Financial news on March 10th, 2006

Business and Financial news
Brinks Sets a Dutch Auction for 10 Million Shares

Brinks, following a round of activist activity, authorized a Dutch auction self-tender offer for as many as 10 million of its shares, or about 17 percent of its outstanding stock. The tender price range will be $47.50 to $52.50 per share. There are 58.7 million outstanding shares. Go to Article from » Read more..

By WRITER - The New York Times

Citadel CEO Hedges His Bets on I.P.O. Question

Kenneth Griffin is quite happy to tell the Chicago Tribune about how well his hedge fund is doing so far this year. Well, not happy enough to disclose firm numbers — but he did say that the year-to-date performance at Citadel Investment Group‘s biggest fund, Kensington, was better than the anemic 7 percent gain it […] Read more..

By DEALBOOK - The New York Times

eBay Connects With

eBay yesterday joined five other investors to purchase a minority share in community Web site The investment will total just more than 10% equity interest in, which connects folks to affinity groups like stay-at-home moms or Chihuahua lovers for offline gatherings. Go to Article from BusinessWeek » Read more..

By WRITER - The New York Times

Entrepreneur Knocking on Door of London Exchange

The London Stock Exchange is to investigate the suitability of Robert Bonnier, the colorful entrepreneur, to head a listed company again after he announced his comeback this week. The Exchange, which regulates the AIM market, is thought to have concerns about Mr. Bonnier, who was fined 290,000 pounds by the Financial Services Authority 15 months […] Read more..

By WRITER - The New York Times

Investors Undaunted by Hedge Fund Meltdowns

Hedge fund blowups make for scary headlines but so far they have not frightened investors into looking more closely at how these slightly regulated funds operate before putting money in, new research shows. Go to Article from Reuters via CNN Money » Read more..

By WRITER - The New York Times

Nasdaq Is London Calling: L.S.E. Rebuffs $4 Billion Offer

It may be in the market for a buyer, but the London Stock Exchange is apparently not impressed with a recent approach from the Nasdaq Stock Market. The London exchange said midday Friday that it had rejected an offer from the Nasdaq to acquire it for 950 pence per share in cash, or about $4 […] Read more..

By DEALBOOK - The New York Times

Pitney Bowes Sells Lease Unit

Pitney Bowes , the largest supplier of postage meters and mailing machines in the United States, said on Thursday that it had agreed to sell its Imagistics International Inc. lease portfolio to De Lage Landen Operational Services LLC, a unit of Rabobank Group of the Netherlands, for $280 million to $290 million. Go to Article […] Read more..

By WRITER - The New York Times

S.E.C. Is Going Too Far in Corporate Crackdowns, Chamber of Commerce Says

The Securities and Exchange Commission, which gained more authority to punish corporate wrongdoing in a government crackdown on fraud four years earlier, is going too far, according to a U.S. Chamber of Commerce. The Washington, D.C.-based group, which lobbies for 3 million U.S. companies and 830 business associations, said in a report Thursday that it’s […] Read more..

By WRITER - The New York Times

Software Firm Bluespec Gets $4.5 Million in Funds

Bluespec has received $4.5 million in its second round of funding from Atlas Ventures and North Bridge Venture. To date, Bluespec, which makes electronic design automation tool sets, has received a total of $13 million in funding from Atlas Venture and North Bridge Venture Partners. Go to Article from The Boston Business Journal » Read more..

By WRITER - The New York Times

Thain Expects to Play Active Role in Exchange Consolidation

New York Stock Exchange Chief Executive John Thain said on Thursday that he aims to play an active role in the next round of consolidation in the exchange sector, and that worries about competition from overseas rivals had driven the Big Board’s move to go public. Thain’s remarks, made to a banking committee hearing in […] Read more..

By WRITER - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO20,6020,8820,3220,8248.5M
Oracle Corp.ORCL12,8813,0012,8412,9038.4M
AT&T Inc.T26,9927,2526,8127,2329.1M
General ElectricGE33,2833,6833,2633,6525.8M
JPMorgan ChaseJPM41,0641,4040,8741,1311.2M
Verizon CommunicationsVZ34,0034,2433,9034,1910.9M
Wal-Mart StoresWMT45,4445,4845,2145,339.32M
Johnson & JohnsonJNJ58,6559,0458,5059,049.24M
Procter & GamblePG61,4562,4461,4562,258.51M
Walt Disney & Co.DIS28,0428,3027,9428,168.2M
HP Inc.HPQ32,7633,1732,5232,998.04M
Abbott LaboratoriesABT43,1943,9743,0043,927M
UnitedHealth GroupUNH56,3956,7956,1556,176.98M
Home DepotHD40,6441,3340,6341,256.78M
Bristol-Myers SquibbBMY22,9023,0222,7822,915.37M
International Business MachinesIBM81,0382,2581,0381,574.79M
Wells Fargo & Co.WFC63,9064,4163,7064,253.17M
United TechnologiesUTX57,1058,2257,0657,822.91M
Gilead SciencesGILD59,0061,5059,0061,092.42M
Union PacificUNP84,8585,8484,3585,761.09M
Berkshire HathawayBRK.B2983,003000,002981,502995,0036.3K
Exchange Rates of March 10th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 119,060 JPY1 JPY = 0,008 USD
US DollarCanadian Dollar1 USD = 1,161 CAD1 CAD = 0,861 USD
US DollarSwiss Franc1 USD = 1,317 CHF1 CHF = 0,760 USD
US DollarChinese Yuan1 USD = 8,050 CNY1 CNY = 0,124 USD
EuroJapanese Yen1 EUR = 141,840 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,690 GBP1 GBP = 1,449 EUR
EuroAustralian Dollar1 EUR = 1,610 AUD1 AUD = 0,621 EUR
EuroCanadian Dollar1 EUR = 1,383 CAD1 CAD = 0,723 EUR
EuroSwiss Franc1 EUR = 1,568 CHF1 CHF = 0,638 EUR
Pound SterlingAustralian Dollar1 GBP = 2,333 AUD1 AUD = 0,429 GBP
Pound SterlingCanadian Dollar1 GBP = 2,004 CAD1 CAD = 0,499 GBP
Pound SterlingSwiss Franc1 GBP = 2,272 CHF1 CHF = 0,440 GBP
Australian DollarCanadian Dollar1 AUD = 0,849 CAD1 CAD = 1,178 AUD
Australian DollarSwiss Franc1 AUD = 0,963 CHF1 CHF = 1,039 AUD

See what else happened on March 10th, 2006