Financial news on October 17, 2007

Business and Financial news
China’s Citic Weighs Bear Stearns Bid

The vice chairman of Citic Group confirmed the bank’s intention to bid but said there had not been any “material progress” in its talks with Bear. Read more..

By JOSEPH KAHN - The New York Times

Fired Dow Chemical Officer Sues JPMorgan

A former Dow Chemical executive sued JPMorgan, contending that the bank deceived Dow by not disclosing its role in unauthorized buyout discussions. Read more..

By ANDREW ROSS SORKIN - The New York Times

Foreigners Shedding U.S. Securities

Foreigners dumped American assets in August as mortgage defaults set off a surge in borrowing costs. Read more..

By BLOOMBERG NEWS - The New York Times

Hollywood Producers Drop a Key Demand

Trying to break an impasse with screenwriters, producers withdrew a proposal to retool the decades-old practice of paying residuals for the reuse of movies and TV shows on other media. Read more..

By MICHAEL CIEPLY - The New York Times

I.B.M. Meets Expectations With a Solid Third Quarter

Problems in the banking sector hit I.B.M.’s earnings as financial services companies pulled back from buying mainframe computers and large software packages. Read more..

By STEVE LOHR - The New York Times

Intel, Buoyed by Quarter, Offers an Upbeat Outlook

Intel benefited from a reorganization and various new products after several quarters of a bruising price war with Advanced Micro Devices. Read more..

By LAURIE J. FLYNN - The New York Times

Lehman Pledges Millions to Black College

Lehman Brothers’ $10 million pledge to Spelman, a historically black college for women, will create a program that aims to increase diversity in the financial services sector. Read more..

By ANDREW ROSS SORKIN - The New York Times

New Contract for Moonves Links Pay to CBS’s Results

CBS, which was split off from Viacom in 2005, has struggled like most traditional media companies, as advertising and viewers have migrated to the Web. Read more..

By GERALDINE FABRIKANT - The New York Times

Paulson Says Housing Woes to Worsen

Predicting foreclosure proceedings would begin on one million homes this year, the Treasury secretary called for reforms by mortgage lenders, rating agencies and investment banks. Read more..

By EDMUND L. ANDREWS - The New York Times

The B.B.B. Wants to Advise You Before You Buy

The Better Business Bureau has decided to rebrand itself as a place to make informed purchases on goods and services and not just as a place to file complaints. Read more..

By ELIZABETH OLSON - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 26.79 26.98 26.25 26.72 188M
Microsoft MSFT 30.75 31.23 30.65 31.08 86.1M
General Electric GE 40.93 41.14 40.77 41.00 44.1M
Oracle Corp. ORCL 21.95 21.95 21.14 21.49 42.2M
Apple AAPL 172.69 173.04 169.18 172.75 40.3M
Cisco Systems CSCO 32.70 32.74 31.91 32.46 38.8M
JPMorgan Chase JPM 47.04 47.12 45.75 46.37 34.7M
Pfizer PFE 24.75 24.86 24.43 24.55 32.7M
Wells Fargo & Co. WFC 34.86 34.94 33.76 34.27 29.2M
Abbott Laboratories ABT 52.10 53.08 51.02 51.20 28.6M
ExxonMobil XOM 95.08 95.27 93.33 94.80 26.6M
Wal-Mart Stores WMT 46.14 46.36 45.28 45.99 23.9M
Home Depot HD 32.81 32.90 31.45 31.78 23.2M
AT&T Inc. T 42.57 42.57 41.33 41.93 22.5M
Comcast CMCSA 24.34 24.35 23.83 24.13 21.3M
International Business Machines IBM 118.01 118.01 114.15 115.78 18.1M
Coca-Cola KO 58.35 59.43 58.06 59.09 16.4M
ConocoPhillips COP 87.97 88.82 86.40 87.46 16.3M
Bristol-Myers Squibb BMY 29.71 29.88 29.46 29.83 15.6M
Altria MO 71.50 71.50 70.55 70.98 15M
United Technologies UTX 80.08 80.49 75.57 76.80 14.3M
Verizon Communications VZ 45.20 45.50 44.67 45.26 13.8M
HP Inc. HPQ 52.38 52.75 52.09 52.54 12.3M
Alphabet GOOGL 630.45 634.00 621.59 633.48 12M
Procter & Gamble PG 70.64 70.84 70.30 70.59 11.9M
Merck MRK 53.25 53.50 52.77 53.42 10.8M
Chevron CVX 93.88 93.94 92.05 93.26 10.7M
Johnson & Johnson JNJ 65.55 65.58 64.72 64.85 10.2M
Walt Disney & Co. DIS 35.26 35.59 35.14 35.38 9.03M
Schlumberger SLB 112.70 112.86 109.65 111.03 8.27M
Amgen AMGN 57.31 57.31 55.27 56.41 8.26M
Boeing BA 96.52 97.05 94.63 95.59 8.1M
Amazon AMZN 91.90 91.90 89.06 90.55 7.68M
Gilead Sciences GILD 42.67 43.00 41.51 42.72 7.52M
UnitedHealth Group UNH 48.49 49.41 48.25 48.60 5.7M
McDonald's MCD 57.22 57.29 56.45 56.96 5.48M
Pepsico PEP 72.02 72.79 71.61 72.11 4.84M
Union Pacific UNP 118.58 119.80 117.21 118.98 4.5M
3M MMM 94.64 95.04 93.10 94.26 3.42M
Berkshire Hathaway BRK.B 4255.00 4335.00 4252.50 4335.00 34.7K
Exchange Rates of October 17, 2007
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 116.580 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 0.974 CAD 1 CAD = 1.027 USD
US Dollar Swiss Franc 1 USD = 1.179 CHF 1 CHF = 0.848 USD
US Dollar Chinese Yuan 1 USD = 7.516 CNY 1 CNY = 0.133 USD
Euro Japanese Yen 1 EUR = 165.750 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.696 GBP 1 GBP = 1.436 EUR
Euro Australian Dollar 1 EUR = 1.594 AUD 1 AUD = 0.627 EUR
Euro Canadian Dollar 1 EUR = 1.384 CAD 1 CAD = 0.722 EUR
Euro Swiss Franc 1 EUR = 1.677 CHF 1 CHF = 0.596 EUR
Japanese Yen Pound Sterling 1 JPY = 0.420 GBP 1 GBP = 2.382 JPY
Japanese Yen Australian Dollar 1 JPY = 0.961 AUD 1 AUD = 1.040 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.835 CAD 1 CAD = 1.198 JPY
Japanese Yen Swiss Franc 1 JPY = 1.011 CHF 1 CHF = 0.989 JPY
Pound Sterling Australian Dollar 1 GBP = 2.289 AUD 1 AUD = 0.437 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.988 CAD 1 CAD = 0.503 GBP
Pound Sterling Swiss Franc 1 GBP = 2.407 CHF 1 CHF = 0.415 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.868 CAD 1 CAD = 1.152 AUD
Australian Dollar Swiss Franc 1 AUD = 1.051 CHF 1 CHF = 0.951 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.211 CHF 1 CHF = 0.826 CAD

See what else happened on October 17, 2007