around 37 percent and company faces declines in ratings and ad sales; widespread perception of problems at Viacom is particularly remarkable given its vanguard status in industry up until relatively recently. Read more..

By EMILY STEEL - The New York Times

Energy Department Predicts Lower Winter Fuel Bills

Energy Dept predicts Americans will spend less on energy over winter due to relatively warmer weather and lower oil and natural gas prices. Read more..

By CLIFFORD KRAUSS - The New York Times

Morgan Stanley Lures Banker to Be Co-Head of Tech M.&A.

DealBook Online; Morgan Stanley hires Anthony Armstrong, head of technology at Credit Suisse, as co-head of technology mergers and acquisitions, along with Mike Wyatt. Read more..

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

New York Attorney General Examining Private Equity Firm’s Mortgage Business

New York Atty Gen Eric T Schneiderman's office opens investigation into Caliber Home Loans, owned by Lone Star Funds, due to complaints about its mortgage servicing practices; housing advocates and lawyers have criticized how quickly Lone Star and Caliber foreclose on borrowers and refuse to negotiate with them to make loans more affordable. Read more..

By MATTHEW GOLDSTEIN and RACHEL ABRAMS - The New York Times

Volkswagen Sought a Green Seal for Its Diesel Cars

Environmental Protection Agency officials say Volkswagen's boycott of Pres Obama's July 2011 announcement of fuel economy and carbon emissions targets was motivated by company's belief that its diesel engines were being overlooked as viable alternative to zero-emission electric cars and should receive special fuel economy credits; one of biggest proponents of diesel engines within company was executive Wolfgang Hatz, who has since been suspended in connection with company's emissions scandal. Read more..

By AARON M. KESSLER - The New York Times

Yum Brands Misses Forecasts, While PepsiCo Exceeds Predictions

Yum Brands reports sales rose 2 percent to $3.43 billion in quarter ending in September, but notes it earned weaker earnings than expected; profits were $421 million, compared with $404 million in year ago quarter; PepsiCo reports sales have dropped 5 percent, to $16.3 billion, in third quarter. Read more..

By STEPHANIE STROM - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 27,50 27,77 27,32 27,77 65.8M
Apple AAPL 111,74 111,77 109,41 110,78 46.8M
Intel INTC 32,00 32,42 31,72 32,32 36.9M
Cisco Systems CSCO 27,52 27,95 27,00 27,54 29.7M
Pfizer PFE 33,10 33,48 32,35 33,29 29.6M
Microsoft MSFT 47,10 47,35 45,95 46,80 27.7M
Facebook FB 93,11 93,66 91,37 92,40 24.1M
AT&T Inc. T 33,07 33,34 33,01 33,12 21M
ExxonMobil XOM 78,97 79,29 77,53 79,20 18.7M
Chevron CVX 88,25 89,51 86,28 88,12 17.7M
HP Inc. HPQ 28,11 28,26 27,75 28,01 17.2M
Oracle Corp. ORCL 37,75 37,98 37,35 37,66 16.4M
General Motors GM 32,45 33,19 32,41 33,05 15.8M
Merck MRK 50,46 51,12 49,77 50,95 14.5M
Coca-Cola KO 41,14 41,61 41,10 41,52 14.4M
Wells Fargo & Co. WFC 52,49 52,73 51,91 52,19 13.9M
ConocoPhillips COP 55,94 56,38 53,84 55,27 13.8M
JPMorgan Chase JPM 62,55 63,03 61,76 62,13 12.8M
Schlumberger SLB 75,43 76,90 74,55 75,35 12.7M
Gilead Sciences GILD 97,99 100,79 97,50 100,27 12.5M
Verizon Communications VZ 43,78 43,99 43,46 43,85 12M
Abbott Laboratories ABT 40,53 40,91 40,01 40,63 9.62M
Johnson & Johnson JNJ 94,26 95,42 93,44 94,98 9.47M
Bristol-Myers Squibb BMY 59,97 61,38 59,06 60,55 8.24M
Comcast CMCSA 59,33 60,00 59,03 59,70 8.24M
Procter & Gamble PG 73,72 73,87 73,32 73,72 8.07M
Amgen AMGN 142,65 148,31 140,24 148,05 8M
Wal-Mart Stores WMT 65,84 66,36 65,77 66,36 7.19M
Walt Disney & Co. DIS 104,49 104,59 102,66 103,39 7.01M
Pepsico PEP 97,19 98,99 97,08 98,52 6.66M
McDonald's MCD 100,75 101,90 100,34 101,77 6.53M
Visa V 72,68 73,23 72,45 73,22 6.27M
Altria MO 55,41 55,90 55,34 55,90 6M
Home Depot HD 119,20 119,84 118,49 119,65 4.81M
UnitedHealth Group UNH 116,46 116,81 114,60 116,43 4.29M
Union Pacific UNP 94,21 96,25 93,75 95,11 4.27M
Amazon AMZN 541,79 542,00 529,00 541,94 3.81M
United Technologies UTX 94,00 94,16 92,57 93,51 3.78M
Berkshire Hathaway BRK.B 132,05 133,32 131,76 132,68 3.44M
Boeing BA 135,69 137,73 135,26 137,02 3.28M
International Business Machines IBM 150,04 150,73 148,86 150,09 2.99M
Alphabet GOOGL 677,40 678,74 658,11 670,00 2.22M
3M MMM 146,74 148,54 146,13 147,54 1.96M
Exchange Rates of October 07, 2015
CurrenciesExchange Rates
US Dollar Euro 1 USD = 0,890 EUR 1 EUR = 1,124 USD
US Dollar Japanese Yen 1 USD = 119,983 JPY 1 JPY = 0,008 USD
US Dollar Pound Sterling 1 USD = 0,653 GBP 1 GBP = 1,532 USD
US Dollar Australian Dollar 1 USD = 1,388 AUD 1 AUD = 0,721 USD
US Dollar Canadian Dollar 1 USD = 1,306 CAD 1 CAD = 0,766 USD
US Dollar Swiss Franc 1 USD = 0,974 CHF 1 CHF = 1,027 USD
US Dollar Mexican Peso 1 USD = 16,644 MXN 1 MXN = 0,060 USD
US Dollar Swidish Krona 1 USD = 8,248 SEK 1 SEK = 0,121 USD
Euro Japanese Yen 1 EUR = 134,813 JPY 1 JPY = 0,007 EUR
Euro Pound Sterling 1 EUR = 0,734 GBP 1 GBP = 1,363 EUR
Euro Australian Dollar 1 EUR = 1,560 AUD 1 AUD = 0,641 EUR
Euro Canadian Dollar 1 EUR = 1,467 CAD 1 CAD = 0,682 EUR
Euro Swiss Franc 1 EUR = 1,094 CHF 1 CHF = 0,914 EUR
Euro Chinese Yuan 1 EUR = 7,143 CNY 1 CNY = 0,140 EUR
Euro Mexican Peso 1 EUR = 18,702 MXN 1 MXN = 0,053 EUR
Euro Swidish Krona 1 EUR = 9,267 SEK 1 SEK = 0,108 EUR
Japanese Yen Pound Sterling 1 JPY = 0,005 GBP 1 GBP = 185,185 JPY
Japanese Yen Australian Dollar 1 JPY = 0,012 AUD 1 AUD = 86,207 JPY
Japanese Yen Canadian Dollar 1 JPY = 0,011 CAD 1 CAD = 91,743 JPY
Japanese Yen Swiss Franc 1 JPY = 0,008 CHF 1 CHF = 123,457 JPY
Japanese Yen Chinese Yuan 1 JPY = 0,053 CNY 1 CNY = 18,904 JPY
Japanese Yen Mexican Peso 1 JPY = 0,139 MXN 1 MXN = 7,210 JPY
Japanese Yen Swidish Krona 1 JPY = 0,069 SEK 1 SEK = 14,556 JPY
Pound Sterling Australian Dollar 1 GBP = 2,126 AUD 1 AUD = 0,470 GBP
Pound Sterling Canadian Dollar 1 GBP = 2,000 CAD 1 CAD = 0,500 GBP
Pound Sterling Swiss Franc 1 GBP = 1,491 CHF 1 CHF = 0,671 GBP
Pound Sterling Chinese Yuan 1 GBP = 9,734 CNY 1 CNY = 0,103 GBP
Pound Sterling Mexican Peso 1 GBP = 25,490 MXN 1 MXN = 0,039 GBP
Pound Sterling Swidish Krona 1 GBP = 12,629 SEK 1 SEK = 0,079 GBP
Australian Dollar Canadian Dollar 1 AUD = 0,941 CAD 1 CAD = 1,063 AUD
Australian Dollar Swiss Franc 1 AUD = 0,701 CHF 1 CHF = 1,426 AUD
Australian Dollar Chinese Yuan 1 AUD = 4,579 CNY 1 CNY = 0,218 AUD
Australian Dollar Mexican Peso 1 AUD = 11,988 MXN 1 MXN = 0,083 AUD
Australian Dollar Swidish Krona 1 AUD = 5,941 SEK 1 SEK = 0,168 AUD
Canadian Dollar Swiss Franc 1 CAD = 0,746 CHF 1 CHF = 1,341 CAD
Canadian Dollar Chinese Yuan 1 CAD = 4,867 CNY 1 CNY = 0,205 CAD
Canadian Dollar Mexican Peso 1 CAD = 12,745 MXN 1 MXN = 0,078 CAD
Canadian Dollar Swidish Krona 1 CAD = 6,313 SEK 1 SEK = 0,158 CAD
Swiss Franc Chinese Yuan 1 CHF = 6,526 CNY 1 CNY = 0,153 CHF
Swiss Franc Mexican Peso 1 CHF = 17,091 MXN 1 MXN = 0,059 CHF
Swiss Franc Swidish Krona 1 CHF = 8,469 SEK 1 SEK = 0,118 CHF
Chinese Yuan Swidish Krona 1 CNY = 1,298 SEK 1 SEK = 0,770 CNY

See what else happened on October 07, 2015