Financial news on October 12, 2011

Business and Financial news
As Greece Avoids a Default, Recapitalization Plans Emerge for European Banks

France unveils details of its recapitalization plan for its banks while the European Commission prepares to makes its own proposals public; plans emerge as Greece clears a major hurdle that will allow it to avoid default on its debt. Read more..

By STEPHEN CASTLE and NIKI KITSANTONIS - The New York Times

Fuel for the City That Never Sleeps

Growing demand and sinking rents have contributed to the rise in high-end coffee shops in New York. Read more..

By ALISON GREGOR - The New York Times

Ignorance Stifles Innovation in Solving Energy Problems

In the midst of intense debate over the relative merits of different energy fuels and technologies, what gets lost is a sense of proportion. Read more..

By MICHELLE MICHOT FOSS - International Herald Tribune

Markets End Mixed a Day After Rally

Dow Jones industrial average falls 16.88 points, or 0.2 percent, to 11,416.30; Standard & Poor's 500-stock index rises 0.65 of a point, to 1,195.54; Nasdaq composite index gains 16.98 points, or 0.7 percent, to 2,583.03. Read more..

By DAVID JOLLY AND SEI CHONG - The New York Times

Metal Prices Hurt Alcoa’s Third-Quarter Profit

Slowing economic growth sent prices for aluminum lower, hurting Alcoa's third-quarter profit; earnings were $172 million, or 15 cents a share, compared with $61 million, or 6 cents a share a year earlier; revenue rose 21 percent, to $6.4 billion, but was 3 percent lower than the second quarter. Read more..

By REUTERS - The New York Times

New iPhone Conceals Sheer Magic

The iPhone 4S is loaded with dazzlers: faster speed, a camera that takes crisper shots, global reach and transformative voice recognition. Read more..

By DAVID POGUE - The New York Times

Painful Job Cuts Coming to Wall St.

Reuters BreakingViews column; financial sector is expected to report weak third-quarter earnings, which will probably lead to major job cuts as the banks try to return to profitability; economic fear takes heavier toll on American oil company shares. Read more..

By AGNES T. CRANE and CHRISTOPHER SWANN - The New York Times

Putting Boxed Wine to the Taste Test

Andrew Adam Newman Advertising column; sellers of boxed wine are skipping the normal advertising methods and turning to word of mouth and taste tests. Read more..

By ANDREW ADAM NEWMAN - The New York Times

Strike Adds to Problems at Indian Auto Plant

Relations between workers and management at Maruti Suzuki’s plant in Manesar, and at other Indian automotive companies, have been marred by a series of strikes and lockouts; dispute pits the aspirations of manufacturing workers against the economic realities of a national labor glut. Read more..

By VIKAS BAJAJ and SRUTHI GOTTIPATI - The New York Times

Views Differ on Restoring Libyan Oil Output

Representatives of the Organization of the Petroleum Exporting Countries and Libya offer different outlooks about how long it might take Libya to restore its oil production to prewar levels. Issues include oil field security and repairing damaged property. Read more..

By JAMES KANTER - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 17.13 17.40 17.01 17.25 70.3M
General Electric GE 16.25 16.58 16.25 16.40 61.8M
Intel INTC 23.00 23.28 22.98 23.12 59.9M
JPMorgan Chase JPM 32.76 33.87 32.69 33.20 55.5M
Wells Fargo & Co. WFC 26.36 27.54 26.25 26.95 54.7M
Microsoft MSFT 27.18 27.31 26.90 26.96 52.5M
Pfizer PFE 18.89 19.08 18.80 18.82 38.5M
Oracle Corp. ORCL 31.37 31.55 31.08 31.11 30.3M
AT&T Inc. T 28.91 29.23 28.63 28.99 25.9M
ExxonMobil XOM 76.74 77.66 76.31 77.16 22.2M
Apple AAPL 407.34 409.25 400.14 402.19 22.2M
Wal-Mart Stores WMT 55.05 56.39 55.00 55.20 22.1M
HP Inc. HPQ 26.12 26.29 25.67 25.87 20.7M
Comcast CMCSA 23.17 23.82 22.96 23.60 19.3M
Walt Disney & Co. DIS 32.96 34.43 32.75 33.76 17.4M
General Motors GM 22.94 23.97 22.86 23.41 17.3M
Merck MRK 32.25 32.77 32.15 32.57 16.4M
Verizon Communications VZ 36.64 36.91 36.24 36.67 14.6M
Altria MO 27.98 28.14 27.76 27.77 14.2M
Pepsico PEP 62.37 63.62 62.00 62.70 13.8M
Abbott Laboratories ABT 52.27 52.86 52.18 52.33 13.4M
Bristol-Myers Squibb BMY 32.94 33.20 32.77 32.82 12.4M
Schlumberger SLB 67.36 68.62 66.82 67.31 12.1M
ConocoPhillips COP 67.71 68.52 67.19 67.85 11.1M
Home Depot HD 34.91 35.09 34.71 34.72 10.7M
Procter & Gamble PG 64.72 65.34 64.54 64.89 10.2M
Johnson & Johnson JNJ 64.13 64.69 63.87 64.33 9.38M
Chevron CVX 98.11 98.75 96.69 97.78 8.87M
Coca-Cola KO 67.25 67.97 66.79 67.48 8.77M
Berkshire Hathaway BRK.B 74.01 75.33 73.33 74.71 8.19M
McDonald's MCD 89.83 89.83 88.03 88.36 7.85M
UnitedHealth Group UNH 47.21 47.66 46.37 46.38 7.27M
Amazon AMZN 236.64 241.84 234.33 236.81 6.51M
Alphabet GOOGL 548.13 555.23 544.63 548.50 6.35M
Gilead Sciences GILD 40.18 40.66 39.73 40.29 6.31M
3M MMM 76.73 79.34 76.73 78.36 5.66M
International Business Machines IBM 186.08 188.00 185.65 186.12 5.34M
Boeing BA 64.46 65.23 64.13 64.32 5.14M
United Technologies UTX 74.29 75.00 73.83 74.24 5.1M
Amgen AMGN 57.42 57.47 56.49 56.64 4.8M
Visa V 90.98 92.33 90.71 91.17 4.77M
Union Pacific UNP 92.65 94.42 91.72 91.79 3.54M
Exchange Rates of October 12, 2011
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 77.240 JPY 1 JPY = 0.013 USD
US Dollar Canadian Dollar 1 USD = 1.018 CAD 1 CAD = 0.982 USD
US Dollar Swiss Franc 1 USD = 0.895 CHF 1 CHF = 1.117 USD
US Dollar Chinese Yuan 1 USD = 6.359 CNY 1 CNY = 0.157 USD
Euro Japanese Yen 1 EUR = 106.420 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.875 GBP 1 GBP = 1.143 EUR
Euro Australian Dollar 1 EUR = 1.359 AUD 1 AUD = 0.736 EUR
Euro Canadian Dollar 1 EUR = 1.403 CAD 1 CAD = 0.713 EUR
Euro Swiss Franc 1 EUR = 1.234 CHF 1 CHF = 0.811 EUR
Euro Chinese Yuan 1 EUR = 8.763 CNY 1 CNY = 0.114 EUR
Japanese Yen Pound Sterling 1 JPY = 0.822 GBP 1 GBP = 1.217 JPY
Japanese Yen Australian Dollar 1 JPY = 1.277 AUD 1 AUD = 0.783 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.318 CAD 1 CAD = 0.759 JPY
Japanese Yen Swiss Franc 1 JPY = 1.159 CHF 1 CHF = 0.863 JPY
Pound Sterling Australian Dollar 1 GBP = 1.553 AUD 1 AUD = 0.644 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.603 CAD 1 CAD = 0.624 GBP
Pound Sterling Swiss Franc 1 GBP = 1.409 CHF 1 CHF = 0.710 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.013 CNY 1 CNY = 0.100 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.032 CAD 1 CAD = 0.969 AUD
Australian Dollar Swiss Franc 1 AUD = 0.907 CHF 1 CHF = 1.103 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.443 CNY 1 CNY = 0.155 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.879 CHF 1 CHF = 1.138 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.244 CNY 1 CNY = 0.160 CAD
Swiss Franc Chinese Yuan 1 CHF = 7.102 CNY 1 CNY = 0.141 CHF

See what else happened on October 12, 2011