Financial news on July 9th, 2008

Business and Financial news
A Landmark Theater in Need of a Sequel

The Metro Theater, a landmark 1930s Art Deco movie theater on the Upper West Side, is for sale ... and for lease. Read more..

By J. ALEX TARQUINIO - The New York Times

Alcoa Profit Tops Estimates After Price Rise

Alcoa, the aluminum producer, reported second-quarter profit that topped analyst estimates as the company raised prices. Read more..

By BLOOMBERG NEWS - The New York Times

Bloomberg Blind Trust Could Buy Merrill´s Bloomberg Stake, Sources

The talks are still underway and a deal could still fall apart as Merrill looks to monetize its minority stake in the privately held company ahead of its second-quarter earnings call set for July 17, The Post said. Read more..

By DEALBOOK - The New York Times

Dean of Harvard Business School May Join Citigroup’s Board

Jay O. Light, an expert in asset and risk management who has led the business school for the last three years, is one of at least three candidates being recruited as directors by the embattled bank. Read more..

By ERIC DASH - The New York Times

Diamond District Tenants Worry About Spate of Building Deals

Developers’ plans to transform the area’s skyline with new spaces for residential and office use cause existing tenants to fear they will be priced out. Read more..

By TERRY PRISTIN - The New York Times

EMC Replaces the Chief and Co-Founder of VMware, Silencing Talk of a Spinoff

Diane Greene, the former chief executive and co-founder of VMware, had been pushing hard for the company to be spun off early next year. Read more..

By STEVE LOHR - The New York Times

Google Introduces a Cartoonlike Method for Talking in Chat Rooms

Google’s new online tool allows people to embody a cartoonish online avatar and have text-based conversations with other Internet users in virtual chat rooms. Read more..

By BRAD STONE - The New York Times

Mortgage Fears Cast Shadow Over 2 Agencies

After shares of Fannie Mae and Freddie Mac tumbled on Monday, renewed prospects for turmoil in the markets pushed global stocks down. Read more..

By CHARLES DUHIGG - The New York Times

Retail Chain Said to Face Bankruptcy

Steve & Barry’s, the clothing chain made famous for its cheap celebrity fashion, is preparing to file for bankruptcy protection, according to people briefed on the talks. Read more..

By ERIC WILSON - The New York Times

To Avoid Stalling Out, G.M. Plumbs Its Resources

General Motors’ cash cushion seems far from comfortable given the extraordinary drop in auto sales. Read more..

By BILL VLASIC - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO22.2222.3621.5421.5899.4M
General ElectricGE28.1428.3427.1427.1965.6M
Wells Fargo & Co.WFC24.7325.1723.5623.7152.7M
JPMorgan ChaseJPM35.7436.7534.0934.2851M
Oracle Corp.ORCL21.5021.6121.0721.1141.6M
Wal-Mart StoresWMT59.2959.2957.6057.6725.5M
AT&T Inc.T33.0533.2532.1032.1220.7M
Abbott LaboratoriesABT56.8557.9256.6656.9117.6M
UnitedHealth GroupUNH23.3523.5622.7522.9316.8M
HP Inc.HPQ43.6143.6142.1442.2116.4M
Procter & GamblePG63.9364.6363.4163.8015.6M
Bristol-Myers SquibbBMY21.9122.1721.5321.5515.1M
Johnson & JohnsonJNJ66.1567.0066.0266.1813.9M
Verizon CommunicationsVZ35.4735.9734.6134.6613.7M
Walt Disney & Co.DIS29.9629.9829.5329.5413.6M
Home DepotHD23.1123.1122.3022.3713.4M
Gilead SciencesGILD53.3255.1653.2053.8210.6M
International Business MachinesIBM124.21124.50120.40120.409.51M
United TechnologiesUTX61.9662.1861.0261.128.43M
Union PacificUNP73.9574.7470.8771.344.58M
Berkshire HathawayBRK.B3967.004000.003957.003985.0015.4K
Exchange Rates of July 9th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 106.800 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.012 CAD1 CAD = 0.989 USD
US DollarSwiss Franc1 USD = 1.029 CHF1 CHF = 0.972 USD
US DollarChinese Yuan1 USD = 6.860 CNY1 CNY = 0.146 USD
EuroJapanese Yen1 EUR = 168.070 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.793 GBP1 GBP = 1.260 EUR
EuroAustralian Dollar1 EUR = 1.647 AUD1 AUD = 0.607 EUR
EuroCanadian Dollar1 EUR = 1.592 CAD1 CAD = 0.628 EUR
EuroSwiss Franc1 EUR = 1.620 CHF1 CHF = 0.617 EUR
Japanese YenPound Sterling1 JPY = 0.472 GBP1 GBP = 2.119 JPY
Japanese YenAustralian Dollar1 JPY = 0.979 AUD1 AUD = 1.021 JPY
Japanese YenCanadian Dollar1 JPY = 0.947 CAD1 CAD = 1.056 JPY
Japanese YenSwiss Franc1 JPY = 0.963 CHF1 CHF = 1.038 JPY
Pound SterlingAustralian Dollar1 GBP = 2.076 AUD1 AUD = 0.482 GBP
Pound SterlingCanadian Dollar1 GBP = 2.007 CAD1 CAD = 0.498 GBP
Pound SterlingSwiss Franc1 GBP = 2.041 CHF1 CHF = 0.490 GBP
Australian DollarCanadian Dollar1 AUD = 0.966 CAD1 CAD = 1.035 AUD
Australian DollarSwiss Franc1 AUD = 0.983 CHF1 CHF = 1.018 AUD
Canadian DollarSwiss Franc1 CAD = 1.017 CHF1 CHF = 0.983 CAD

See what else happened on July 9th, 2008