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

StockTicker symbolOpenHighLowCloseVolume
IntelINTC23.9824.2523.8024.24159M
MicrosoftMSFT30.8630.8830.4330.49101M
Cisco SystemsCSCO27.0427.4026.8827.3974.5M
PfizerPFE26.5326.6726.3726.4754M
General ElectricGE38.0038.1637.9638.1247.6M
Oracle Corp.ORCL19.9119.9519.7519.8640.7M
ComcastCMCSA27.8828.3327.8027.9937.3M
AT&T Inc.T40.9240.9240.2440.2836.4M
ExxonMobilXOM85.0686.4585.0485.9430.1M
AppleAAPL120.62120.67119.86120.5029M
Wal-Mart StoresWMT49.3449.6849.2149.3422.7M
Walt Disney & Co.DIS34.1034.7534.0034.4022.3M
Bristol-Myers SquibbBMY30.1130.8830.0530.7621.6M
Home DepotHD38.3338.4937.9537.9521.1M
HP Inc.HPQ45.8146.0345.7145.7118.7M
JPMorgan ChaseJPM50.6450.9950.4250.5618.4M
Procter & GamblePG62.6662.8062.2562.5717.2M
Johnson & JohnsonJNJ62.9063.1262.5762.7716.8M
ConocoPhillipsCOP79.7080.7679.6180.5215.7M
Verizon CommunicationsVZ43.5543.5942.9142.9915.5M
AmgenAMGN58.6459.3158.5759.0314.4M
MerckMRK50.9551.5850.4550.7313.7M
Wells Fargo & Co.WFC36.0536.4735.9535.9713.5M
Abbott LaboratoriesABT54.4755.0554.2554.7213.2M
Coca-ColaKO51.5952.1451.3651.5813.2M
AltriaMO70.9471.0070.4970.6713M
AlphabetGOOGL508.19509.00501.23505.8912.3M
AmazonAMZN72.8572.8771.1972.409.83M
SchlumbergerSLB85.3085.3584.4884.609.58M
International Business MachinesIBM104.40105.19103.88105.099.43M
ChevronCVX82.8683.6082.7683.179.43M
PepsicoPEP67.1667.7666.6666.687.76M
UnitedHealth GroupUNH53.1253.2552.7852.907.57M
BoeingBA99.70100.0097.9398.157.18M
Gilead SciencesGILD81.2482.1780.4880.836.73M
McDonald'sMCD52.4952.6052.1352.176.41M
United TechnologiesUTX71.9072.3071.6972.016.13M
3MMMM87.5888.4987.5287.674.52M
Union PacificUNP118.70121.74118.70120.263.35M
Berkshire HathawayBRK.B3621.003635.003621.003622.0012.5K
Exchange Rates of June 15, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 123.430 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.068 CAD1 CAD = 0.937 USD
US DollarSwiss Franc1 USD = 1.241 CHF1 CHF = 0.806 USD
US DollarChinese Yuan1 USD = 7.625 CNY1 CNY = 0.131 USD
EuroJapanese Yen1 EUR = 165.270 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.677 GBP1 GBP = 1.476 EUR
EuroAustralian Dollar1 EUR = 1.589 AUD1 AUD = 0.629 EUR
EuroCanadian Dollar1 EUR = 1.429 CAD1 CAD = 0.700 EUR
EuroSwiss Franc1 EUR = 1.662 CHF1 CHF = 0.602 EUR
Japanese YenPound Sterling1 JPY = 0.410 GBP1 GBP = 2.441 JPY
Japanese YenAustralian Dollar1 JPY = 0.961 AUD1 AUD = 1.040 JPY
Japanese YenCanadian Dollar1 JPY = 0.865 CAD1 CAD = 1.157 JPY
Japanese YenSwiss Franc1 JPY = 1.005 CHF1 CHF = 0.995 JPY
Pound SterlingAustralian Dollar1 GBP = 2.346 AUD1 AUD = 0.426 GBP
Pound SterlingCanadian Dollar1 GBP = 2.110 CAD1 CAD = 0.474 GBP
Pound SterlingSwiss Franc1 GBP = 2.452 CHF1 CHF = 0.408 GBP
Australian DollarCanadian Dollar1 AUD = 0.899 CAD1 CAD = 1.113 AUD
Australian DollarSwiss Franc1 AUD = 1.045 CHF1 CHF = 0.957 AUD
Canadian DollarSwiss Franc1 CAD = 1.162 CHF1 CHF = 0.861 CAD

See what else happened on June 15, 2007