Financial news on March 13, 2006

Business and Financial news
Barron’s Roundup: Funds Get Frisky, Drunk on NYSE

There may be more merger action in the mutual-fund sector, as banks, brokerages and insurers decide to sell out rather than run the risk of seeming to favor their own funds. That’s the theory set out by Lawrence Strauss of Barron’s, who makes the case that the Merrill Lynch–BlackRock deal was hardly the last of […] Read more..

By DEALBOOK - The New York Times

Bell Mergers Give Cable Companies Even More to Worry About

In the chess game between the cable companies and their nemeses, the Bell phone companies, the Bells may be gaining ground. Phone mergers – including AT&T‘s recent proposal to take over BellSouth – could give the Bells more power to cut prices, move faster into television and expand their advantage in the wireless market. For […] Read more..

By WRITER - The New York Times

Blackstone, KKR May Team Up for Portugal Telecom Bid

A group of buyout firms including Blackstone Group and Kohlberg Kravis Roberts & Co. may team with Portuguese entrepreneur Miguel Pais do Amaral in a bid for the country’s biggest telephone company, said people with knowledge of the talks. Lisbon-based Portugal Telecom SPGS last month received an unsolicited 10.7 billion-euro ($12.7 billion) offer from Sonaecom […] Read more..

By WRITER - The New York Times

Capital One to Acquire North Fork for $14.6 Billion

Capital One Financial has agreed to acquire the North Fork Bancorporation for about $14.6 billion in cash and stock. Shares of North Fork shot up more than 16 percent in early trading onMonday. The acquisition, which was announced on Monday morning, would give Capital One a strong retail banking foothold in the Northeast as growth […] Read more..

By DEALBOOK - The New York Times

Denver Law Firm in Merger Talks

One of Denver’s largest law firms is in merger talks that could add nearly 80 lawyers to its rolls. Sherman & Howard is negotiating with Phoenix-based Jennings Strouss & Salmon, which has 77 lawyers, primarily in Phoenix. Sherman & Howard has 130 lawyers in Denver, making it the second-largest firm based here, tied with Holme […] Read more..

By WRITER - The New York Times

Does Majority Rule? This Week’s Proxy Votes Will Decide

The week ahead will bring three closely watched votes on what may the hottest corporate-governance issue out there: majority election proposals. Shareholders of Analog Devices, Ciena and Hewlett-Packard will cast their ballots on proposals that would require company directors to get a majority of votes in their favor — as opposed to just a plurality […] Read more..

By DEALBOOK - The New York Times

For Huizenga Protege, ‘Blank Check’ Buys a Lot of Smoothies

An acquisition vehicle led by Wayne Huizenga’s longtime lieutenant has agreed to merge with Jamba Juice, a privately held chain that serves fruity shakes to the health-conscious set. The unusual deal will combine Jamba Juice with Steve Berrard’s publicly traded Services Acquisition Corporation, a so-called blank check company formed last year for the sole purpose […] Read more..

By DEALBOOK - The New York Times

Searching the World, From Jersey City

Jersey City is the home of Accoona.com, the latest entry on the list of would-be search engine kings. Read more..

By BOB TEDESCHI - The New York Times

State-Run Indian Lender Plans IPO

Power Finance Corporation, a state-run Indian lender to electricity utilities, plans to sell shares in an initial public offering because it wants to increase lending, Chairman and Managing Director V.K. Garg said. The loan provider aims to sell 150 million shares to local and overseas investors by mid-May, Garg said in a telephone interview from […] Read more..

By WRITER - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 19.76 20.50 19.69 19.73 80.5M
Cisco Systems CSCO 20.89 21.15 20.81 20.86 46.5M
Microsoft MSFT 26.98 27.29 26.94 27.11 40.3M
Apple AAPL 65.61 66.28 64.79 65.68 30.8M
Alphabet GOOGL 339.72 346.10 335.45 337.06 27.3M
Pfizer PFE 26.00 26.04 25.87 25.97 25.6M
Oracle Corp. ORCL 12.89 12.95 12.85 12.90 24.3M
AT&T Inc. T 27.24 27.39 27.07 27.12 21.3M
General Electric GE 33.66 33.73 33.43 33.67 19.5M
ExxonMobil XOM 59.68 59.96 59.45 59.64 16.9M
Abbott Laboratories ABT 44.78 45.58 44.65 44.93 16.8M
UnitedHealth Group UNH 56.06 56.10 53.85 55.73 12.4M
JPMorgan Chase JPM 41.45 41.48 40.98 41.06 10.6M
Chevron CVX 54.53 55.38 54.26 55.18 10.6M
Walt Disney & Co. DIS 28.27 28.62 28.16 28.56 10.6M
ConocoPhillips COP 59.37 60.17 59.29 60.16 10.3M
Verizon Communications VZ 34.38 34.66 34.13 34.32 9.78M
Wal-Mart Stores WMT 45.35 45.46 45.22 45.27 8.84M
Comcast CMCSA 26.17 26.43 26.00 26.10 8.57M
Merck MRK 35.09 35.35 34.75 35.20 8.15M
HP Inc. HPQ 33.08 33.28 32.75 33.22 6.95M
Bristol-Myers Squibb BMY 22.91 22.96 22.74 22.94 6.93M
Coca-Cola KO 42.61 42.80 42.41 42.49 6.75M
Johnson & Johnson JNJ 59.07 59.37 59.00 59.08 6.22M
McDonald's MCD 34.53 34.70 34.11 34.32 6.12M
Amgen AMGN 73.50 73.94 73.29 73.59 6M
Procter & Gamble PG 62.11 62.50 61.80 61.98 5.96M
Schlumberger SLB 117.45 117.81 115.80 117.07 5.87M
Altria MO 73.31 73.55 73.10 73.50 5.61M
Home Depot HD 41.08 41.53 40.85 41.25 5.19M
International Business Machines IBM 81.56 82.40 81.45 81.93 4.57M
Pepsico PEP 60.00 60.55 59.90 60.49 4.22M
Boeing BA 75.18 75.90 74.50 74.84 3.66M
Amazon AMZN 36.29 36.63 35.97 36.19 3.28M
Wells Fargo & Co. WFC 64.46 64.62 64.16 64.36 2.9M
Gilead Sciences GILD 61.10 61.92 60.84 61.49 2.4M
United Technologies UTX 58.06 58.29 57.86 58.00 2.3M
3M MMM 72.17 72.52 71.88 72.09 2M
Union Pacific UNP 86.01 86.86 85.29 85.70 902K
Berkshire Hathaway BRK.B 2995.00 3012.00 2995.00 3005.00 15.3K
Exchange Rates of March 13, 2006
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 118.800 JPY 1 JPY = 0.008 USD
US Dollar Canadian Dollar 1 USD = 1.158 CAD 1 CAD = 0.864 USD
US Dollar Swiss Franc 1 USD = 1.312 CHF 1 CHF = 0.762 USD
US Dollar Chinese Yuan 1 USD = 8.049 CNY 1 CNY = 0.124 USD
Euro Japanese Yen 1 EUR = 142.050 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.690 GBP 1 GBP = 1.450 EUR
Euro Australian Dollar 1 EUR = 1.616 AUD 1 AUD = 0.619 EUR
Euro Canadian Dollar 1 EUR = 1.384 CAD 1 CAD = 0.723 EUR
Euro Swiss Franc 1 EUR = 1.569 CHF 1 CHF = 0.637 EUR
Pound Sterling Australian Dollar 1 GBP = 2.351 AUD 1 AUD = 0.425 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.006 CAD 1 CAD = 0.499 GBP
Pound Sterling Swiss Franc 1 GBP = 2.274 CHF 1 CHF = 0.440 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.853 CAD 1 CAD = 1.173 AUD
Australian Dollar Swiss Franc 1 AUD = 0.967 CHF 1 CHF = 1.035 AUD

See what else happened on March 13, 2006