Financial news on December 12, 2006

Business and Financial news
After 36 Years at Grey, Time for Life No. 2

An era in advertising will end Dec. 31 when Edward H. Meyer, 80, head of the worldwide agency now known as the Grey Global Group, retires. Read more..

By STUART ELLIOTT - The New York Times

Before Visit to China, a Rebuke

The U.S. formally accused China on Monday of failing to open the nation’s economy and crack down on piracy of foreign goods. Read more..

By STEVEN R. WEISMAN - The New York Times

Dubai Port Company Sells Its U.S. Holdings to A.I.G.

The DP World sale is the final chapter in a contentious deal that some say drove Middle East petrodollars away from the U.S. Read more..

By HEATHER TIMMONS - The New York Times

DuPont to Reduce Pesticide Output and Cut 1,500 Jobs

The DuPont Company will eliminate 1,500 agriculture jobs and cut output of herbicides and pesticides in a plan to increase spending on genetically modified seeds, the company said yesterday. Read more..

By BLOOMBERG NEWS - The New York Times

End of Year. Short on Miles. Coach Class, Here I Come.

Fewer people are rushing to cram in miles before the end of the year to upgrade to a higher frequent-flier status. Read more..

By JOE SHARKEY - The New York Times

E.P.A. Revises Its Formula to Calculate Auto Mileage

The new formula takes into account higher speeds, more aggressive driving, more air-conditioning use and other factors not in the old system. Read more..

By MATTHEW L. WALD - The New York Times

Hedge Fund Says It Will Fight Freeport Bid for Phelps Dodge

SAC Capital Advisors, a $10 billion hedge fund, has raised its stake in the Phelps Dodge Corporation to 5.1 percent and said yesterday that it would oppose a proposed takeover of the company by Freeport-McMoRan Copper and Gold. Read more..

By BLOOMBERG NEWS - The New York Times

Leonard M. Greene, 88, Inventor of Device to Warn of Plane Stalls, Dies

Leonard M. Greene was an inventor who developed an instrument to warn pilots when their planes were about to stall and who sold more than half a million of the devices over six decades. Read more..

By JEFF BAILEY - The New York Times

President Sets Retirement After 41-Year Career With Verizon

The president of Verizon Communications, Lawrence T. Babbio Jr., will step down by the end of the first quarter of 2007. Read more..

By BLOOMBERG NEWS - The New York Times

Skilling Wins Delay of Sentence

The former Enron chief executive said he was made a scapegoat and is seeking to remain free on bail while he appeals his conviction. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 29.56 29.63 29.22 29.43 68.5M
General Electric GE 35.21 35.92 35.07 35.64 49.8M
Intel INTC 20.68 20.84 20.47 20.73 45.9M
Cisco Systems CSCO 27.12 27.40 26.76 27.08 43.1M
Pfizer PFE 25.05 25.23 24.96 25.17 42.2M
Oracle Corp. ORCL 18.21 18.22 17.83 17.99 41.6M
Apple AAPL 88.61 88.84 85.53 86.14 36.7M
AT&T Inc. T 35.20 35.66 35.08 35.64 22.9M
HP Inc. HPQ 40.25 40.29 39.55 39.83 20.4M
ExxonMobil XOM 75.55 76.40 75.31 76.25 18.6M
Wal-Mart Stores WMT 45.92 46.17 45.58 45.65 18M
Home Depot HD 38.70 38.73 38.18 38.70 17.8M
JPMorgan Chase JPM 47.56 47.97 47.35 47.63 16M
ConocoPhillips COP 71.00 71.07 70.12 70.60 13.6M
Verizon Communications VZ 35.61 35.85 35.40 35.76 12.8M
Wells Fargo & Co. WFC 35.32 35.47 35.19 35.34 12.8M
Merck MRK 44.26 44.45 43.40 43.62 11.4M
Comcast CMCSA 42.85 43.23 42.83 43.08 10.7M
Walt Disney & Co. DIS 34.44 34.68 34.28 34.54 9.49M
Chevron CVX 74.46 74.57 73.37 73.85 9.24M
Altria MO 85.30 85.33 84.60 84.79 9.2M
Johnson & Johnson JNJ 65.78 65.90 65.29 65.58 8.94M
Alphabet GOOGL 483.85 486.36 480.28 481.78 8.35M
Bristol-Myers Squibb BMY 25.42 25.51 25.25 25.46 8.21M
Coca-Cola KO 48.76 49.16 48.70 48.90 8.11M
International Business Machines IBM 93.60 94.85 93.30 94.12 7.78M
Abbott Laboratories ABT 47.95 48.03 47.68 47.99 7.27M
UnitedHealth Group UNH 49.91 50.37 49.76 50.04 7.12M
Schlumberger SLB 66.85 66.85 65.59 66.03 7.03M
Procter & Gamble PG 63.92 64.06 63.45 63.70 7.02M
Amgen AMGN 69.78 69.93 69.10 69.67 5.8M
McDonald's MCD 43.49 43.58 42.81 43.04 5.35M
Amazon AMZN 38.44 38.94 38.15 38.46 5.08M
United Technologies UTX 65.20 65.23 64.62 64.80 4.76M
Pepsico PEP 62.86 63.10 62.40 62.85 4.34M
3M MMM 78.84 79.40 78.23 79.01 4.01M
Boeing BA 90.03 90.75 89.75 90.31 3.63M
Gilead Sciences GILD 65.61 66.11 65.21 65.26 3.49M
Union Pacific UNP 93.70 93.96 92.00 92.81 1.56M
Berkshire Hathaway BRK.B 3595.00 3665.00 3580.00 3665.00 21.9K
Exchange Rates of December 12, 2006
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 116.760 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.152 CAD 1 CAD = 0.868 USD
US Dollar Swiss Franc 1 USD = 1.199 CHF 1 CHF = 0.834 USD
US Dollar Chinese Yuan 1 USD = 7.831 CNY 1 CNY = 0.128 USD
Euro Japanese Yen 1 EUR = 155.120 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.674 GBP 1 GBP = 1.484 EUR
Euro Australian Dollar 1 EUR = 1.688 AUD 1 AUD = 0.592 EUR
Euro Canadian Dollar 1 EUR = 1.530 CAD 1 CAD = 0.653 EUR
Euro Swiss Franc 1 EUR = 1.593 CHF 1 CHF = 0.628 EUR
Japanese Yen Pound Sterling 1 JPY = 0.434 GBP 1 GBP = 2.304 JPY
Japanese Yen Australian Dollar 1 JPY = 1.088 AUD 1 AUD = 0.919 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.986 CAD 1 CAD = 1.014 JPY
Japanese Yen Swiss Franc 1 JPY = 1.027 CHF 1 CHF = 0.974 JPY
Pound Sterling Australian Dollar 1 GBP = 2.505 AUD 1 AUD = 0.399 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.271 CAD 1 CAD = 0.440 GBP
Pound Sterling Swiss Franc 1 GBP = 2.364 CHF 1 CHF = 0.423 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.906 CAD 1 CAD = 1.104 AUD
Australian Dollar Swiss Franc 1 AUD = 0.943 CHF 1 CHF = 1.060 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.041 CHF 1 CHF = 0.961 CAD

See what else happened on December 12, 2006