Financial news on April 11th, 2007

Business and Financial news
Euro Rises on Signs of Faster European Growth

The euro advanced to a record against the yen and a two-year high against the dollar as signs of faster economic growth in Europe prompted traders to increase their bets on higher interest rates. Read more..

By BLOOMBERG NEWS - The New York Times

French Luxury Retailer Makes a Friendly Bid for Puma

PPR bid about $7 billion for Puma, promising to keep its chief executive, Jochen Zeitz, at the helm of the company he turned around. Read more..

By G. THOMAS SIMS - The New York Times

ImClone’s Drug Fails in Pancreatic Cancer Study

ImClone Systems said yesterday that its cancer drug Erbitux failed to help pancreatic cancer patients live longer in a study, a setback for the company’s plan to expand the market for its only product. Read more..

By BLOOMBERG NEWS - The New York Times

Jailed Adviser Is Sentenced and Fined in Fraud Case

Martin A. Armstrong was sentenced to five years in prison and ordered to pay $80 million for running what prosecutors said was a $3 billion Ponzi scheme. Read more..

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

Minding the Store in a Condo

The market for retail condominiums in Manhattan has skyrocketed in recent years. More than 560,000 square feet of retail condo space sold last year, a sharp increase from 28,000 square feet in 2003. Read more..

By J. ALEX TARQUINIO - The New York Times

Profits Soar at Alcoa on Strong Demand and Higher Prices

Alcoa reported its most profitable first quarter ever as rising metal demand from China and the aerospace industry bolstered prices. Read more..

By BLOOMBERG NEWS - The New York Times

Reader Responses

Reader responses to David Leonhardt’s column on renting versus buying a home. Read more..

By DAVID LEONHARDT - The New York Times

Take-Two’s Mr. Fix-It Inherits a Handful

Strauss Zelnick has taken on risky corporate restructurings before, but he says none have been as complex as at Take-Two Interactive Software, where he was named chairman two weeks ago. Read more..

By JEREMY W. PETERS - The New York Times

Tied to a City, a Farmers’ Market Proves Hardy

Until last summer, a 136-year-old building had been an eyesore at the center of Portland, Me. You would never know it now. Read more..

By KEITH SCHNEIDER - The New York Times

Where on the Web Is Matt Lauer?

As NBC’s “Today” prepares for its “Where in the World Is Matt Lauer?” feature, Hyundai will sponsor a Web site following the host. Read more..

By STUART ELLIOTT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO25.9726.1425.6425.7942.7M
General ElectricGE35.0035.2034.8634.9530.5M
Oracle Corp.ORCL18.9018.9118.4618.5929.9M
Wal-Mart StoresWMT47.9548.1147.0647.2717.7M
Wells Fargo & Co.WFC34.4334.5434.1734.1716.3M
Home DepotHD38.1238.3337.7737.9715.9M
AT&T Inc.T39.3539.4438.8338.9414.9M
Johnson & JohnsonJNJ61.5262.2961.5061.8914.7M
Verizon CommunicationsVZ37.8137.8537.1637.3813.6M
Abbott LaboratoriesABT56.7557.5156.1757.0013.6M
Walt Disney & Co.DIS34.9435.0834.3434.5912M
JPMorgan ChaseJPM49.1049.3448.9849.1512M
HP Inc.HPQ40.8040.8940.3240.7310.3M
UnitedHealth GroupUNH53.8754.2152.9053.1410.2M
Procter & GamblePG63.2163.2262.7563.049.1M
Bristol-Myers SquibbBMY27.7927.9027.3827.527.81M
United TechnologiesUTX64.4064.5063.7064.086.78M
International Business MachinesIBM96.4696.7094.9595.165.94M
Gilead SciencesGILD77.2177.5475.8576.704.22M
Union PacificUNP107.55108.00105.98106.411.4M
Berkshire HathawayBRK.B3665.003665.003641.003654.0010.3K
Exchange Rates of April 11th, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 119.330 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.139 CAD1 CAD = 0.878 USD
US DollarSwiss Franc1 USD = 1.221 CHF1 CHF = 0.819 USD
US DollarChinese Yuan1 USD = 7.727 CNY1 CNY = 0.129 USD
EuroJapanese Yen1 EUR = 160.250 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.680 GBP1 GBP = 1.471 EUR
EuroAustralian Dollar1 EUR = 1.629 AUD1 AUD = 0.614 EUR
EuroCanadian Dollar1 EUR = 1.530 CAD1 CAD = 0.654 EUR
EuroSwiss Franc1 EUR = 1.639 CHF1 CHF = 0.610 EUR
Japanese YenPound Sterling1 JPY = 0.424 GBP1 GBP = 2.358 JPY
Japanese YenAustralian Dollar1 JPY = 1.016 AUD1 AUD = 0.984 JPY
Japanese YenCanadian Dollar1 JPY = 0.954 CAD1 CAD = 1.048 JPY
Japanese YenSwiss Franc1 JPY = 1.023 CHF1 CHF = 0.978 JPY
Pound SterlingAustralian Dollar1 GBP = 2.396 AUD1 AUD = 0.417 GBP
Pound SterlingCanadian Dollar1 GBP = 2.250 CAD1 CAD = 0.444 GBP
Pound SterlingSwiss Franc1 GBP = 2.410 CHF1 CHF = 0.415 GBP
Australian DollarCanadian Dollar1 AUD = 0.939 CAD1 CAD = 1.065 AUD
Australian DollarSwiss Franc1 AUD = 1.006 CHF1 CHF = 0.994 AUD
Canadian DollarSwiss Franc1 CAD = 1.071 CHF1 CHF = 0.934 CAD

See what else happened on April 11th, 2007