Financial news on May 18, 2007

Business and Financial news
3 Department Store Chains Exceed Estimates

J. C. Penney, Kohl’s and Nordstrom reported first-quarter profits that surpassed estimates and they increased their full-year earnings forecasts. Read more..

By BLOOMBERG NEWS - The New York Times

Ads That Are Too Fast for a Fast-Forward Button

The CW network plans shorter ads and ads blended into shows to hold the attention of viewers through commercial breaks. Read more..

By STUART ELLIOTT - The New York Times

Auditing Rule Is Put at Risk by Texas Bill

Texas lawmakers are on the verge of rejecting a requirement that state and local governments disclose the cost of the health care they have promised to retired employees. Read more..

By MARY WILLIAMS WALSH - The New York Times

Calls to Remove CVS/Caremark Director

An investment advisory firm is calling the removal of Roger L. Headrick, amid concern that his re-election to the board was aided by “phantom votes.” Read more..

By DOW JONES NEWSWIRES - The New York Times

Fed Chief Addresses Foreclosures

Ben S. Bernanke said problems in the subprime market were unlikely to have a major effect on the economy. Read more..

By JEREMY W. PETERS - The New York Times

Financier Says He Is Not Target of Swiss Arms Investigation

A Syrian-born financier who helped broker an arms contract between BAE Systems and Saudi Arabia said he was not a target of a money-laundering investigation. Read more..

By NICOLA CLARK - The New York Times

G.M.’s Advertising Chief to Step Down

General Motors said its North American marketing and advertising chief, Mike Jackson, would leave the company June 15. Read more..

By BLOOMBERG NEWS - The New York Times

In Game of Games, Wii Outshoots PlayStation

The sales gap between the Nintendo Wii and Sony’s competing PlayStation 3 widened during April. Read more..

By MATT RICHTEL - The New York Times

Mexico: Economic Growth Rate Slips in Quarter

Mexico’s economy grew in the first quarter at its slowest rate in more than a year as construction fell and automobile output declined on slumping demand in the United States. Gross domestic product grew 2.6 percent from a year earlier, the govern... Read more..

By BLOOMBERG NEWS - The New York Times

What’s Happened to the Lawyers Who Worked for Spitzer?

For the lawyers who worked under Eliot Spitzer in the New York attorney general’s office, the options have ranged from law firm partnerships to state agency heads. Read more..

By ELLEN ROSEN - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 22.69 22.75 22.51 22.70 68.3M
Microsoft MSFT 30.97 30.99 30.58 30.83 58.5M
General Electric GE 36.75 37.27 36.70 36.96 41.5M
Cisco Systems CSCO 26.36 26.41 26.16 26.21 40.8M
Pfizer PFE 27.35 27.48 27.31 27.44 32.7M
AT&T Inc. T 41.32 41.50 40.88 41.10 26.3M
Oracle Corp. ORCL 19.07 19.25 19.01 19.25 25.9M
ExxonMobil XOM 82.14 83.33 82.08 83.26 25M
ConocoPhillips COP 73.57 75.11 72.74 74.85 23M
Apple AAPL 110.23 110.64 109.77 110.02 22.2M
Verizon Communications VZ 42.50 42.74 42.41 42.59 21.4M
Comcast CMCSA 26.99 27.64 26.80 27.53 19.9M
HP Inc. HPQ 45.04 45.04 44.15 44.58 17.8M
Procter & Gamble PG 63.50 64.43 63.25 63.48 16.4M
Amgen AMGN 53.52 54.50 53.50 54.04 14.8M
Home Depot HD 38.49 38.91 38.25 38.88 13.9M
Wal-Mart Stores WMT 47.32 47.37 47.18 47.27 13.7M
Merck MRK 52.56 53.25 52.25 53.25 13.7M
McDonald's MCD 52.42 52.42 51.82 52.33 13.5M
Johnson & Johnson JNJ 62.98 63.63 62.80 63.42 13.4M
Coca-Cola KO 52.36 52.65 52.09 52.63 12.9M
Wells Fargo & Co. WFC 36.34 36.44 36.28 36.42 11.7M
JPMorgan Chase JPM 52.62 52.93 52.45 52.54 11.1M
Chevron CVX 81.85 82.92 81.80 82.85 11.1M
Walt Disney & Co. DIS 36.11 36.19 35.83 36.02 11M
Altria MO 69.94 70.15 69.56 69.95 10.5M
Bristol-Myers Squibb BMY 30.22 30.48 30.04 30.45 10M
International Business Machines IBM 105.84 108.05 105.60 107.99 9.86M
Amazon AMZN 62.48 63.30 62.28 63.30 9.8M
Schlumberger SLB 78.98 79.65 78.49 79.40 9.67M
Abbott Laboratories ABT 58.98 59.50 58.58 59.43 9.65M
Pepsico PEP 68.77 69.64 68.69 69.48 8.37M
Alphabet GOOGL 472.03 472.70 469.75 470.32 7.38M
UnitedHealth Group UNH 53.73 53.80 53.14 53.47 5.92M
United Technologies UTX 69.65 69.85 69.00 69.19 4.73M
Boeing BA 97.07 97.50 96.27 96.63 4.23M
3M MMM 86.93 87.32 86.80 86.90 3.95M
Gilead Sciences GILD 82.97 83.86 81.97 83.02 3.31M
Union Pacific UNP 120.79 120.79 119.19 119.85 2.17M
Berkshire Hathaway BRK.B 3615.00 3615.00 3590.00 3604.50 28.2K
Exchange Rates of May 18, 2007
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 121.110 JPY 1 JPY = 0.008 USD
US Dollar Canadian Dollar 1 USD = 1.089 CAD 1 CAD = 0.919 USD
US Dollar Swiss Franc 1 USD = 1.227 CHF 1 CHF = 0.815 USD
US Dollar Chinese Yuan 1 USD = 7.669 CNY 1 CNY = 0.130 USD
Euro Japanese Yen 1 EUR = 163.600 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.684 GBP 1 GBP = 1.462 EUR
Euro Australian Dollar 1 EUR = 1.641 AUD 1 AUD = 0.609 EUR
Euro Canadian Dollar 1 EUR = 1.470 CAD 1 CAD = 0.680 EUR
Euro Swiss Franc 1 EUR = 1.658 CHF 1 CHF = 0.603 EUR
Japanese Yen Pound Sterling 1 JPY = 0.418 GBP 1 GBP = 2.393 JPY
Japanese Yen Australian Dollar 1 JPY = 1.003 AUD 1 AUD = 0.998 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.898 CAD 1 CAD = 1.113 JPY
Japanese Yen Swiss Franc 1 JPY = 1.013 CHF 1 CHF = 0.987 JPY
Pound Sterling Australian Dollar 1 GBP = 2.400 AUD 1 AUD = 0.417 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.150 CAD 1 CAD = 0.465 GBP
Pound Sterling Swiss Franc 1 GBP = 2.423 CHF 1 CHF = 0.413 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.895 CAD 1 CAD = 1.117 AUD
Australian Dollar Swiss Franc 1 AUD = 1.010 CHF 1 CHF = 0.991 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.127 CHF 1 CHF = 0.887 CAD

See what else happened on May 18, 2007