Financial news on March 08, 2006

Business and Financial news
Appaloosa Bets on Another Bankrupt Auto-Parts Maker

Hedge fund Appaloosa Partners may be positioning itself to stir things up in the bankruptcy of auto-parts maker Dana Corporation. The fund, controlled by David Tepper, former head of junk-bond trading at Goldman Sachs, has taken a 14.8 percent equity stake in Dana, according to filings made Tuesday with the Securities and Exchange Commission. Appaloosa […] Read more..

By DEALBOOK - The New York Times

Big Board, Big Pop: NYSE Notches 25% First-Day Jump

Shares of the NYSE Group got a warm welcome Wednesday as the company formed from the New York Stock Exchange’s historic merger with Archipelago Holdings made its debut as a publicly owned enterprise. The stock ended its first session at $80, up nearly 25 percent from the previous day’s closing price for shares of Archipelago, […] Read more..

By DEALBOOK - The New York Times

Goldman Grabs UBS Real Estate Team

In a major hiring coup, Goldman Sachs has taken a team of five from UBS‘s highly regarded real estate group. The team is led by Michael Smith, who will become Goldman Sachs head of real estate investment banking and joins as a managing director. He was previously head of real estate at UBS and has […] Read more..

By WRITER - The New York Times

Judge Gives OK for Overtsock.com Suit

A California judge has allowed Overstock.com Inc. to proceed with its suit against Gradient Analytics Inc. and Rocker Partners LP, Overstock said Tuesday evening. Superior Court Judge Vernon Smith in Marin County, a San Francisco suburb, denied the defendants’ motions to dismiss the suit under the anti-strategic lawsuits against public participation (SLAPP) statute. Go to […] Read more..

By WRITER - The New York Times

Mittal to Consider Change in Voting Rights After Steel Deal

Lakshmi Mittal, the Indian steel baron bidding for the European giant Arcelor, says that his family will consider making its voting rights in Mittal Steel equivalent to those of other shareholders if its contentious takeover bid for Arcelor were successful. His remarks, the first he has made publicly on the issue, reflect a recognition that […] Read more..

By WRITER - The New York Times

Resevoir Capital Invests in New Overseas Hedge Fund

Reservoir Capital Group, a $2.8 billion hedge-fund firm, has invested $100 million in Octavian Advisors LP, a new fund that will sniff out “special situations” in overseas markets. Octavian will be run by Richard Hurowitz and Gregory Racz out of Reservoir’s Madison Avenue headquarters in New York. Go to Article from MarketWatch » Go to […] Read more..

By WRITER - The New York Times

U.S. Joins Fraud Suit Against Mario Gabelli

Mario Gabelli’s legal troubles turned more serious on Wednesday when the Justice Department said it would join a civil fraud lawsuit against the famed money manager. The five-year-old private suit alleges that Mr. Gabelli, whose investment prowess has earned him the nickname “Super Mario” on Wall Street, created sham companies to bid for cellphone licenses […] Read more..

By DEALBOOK - The New York Times

Venture Capitalist Donates $10 Million to Stanford for Corporate Governance Center

Stanford Law School said Monday that it has received a $10 million donation from legendary venture capitalist Arthur Rock and his wife, Toni Rembe, to support study of corporate governance. The donation will create the Arthur and Toni Rembe Rock Center for Corporate Governance at Stanford, and is significant because it is the first such […] Read more..

By WRITER - The New York Times

VNU Agrees to $9 Billion Sale; Is the Price Too Low?

VNU, the Dutch owner of market researcher ACNielsen and Billboard magazine, accepted a 7.5 billion-euro ($8.9 billion) offer from a group of buyout firms including Blackstone Group and Kohlberg Kravis Roberts & Company. Breakingviews notes that VNU has managed to squeeze a slightly better price from its private equity suitors than originally indicated. But, it […] Read more..

By WRITER - The New York Times

With Exchange I.P.O.s, Who Needs Dot-Com Stocks?

As shares of NYSE Group pop out of the gate, we were interested to get the following numbers from Sandler O’Neill & Partners showing the fantastic returns booked by exchanges that went public in recent years. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 20.02 20.19 19.82 20.01 82.8M
Microsoft MSFT 26.97 27.50 26.97 27.25 57.5M
Cisco Systems CSCO 20.70 20.99 20.68 20.86 54.4M
Oracle Corp. ORCL 12.80 12.95 12.75 12.86 38.9M
Pfizer PFE 26.10 26.24 25.99 26.17 25.8M
General Electric GE 33.06 33.53 33.01 33.43 25.1M
Alphabet GOOGL 353.78 360.03 350.54 353.88 23.5M
Apple AAPL 66.36 67.20 65.35 65.66 23.3M
ExxonMobil XOM 59.45 60.41 59.15 59.71 22.2M
AT&T Inc. T 26.75 26.82 26.34 26.79 21.3M
Wal-Mart Stores WMT 45.20 45.63 45.16 45.27 14.5M
Chevron CVX 55.32 55.63 54.15 55.12 14.2M
Verizon Communications VZ 33.51 33.77 33.43 33.44 11.7M
ConocoPhillips COP 59.15 60.00 58.54 59.55 11.4M
HP Inc. HPQ 32.80 33.01 32.65 32.68 10.4M
JPMorgan Chase JPM 41.49 41.74 41.20 41.60 9.15M
Procter & Gamble PG 60.25 61.33 60.23 61.07 8.68M
Home Depot HD 41.10 41.29 40.90 41.16 8.53M
Comcast CMCSA 26.67 26.99 26.51 26.72 8.14M
Johnson & Johnson JNJ 58.15 58.85 57.83 58.74 7.42M
Walt Disney & Co. DIS 27.99 28.15 27.91 28.05 7.36M
Schlumberger SLB 114.85 116.77 113.40 116.05 7.15M
Coca-Cola KO 41.72 42.51 41.70 42.23 6.92M
Abbott Laboratories ABT 43.45 43.75 43.35 43.48 6.8M
Amgen AMGN 73.36 74.69 73.27 74.20 6.76M
McDonald's MCD 34.67 34.90 34.65 34.68 6.59M
Altria MO 71.80 72.82 71.52 72.65 6.29M
Amazon AMZN 36.87 37.47 36.61 36.81 6.24M
UnitedHealth Group UNH 56.43 57.35 56.32 57.20 6.06M
Pepsico PEP 59.57 59.93 59.56 59.82 6.01M
Merck MRK 34.52 34.85 34.34 34.68 5.72M
International Business Machines IBM 80.39 81.60 80.25 81.14 5.57M
Bristol-Myers Squibb BMY 22.64 22.85 22.56 22.83 4.43M
Gilead Sciences GILD 59.18 61.30 58.40 60.78 3.76M
Wells Fargo & Co. WFC 64.30 64.83 63.87 64.41 3.31M
Boeing BA 72.85 72.86 71.90 72.82 3.17M
3M MMM 72.51 73.07 72.05 72.38 2.49M
United Technologies UTX 57.90 58.08 57.34 57.84 2.36M
Union Pacific UNP 86.68 86.69 83.50 85.09 2.16M
Berkshire Hathaway BRK.B 2944.00 2959.00 2934.00 2958.00 15.8K
Exchange Rates of March 08, 2006
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 117.810 JPY 1 JPY = 0.008 USD
US Dollar Canadian Dollar 1 USD = 1.156 CAD 1 CAD = 0.865 USD
US Dollar Swiss Franc 1 USD = 1.308 CHF 1 CHF = 0.764 USD
US Dollar Chinese Yuan 1 USD = 8.046 CNY 1 CNY = 0.124 USD
Euro Japanese Yen 1 EUR = 140.480 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.686 GBP 1 GBP = 1.458 EUR
Euro Australian Dollar 1 EUR = 1.623 AUD 1 AUD = 0.616 EUR
Euro Canadian Dollar 1 EUR = 1.379 CAD 1 CAD = 0.725 EUR
Euro Swiss Franc 1 EUR = 1.560 CHF 1 CHF = 0.641 EUR
Pound Sterling Australian Dollar 1 GBP = 2.367 AUD 1 AUD = 0.423 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.010 CAD 1 CAD = 0.498 GBP
Pound Sterling Swiss Franc 1 GBP = 2.274 CHF 1 CHF = 0.440 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.849 CAD 1 CAD = 1.178 AUD
Australian Dollar Swiss Franc 1 AUD = 0.960 CHF 1 CHF = 1.041 AUD

See what else happened on March 08, 2006