Financial news on June 15, 2007

Business and Financial news
2 Lawyers Sued by S.E.C. in Penny Stock Fraud Case

The two lawyers are charged with having played important roles in a penny stock fraud that cost investors at least $160,000 in 2005. Read more..

By FLOYD NORRIS - The New York Times

A Man Would Lose His Land While Another Would Benefit

Many here praise Mike Keiser because his golf resort created 325 full-time jobs. But Scott Cook says Mr. Keiser is going too far. Read more..

By DAVID CAY JOHNSTON - The New York Times

A Tower of Babel in Accounting?

The S.E.C. is expected to propose a rule that would allow foreign companies using international accounting standards to stop reconciling their financial statements to U.S. rules. Read more..

By FLOYD NORRIS - The New York Times

Boom Times for Banks in Venezuela

President Hugo Chávez’s economic policies have been generating a boom for those most capitalist of institutions — Venezuela’s banks. Read more..

By JENS ERIK GOULD - The New York Times

Chinese in Talks to Send Pickups to Mexico

A small Chinese automaker and its New Jersey partner are negotiating with Mexican officials to import Chinese-made pickup trucks and sport utility vehicles. Read more..

By ELISABETH MALKIN - The New York Times

In the Venture Capital World, a Helping Hand for Women and Minorities

Technology investors have done a poor job of integrating African-Americans, Hispanics and particularly minority women into their ranks. Read more..

By MATT RICHTEL - The New York Times

Rising Rates Squeeze Consumers and Companies

The fallout from rising yields on the 10-year Treasury note is likely to be felt most immediately by homeowners and people looking to buy a house. Read more..

By GRETCHEN MORGENSON and VIKAS BAJAJ - The New York Times

Russia: Economy Expanded in Quarter

Russia’s economy expanded in the first quarter at the fastest pace in six years as production of building materials increased to keep pace with a construction boom and consumer demand remained strong. Gross domestic product rose at an annual rate ... Read more..

By BLOOMBERG NEWS - The New York Times

Subprime Problems Hit Both Goldman and Bear Stearns

Turmoil in the subprime mortgage market took its toll on two Wall Street investment banks today, as second-quarter profit at Bear Stearns dropped 33 percent and Goldman Sachs squeezed out a modest 1 percent rise in profit. Read more..

By MICHAEL J. de la MERCED - The New York Times

Suitor for Midwest Air Wins Board Seats

Shareholders of the Midwest Air Group elected three directors backed by a hostile suitor, AirTran Holdings, increasing pressure on Midwest’s board to consider AirTran’s $389 million takeover offer for the airline. 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
Intel INTC 23.98 24.25 23.80 24.24 159M
Microsoft MSFT 30.86 30.88 30.43 30.49 101M
Cisco Systems CSCO 27.04 27.40 26.88 27.39 74.5M
Pfizer PFE 26.53 26.67 26.37 26.47 54M
General Electric GE 38.00 38.16 37.96 38.12 47.6M
Oracle Corp. ORCL 19.91 19.95 19.75 19.86 40.7M
Comcast CMCSA 27.88 28.33 27.80 27.99 37.3M
AT&T Inc. T 40.92 40.92 40.24 40.28 36.4M
ExxonMobil XOM 85.06 86.45 85.04 85.94 30.1M
Apple AAPL 120.62 120.67 119.86 120.50 29M
Wal-Mart Stores WMT 49.34 49.68 49.21 49.34 22.7M
Walt Disney & Co. DIS 34.10 34.75 34.00 34.40 22.3M
Bristol-Myers Squibb BMY 30.11 30.88 30.05 30.76 21.6M
Home Depot HD 38.33 38.49 37.95 37.95 21.1M
HP Inc. HPQ 45.81 46.03 45.71 45.71 18.7M
JPMorgan Chase JPM 50.64 50.99 50.42 50.56 18.4M
Procter & Gamble PG 62.66 62.80 62.25 62.57 17.2M
Johnson & Johnson JNJ 62.90 63.12 62.57 62.77 16.8M
ConocoPhillips COP 79.70 80.76 79.61 80.52 15.7M
Verizon Communications VZ 43.55 43.59 42.91 42.99 15.5M
Amgen AMGN 58.64 59.31 58.57 59.03 14.4M
Merck MRK 50.95 51.58 50.45 50.73 13.7M
Wells Fargo & Co. WFC 36.05 36.47 35.95 35.97 13.5M
Abbott Laboratories ABT 54.47 55.05 54.25 54.72 13.2M
Coca-Cola KO 51.59 52.14 51.36 51.58 13.2M
Altria MO 70.94 71.00 70.49 70.67 13M
Alphabet GOOGL 508.19 509.00 501.23 505.89 12.3M
Amazon AMZN 72.85 72.87 71.19 72.40 9.83M
Schlumberger SLB 85.30 85.35 84.48 84.60 9.58M
International Business Machines IBM 104.40 105.19 103.88 105.09 9.43M
Chevron CVX 82.86 83.60 82.76 83.17 9.43M
Pepsico PEP 67.16 67.76 66.66 66.68 7.76M
UnitedHealth Group UNH 53.12 53.25 52.78 52.90 7.57M
Boeing BA 99.70 100.00 97.93 98.15 7.18M
Gilead Sciences GILD 81.24 82.17 80.48 80.83 6.73M
McDonald's MCD 52.49 52.60 52.13 52.17 6.41M
United Technologies UTX 71.90 72.30 71.69 72.01 6.13M
3M MMM 87.58 88.49 87.52 87.67 4.52M
Union Pacific UNP 118.70 121.74 118.70 120.26 3.35M
Berkshire Hathaway BRK.B 3621.00 3635.00 3621.00 3622.00 12.5K
Exchange Rates of June 15, 2007
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 123.430 JPY 1 JPY = 0.008 USD
US Dollar Canadian Dollar 1 USD = 1.068 CAD 1 CAD = 0.937 USD
US Dollar Swiss Franc 1 USD = 1.241 CHF 1 CHF = 0.806 USD
US Dollar Chinese Yuan 1 USD = 7.625 CNY 1 CNY = 0.131 USD
Euro Japanese Yen 1 EUR = 165.270 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.677 GBP 1 GBP = 1.476 EUR
Euro Australian Dollar 1 EUR = 1.589 AUD 1 AUD = 0.629 EUR
Euro Canadian Dollar 1 EUR = 1.429 CAD 1 CAD = 0.700 EUR
Euro Swiss Franc 1 EUR = 1.662 CHF 1 CHF = 0.602 EUR
Japanese Yen Pound Sterling 1 JPY = 0.410 GBP 1 GBP = 2.441 JPY
Japanese Yen Australian Dollar 1 JPY = 0.961 AUD 1 AUD = 1.040 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.865 CAD 1 CAD = 1.157 JPY
Japanese Yen Swiss Franc 1 JPY = 1.005 CHF 1 CHF = 0.995 JPY
Pound Sterling Australian Dollar 1 GBP = 2.346 AUD 1 AUD = 0.426 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.110 CAD 1 CAD = 0.474 GBP
Pound Sterling Swiss Franc 1 GBP = 2.452 CHF 1 CHF = 0.408 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.899 CAD 1 CAD = 1.113 AUD
Australian Dollar Swiss Franc 1 AUD = 1.045 CHF 1 CHF = 0.957 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.162 CHF 1 CHF = 0.861 CAD

See what else happened on June 15, 2007