Financial news on March 16, 2007

Business and Financial news
2 Financial Institutions Find Common Cause in New York

The country’s largest black financial institution is teaming up with Merrill Lynch to help the firm entree into minority neighborhoods. Read more..

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

A Lawyer Like a Hurricane

Richard F. Scruggs, the lawyer representing homeowners affected by Hurricane Katrina, has turned the case into a nightmare for the insurance industry. Read more..

By JOSEPH B. TREASTER - The New York Times

G.M. Says It Has Found Serious Flaws in Accounting

General Motors warned investors that its performance was threatened by “ineffective” controls over financial reporting. Read more..

By NICK BUNKLEY - The New York Times

History of Hernia Patch Raises Questions on Implant Recalls

Some major manufacturers, while contending that they carefully monitor product safety, are not as rigorous as they should be. Read more..

By BARRY MEIER - The New York Times

Inflation Rose in February

The report suggested that a weakening economy has not yet caused inflation to slow. Read more..

By EDUARDO PORTER - The New York Times

Japan: Nissan Plans Production Cuts

Nissan Motor plans to cut production at two plants in Japan from April 2 until the end of June because of weaker demand. Nissan will cut a shift on a production line in Kanagawa and in Tochigi Prefectures, a spokesman, Yuichi Nakagawa, said. Each ... Read more..

By BLOOMBERG NEWS - The New York Times

Judge Bars a Buyout Vote at Netsmart

A judge has barred Netsmart Technologies from polling shareholders on a $115 million offer to sell out to private equity firms. Read more..

By DOW JONES/THE ASSOCIATED PRESS - The New York Times

New Suitor for Exchange in Chicago

Intercontinental Exchange made a $10 billion bid to wrest the Chicago Board of Trade away from its planned merger partner, the Chicago Mercantile Exchange. Read more..

By ALEXEI BARRIONUEVO - The New York Times

OPEC Says It Won’t Increase Output

The decision could send oil prices into a fresh upswing this spring as demand for gasoline picks up. Read more..

By JAD MOUAWAD - The New York Times

Risky Business Still Attracts Eager Lenders

This may not be a good time to borrow money if you are a homeowner with a poor credit history, but it is a fine time if you are a company with such a problem. Read more..

By FLOYD NORRIS - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 27.35 27.48 27.20 27.33 65.1M
Intel INTC 19.15 19.22 19.05 19.15 56.5M
Cisco Systems CSCO 25.79 26.07 25.73 25.99 49.9M
Pfizer PFE 25.05 25.10 24.90 24.99 49.7M
ExxonMobil XOM 70.72 70.87 69.52 69.86 46.8M
General Electric GE 34.69 34.84 34.25 34.36 44.8M
Oracle Corp. ORCL 16.71 16.85 16.62 16.70 34.2M
AT&T Inc. T 37.11 37.31 36.75 36.98 28.3M
Altria MO 84.85 85.06 84.43 84.73 26M
JPMorgan Chase JPM 47.70 47.83 46.98 47.03 24.7M
HP Inc. HPQ 40.06 40.30 39.85 39.91 24.1M
Wells Fargo & Co. WFC 34.13 34.55 33.91 33.95 21.7M
Apple AAPL 89.54 89.99 89.32 89.59 20.4M
Abbott Laboratories ABT 53.44 53.50 52.80 52.88 20.3M
Comcast CMCSA 25.72 25.76 25.38 25.44 19.9M
Wal-Mart Stores WMT 46.21 46.80 45.75 46.21 19M
ConocoPhillips COP 66.51 66.64 65.18 65.34 19M
Home Depot HD 37.65 37.82 37.33 37.51 16.9M
Verizon Communications VZ 36.43 36.75 36.12 36.32 16.3M
Johnson & Johnson JNJ 60.65 60.88 60.25 60.51 15.6M
Bristol-Myers Squibb BMY 27.12 27.13 26.41 26.82 15.3M
Amgen AMGN 60.02 60.46 59.21 59.30 14.4M
Coca-Cola KO 47.25 47.31 46.82 47.21 14.1M
Walt Disney & Co. DIS 33.85 34.10 33.50 33.61 13.8M
Chevron CVX 69.24 69.50 67.76 68.08 12.7M
UnitedHealth Group UNH 54.31 54.63 52.89 53.13 12.4M
Procter & Gamble PG 62.14 62.16 61.48 61.61 12.4M
Merck MRK 43.29 43.63 42.98 43.09 11.5M
Alphabet GOOGL 445.65 446.70 439.89 440.85 11.3M
McDonald's MCD 43.47 43.73 42.50 43.48 9.81M
Schlumberger SLB 64.65 65.05 64.06 64.48 9.47M
International Business Machines IBM 93.49 94.45 93.02 93.25 8.73M
Amazon AMZN 37.72 38.08 37.52 37.85 6.87M
Pepsico PEP 62.90 63.77 62.28 62.57 6.69M
Boeing BA 91.04 91.04 89.68 90.00 5.82M
Gilead Sciences GILD 69.86 70.28 69.10 69.54 5.67M
United Technologies UTX 64.64 64.79 64.03 64.60 5.47M
3M MMM 76.23 76.26 75.15 75.28 5.05M
Union Pacific UNP 98.95 100.35 97.23 99.95 3.15M
Berkshire Hathaway BRK.B 3550.00 3563.00 3520.00 3532.00 12.5K
Exchange Rates of March 16, 2007
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 116.730 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 = 1.207 CHF 1 CHF = 0.829 USD
US Dollar Chinese Yuan 1 USD = 7.736 CNY 1 CNY = 0.129 USD
Euro Japanese Yen 1 EUR = 155.420 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.685 GBP 1 GBP = 1.459 EUR
Euro Australian Dollar 1 EUR = 1.672 AUD 1 AUD = 0.598 EUR
Euro Canadian Dollar 1 EUR = 1.565 CAD 1 CAD = 0.639 EUR
Euro Swiss Franc 1 EUR = 1.607 CHF 1 CHF = 0.622 EUR
Japanese Yen Pound Sterling 1 JPY = 0.441 GBP 1 GBP = 2.269 JPY
Japanese Yen Australian Dollar 1 JPY = 1.076 AUD 1 AUD = 0.930 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.007 CAD 1 CAD = 0.994 JPY
Japanese Yen Swiss Franc 1 JPY = 1.034 CHF 1 CHF = 0.967 JPY
Pound Sterling Australian Dollar 1 GBP = 2.440 AUD 1 AUD = 0.410 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.283 CAD 1 CAD = 0.438 GBP
Pound Sterling Swiss Franc 1 GBP = 2.344 CHF 1 CHF = 0.427 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.935 CAD 1 CAD = 1.070 AUD
Australian Dollar Swiss Franc 1 AUD = 0.960 CHF 1 CHF = 1.041 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.027 CHF 1 CHF = 0.974 CAD

See what else happened on March 16, 2007