Financial news on March 13, 2007

Business and Financial news
Akzo Nobel Sells Drug Unit to Schering-Plough

The $14.4 billion cash deal for Organon BioSciences, a maker of birth-control pills, took investors by surprise. Read more..

By JULIA WERDIGIER - The New York Times

Big Money Still Learning to Lobby

The hedge fund industry seems resigned to no longer be a wallflower in Washington as it joins the lobbying dance with Congress. Read more..

By JENNY ANDERSON - The New York Times

Bristol-Myers Tightens Process for Setting C.E.O. Pay

The company accepted a Harvard professor’s proposal that the chief executive’s pay be subject to approval by three-quarters of the independent directors. Read more..

By STEPHANIE SAUL - The New York Times

Buyout Firm Is Acquiring Dollar General Retail Chain

Kohlberg Kravis Roberts, the giant buyout firm, said it would pay $6.9 billion to take the discount retailer Dollar General private. Read more..

By JEREMY W. PETERS - The New York Times

Canada: Bidding for Mining Concern

Oxbow Carbon and Minerals Holdings raised its offer for the Great Lakes Carbon Income Fund to about 657 million Canadian dollars ($562 million), topping a higher bid from Rain Commodities and extending a bidding war for Great Lakes, a producer of ... Read more..

By BLOOMBERG NEWS - The New York Times

Canada: Hotel Operator Posts a Profit

Four Seasons Hotels, the world’s largest operator of luxury hotels, reported a fourth-quarter profit on higher room revenue. Four Seasons, based in Toronto, said profit was $16.9 million, or 44 cents a share, in contrast to a loss of $37.8 million... Read more..

By BLOOMBERG NEWS - The New York Times

Ford Is Selling Aston Martin

As part of its recovery plan, Ford will sell the maker of upscale British sports cars to a group of investors that includes the racing mogul David Richards. Read more..

By NICK BUNKLEY - The New York Times

Ford to Sell Aston Martin to Group Led by Ex-Racer

Ford will raise $848 million toward its overhaul plan by selling Aston Martin, its British luxury sports car brand. Read more..

By NICK BUNKLEY - The New York Times

Former Executives of Nortel Are Accused of Accounting Fraud

The executives were accused of committing accounting fraud to meet earnings forecasts and investor expectations. Read more..

By CHRISTOPHER MASON - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 27.25 27.40 26.71 26.72 75.2M
Intel INTC 19.29 19.49 19.12 19.12 66.2M
Cisco Systems CSCO 26.00 26.23 25.47 25.50 58M
General Electric GE 34.27 34.38 34.01 34.09 38.9M
Pfizer PFE 25.20 25.40 24.86 24.94 33.3M
Oracle Corp. ORCL 16.93 17.21 16.65 16.65 31.4M
Apple AAPL 89.41 90.60 88.40 88.40 31M
AT&T Inc. T 36.73 37.48 36.65 37.26 28.2M
ExxonMobil XOM 70.37 71.56 69.73 69.91 27.4M
Altria MO 84.52 85.64 84.02 84.04 26.8M
JPMorgan Chase JPM 48.45 48.50 46.56 46.70 25.3M
Wal-Mart Stores WMT 46.98 47.13 46.03 46.18 24M
Wells Fargo & Co. WFC 34.26 34.44 33.42 33.47 21.9M
Amgen AMGN 60.04 61.62 60.01 60.39 21.8M
Home Depot HD 38.00 38.13 37.25 37.35 21.4M
Comcast CMCSA 25.88 26.05 25.50 25.51 20.1M
Johnson & Johnson JNJ 61.40 61.73 60.61 60.77 17.2M
Abbott Laboratories ABT 54.00 54.71 53.97 54.11 17.1M
ConocoPhillips COP 67.10 68.44 66.56 66.59 17M
Coca-Cola KO 47.35 47.87 46.96 47.06 16.1M
Verizon Communications VZ 36.42 36.63 35.94 36.13 15.7M
HP Inc. HPQ 40.05 40.37 39.45 39.55 14M
Walt Disney & Co. DIS 33.99 34.12 33.51 33.62 13.9M
Alphabet GOOGL 450.11 451.93 442.83 443.03 12.7M
Merck MRK 43.95 44.50 43.25 43.37 12.3M
Procter & Gamble PG 61.85 62.12 61.14 61.17 11.3M
UnitedHealth Group UNH 53.27 54.02 52.97 53.00 10.3M
Chevron CVX 68.70 69.60 67.58 67.84 9.45M
Bristol-Myers Squibb BMY 27.40 27.46 26.77 26.80 9.37M
McDonald's MCD 44.62 44.63 43.43 43.48 8.61M
Schlumberger SLB 65.00 65.73 63.72 64.11 8.57M
International Business Machines IBM 93.86 94.47 92.62 92.71 7.54M
Pepsico PEP 63.49 63.70 62.01 62.16 6.44M
Boeing BA 90.90 91.10 89.45 89.45 5.25M
Amazon AMZN 38.30 38.88 37.69 37.82 5.2M
United Technologies UTX 65.20 65.20 64.28 64.31 4.1M
Gilead Sciences GILD 70.09 70.77 68.83 68.83 4.1M
3M MMM 74.75 75.50 74.65 74.77 3.05M
Union Pacific UNP 100.40 100.57 97.89 98.06 2.12M
Berkshire Hathaway BRK.B 3623.00 3628.00 3586.00 3603.00 9.8K
Exchange Rates of March 13, 2007
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 116.280 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.175 CAD 1 CAD = 0.851 USD
US Dollar Swiss Franc 1 USD = 1.218 CHF 1 CHF = 0.821 USD
US Dollar Chinese Yuan 1 USD = 7.747 CNY 1 CNY = 0.129 USD
Euro Japanese Yen 1 EUR = 153.440 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.684 GBP 1 GBP = 1.462 EUR
Euro Australian Dollar 1 EUR = 1.688 AUD 1 AUD = 0.593 EUR
Euro Canadian Dollar 1 EUR = 1.550 CAD 1 CAD = 0.645 EUR
Euro Swiss Franc 1 EUR = 1.607 CHF 1 CHF = 0.622 EUR
Japanese Yen Pound Sterling 1 JPY = 0.446 GBP 1 GBP = 2.245 JPY
Japanese Yen Australian Dollar 1 JPY = 1.099 AUD 1 AUD = 0.910 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.010 CAD 1 CAD = 0.990 JPY
Japanese Yen Swiss Franc 1 JPY = 1.047 CHF 1 CHF = 0.955 JPY
Pound Sterling Australian Dollar 1 GBP = 2.468 AUD 1 AUD = 0.405 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.267 CAD 1 CAD = 0.441 GBP
Pound Sterling Swiss Franc 1 GBP = 2.348 CHF 1 CHF = 0.426 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.918 CAD 1 CAD = 1.089 AUD
Australian Dollar Swiss Franc 1 AUD = 0.951 CHF 1 CHF = 1.051 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.036 CHF 1 CHF = 0.965 CAD

See what else happened on March 13, 2007