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

StockTicker symbolOpenHighLowCloseVolume
IntelINTC22.6922.7522.5122.7068.3M
MicrosoftMSFT30.9730.9930.5830.8358.5M
General ElectricGE36.7537.2736.7036.9641.5M
Cisco SystemsCSCO26.3626.4126.1626.2140.8M
PfizerPFE27.3527.4827.3127.4432.7M
AT&T Inc.T41.3241.5040.8841.1026.3M
Oracle Corp.ORCL19.0719.2519.0119.2525.9M
ExxonMobilXOM82.1483.3382.0883.2625M
ConocoPhillipsCOP73.5775.1172.7474.8523M
AppleAAPL110.23110.64109.77110.0222.2M
Verizon CommunicationsVZ42.5042.7442.4142.5921.4M
ComcastCMCSA26.9927.6426.8027.5319.9M
HP Inc.HPQ45.0445.0444.1544.5817.8M
Procter & GamblePG63.5064.4363.2563.4816.4M
AmgenAMGN53.5254.5053.5054.0414.8M
Home DepotHD38.4938.9138.2538.8813.9M
Wal-Mart StoresWMT47.3247.3747.1847.2713.7M
MerckMRK52.5653.2552.2553.2513.7M
McDonald'sMCD52.4252.4251.8252.3313.5M
Johnson & JohnsonJNJ62.9863.6362.8063.4213.4M
Coca-ColaKO52.3652.6552.0952.6312.9M
Wells Fargo & Co.WFC36.3436.4436.2836.4211.7M
JPMorgan ChaseJPM52.6252.9352.4552.5411.1M
ChevronCVX81.8582.9281.8082.8511.1M
Walt Disney & Co.DIS36.1136.1935.8336.0211M
AltriaMO69.9470.1569.5669.9510.5M
Bristol-Myers SquibbBMY30.2230.4830.0430.4510M
International Business MachinesIBM105.84108.05105.60107.999.86M
AmazonAMZN62.4863.3062.2863.309.8M
SchlumbergerSLB78.9879.6578.4979.409.67M
Abbott LaboratoriesABT58.9859.5058.5859.439.65M
PepsicoPEP68.7769.6468.6969.488.37M
AlphabetGOOGL472.03472.70469.75470.327.38M
UnitedHealth GroupUNH53.7353.8053.1453.475.92M
United TechnologiesUTX69.6569.8569.0069.194.73M
BoeingBA97.0797.5096.2796.634.23M
3MMMM86.9387.3286.8086.903.95M
Gilead SciencesGILD82.9783.8681.9783.023.31M
Union PacificUNP120.79120.79119.19119.852.17M
Berkshire HathawayBRK.B3615.003615.003590.003604.5028.2K
Exchange Rates of May 18, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 121.110 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.089 CAD1 CAD = 0.919 USD
US DollarSwiss Franc1 USD = 1.227 CHF1 CHF = 0.815 USD
US DollarChinese Yuan1 USD = 7.669 CNY1 CNY = 0.130 USD
EuroJapanese Yen1 EUR = 163.600 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.684 GBP1 GBP = 1.462 EUR
EuroAustralian Dollar1 EUR = 1.641 AUD1 AUD = 0.609 EUR
EuroCanadian Dollar1 EUR = 1.470 CAD1 CAD = 0.680 EUR
EuroSwiss Franc1 EUR = 1.658 CHF1 CHF = 0.603 EUR
Japanese YenPound Sterling1 JPY = 0.418 GBP1 GBP = 2.393 JPY
Japanese YenAustralian Dollar1 JPY = 1.003 AUD1 AUD = 0.998 JPY
Japanese YenCanadian Dollar1 JPY = 0.898 CAD1 CAD = 1.113 JPY
Japanese YenSwiss Franc1 JPY = 1.013 CHF1 CHF = 0.987 JPY
Pound SterlingAustralian Dollar1 GBP = 2.400 AUD1 AUD = 0.417 GBP
Pound SterlingCanadian Dollar1 GBP = 2.150 CAD1 CAD = 0.465 GBP
Pound SterlingSwiss Franc1 GBP = 2.423 CHF1 CHF = 0.413 GBP
Australian DollarCanadian Dollar1 AUD = 0.895 CAD1 CAD = 1.117 AUD
Australian DollarSwiss Franc1 AUD = 1.010 CHF1 CHF = 0.991 AUD
Canadian DollarSwiss Franc1 CAD = 1.127 CHF1 CHF = 0.887 CAD

See what else happened on May 18, 2007