Financial news on April 11, 2012

Business and Financial news
A Tax Code of Politics, Not Reason

There are more efficient, simpler ways to collect money, but history suggests we won’t really consider these alternatives. Read more..

By EDUARDO PORTER - The New York Times

Business Day Live | April 11, 2012

Watching for a rebound in stock markets; a Realtor’s view on proposals to forgive mortgage debt; and the billion-dollar turning point for mobile apps. Read more..

Mac William Bishop, Pedro Rosado, Nadia Sussman, Channon Hodge and Matthew Orr - The New York Times

Denny’s Uses Web Series to Speak to Young Adults

Andrew Adam Newman Advertising column on Denny's efforts to pitch to consumers aged 18 to 25; company is producing a Web series that is decidedly provocative; online advertising push is a stark contrast from the chain's traditional advertising, which is humorous but far from edgy, befitting a family restaurant. Read more..

By ANDREW ADAM NEWMAN - The New York Times

Fuel to Burn: Now What?

Unexpected abundance of domestic energy supplies in the United States has upended calculations about the country's future, including its foreign policy and economy; cheaper domestic fuel could reduce manufacturing costs, improve the auto market and provide new jobs, while posing unknown environmental challenges and dampening enthusiasm for alternative energy. Read more..

By JAD MOUAWAD - The New York Times

Growth Is Expected in G.D.P. as Wholesale Inventories Rise

Analysts raise their estimates for first-quarter economic growth as the Commerce Department reports a solid rise in wholesale inventories in February; total wholesale inventories increased 0.9 percent to a record $478.9 billion, after an upward revision of 0.6 percent in January. Read more..

By REUTERS - The New York Times

I.B.M. Aims to Sharply Simplify Corporate Data Center Technology

IBM is introducing PureSystems in an effort to simplify corporate data centers, long considered the laggards of information technology; initiative will sell bundles of server hardware and software packaged in simplified systems with setup and maintenance automated by intelligent software; so-called expert integrated systems are the result of a $2 billion investment in research and development and acquisitions over the last four years. Read more..

By STEVE LOHR - The New York Times

Renewable Sources of Power Survive, but in a Patchwork

Plummeting natural gas prices have diminished public support and federal funding for alternative energies like wind and solar power, but a number of projects continue to move forward. Read more..

By DIANE CARDWELL - The New York Times

St. Jude Is Rebuffed Over Report on Device

HeartRhythm medical journal rejects St Jude Medical's request that it retract a published report that found that 20 deaths were linked to failures of a heart device component made by the company; setback for St Jude sends its stock falling further, amid reports involving other failures of the same component, a lead connecting a defibrillator to a patient's heart. Read more..

By BARRY MEIER - The New York Times

Subtly Selling ‘Green’ to the Flat-Screen Crowd

Energy-efficient flat screen televisions, along with other appliances, are being marketed for their cutting-edge technology rather than their merit as green products; advertisers shifted their focus after appeals to environmentalism failed to take hold among consumers. Read more..

By BRYN NELSON - The New York Times

Why Decades Can Pass Between Idea and ‘Eureka!’

Energy innovation requires uniquely long-term thinking, taking decades to impact the marketplace after a significant investment in initial capital; hydraulic fracturing was in development for more than 20 years before it revolutionized the American energy market with cheap natural gas. Read more..

By MATTHEW L. WALD - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 30.43 30.53 30.23 30.35 43M
Cisco Systems CSCO 19.68 20.04 19.62 20.02 40.6M
General Electric GE 19.02 19.15 18.98 19.01 37.8M
Pfizer PFE 22.07 22.16 21.92 21.95 37.6M
JPMorgan Chase JPM 43.59 44.21 43.57 44.01 32.1M
Oracle Corp. ORCL 28.49 28.55 28.04 28.14 30.4M
Wells Fargo & Co. WFC 33.51 33.91 33.42 33.62 29.7M
Intel INTC 27.68 28.00 27.63 27.85 26.7M
Apple AAPL 636.20 636.87 623.34 626.20 24.9M
AT&T Inc. T 30.39 30.51 30.27 30.45 21.6M
HP Inc. HPQ 23.51 23.58 23.24 23.41 16.6M
ExxonMobil XOM 83.11 83.35 82.15 82.70 15.9M
Abbott Laboratories ABT 59.85 60.41 59.59 59.66 14.1M
Verizon Communications VZ 37.04 37.46 37.00 37.38 12.5M
ConocoPhillips COP 74.39 74.78 73.42 73.55 12.1M
Altria MO 31.17 31.50 31.13 31.21 10.9M
Merck MRK 38.61 38.70 38.40 38.48 10.7M
Johnson & Johnson JNJ 64.69 64.69 63.96 64.13 10.4M
Bristol-Myers Squibb BMY 32.64 32.78 32.52 32.59 9.8M
General Motors GM 23.84 24.28 23.82 24.03 9.26M
Comcast CMCSA 28.87 29.08 28.73 28.98 9.12M
Schlumberger SLB 68.74 68.90 68.00 68.12 8.97M
Chevron CVX 102.31 102.45 100.78 100.95 8.57M
Wal-Mart Stores WMT 60.29 60.29 59.66 59.80 7.75M
Home Depot HD 49.68 49.94 49.61 49.75 7.63M
Procter & Gamble PG 66.74 66.92 66.32 66.44 7.59M
Gilead Sciences GILD 46.14 46.50 45.33 45.42 6.58M
UnitedHealth Group UNH 58.08 58.54 57.85 58.02 6.5M
McDonald's MCD 98.29 98.73 97.50 98.56 6.37M
Walt Disney & Co. DIS 41.51 41.70 41.24 41.37 6.36M
Coca-Cola KO 72.43 72.47 71.84 72.12 6.01M
Pepsico PEP 65.18 65.42 64.96 65.15 5.38M
Boeing BA 71.63 72.51 71.49 71.77 5.1M
Alphabet GOOGL 633.97 636.00 631.30 635.96 4.39M
Amazon AMZN 189.63 191.97 186.79 187.97 4.34M
United Technologies UTX 79.44 80.03 79.13 79.63 3.71M
Visa V 118.02 118.95 116.97 117.38 3.54M
Berkshire Hathaway BRK.B 79.60 79.60 78.84 79.05 3.53M
International Business Machines IBM 203.99 204.32 202.46 202.58 3.37M
Amgen AMGN 66.75 67.03 66.29 66.73 3.13M
3M MMM 85.36 85.69 85.12 85.35 2.53M
Union Pacific UNP 106.34 107.19 105.62 105.80 2.25M
Exchange Rates of April 11, 2012
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 80.860 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.003 CAD 1 CAD = 0.997 USD
US Dollar Swiss Franc 1 USD = 0.917 CHF 1 CHF = 1.090 USD
US Dollar Chinese Yuan 1 USD = 6.308 CNY 1 CNY = 0.159 USD
Euro Japanese Yen 1 EUR = 106.000 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.824 GBP 1 GBP = 1.214 EUR
Euro Australian Dollar 1 EUR = 1.272 AUD 1 AUD = 0.786 EUR
Euro Canadian Dollar 1 EUR = 1.315 CAD 1 CAD = 0.760 EUR
Euro Swiss Franc 1 EUR = 1.203 CHF 1 CHF = 0.832 EUR
Euro Chinese Yuan 1 EUR = 8.268 CNY 1 CNY = 0.121 EUR
Japanese Yen Pound Sterling 1 JPY = 0.777 GBP 1 GBP = 1.287 JPY
Japanese Yen Australian Dollar 1 JPY = 1.199 AUD 1 AUD = 0.834 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.241 CAD 1 CAD = 0.806 JPY
Japanese Yen Swiss Franc 1 JPY = 1.134 CHF 1 CHF = 0.882 JPY
Pound Sterling Australian Dollar 1 GBP = 1.543 AUD 1 AUD = 0.648 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.596 CAD 1 CAD = 0.627 GBP
Pound Sterling Swiss Franc 1 GBP = 1.459 CHF 1 CHF = 0.685 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.033 CNY 1 CNY = 0.100 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.034 CAD 1 CAD = 0.967 AUD
Australian Dollar Swiss Franc 1 AUD = 0.945 CHF 1 CHF = 1.058 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.501 CNY 1 CNY = 0.154 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.914 CHF 1 CHF = 1.094 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.284 CNY 1 CNY = 0.159 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.873 CNY 1 CNY = 0.146 CHF

See what else happened on April 11, 2012