Financial news on July 19, 2010

Business and Financial news
After Tumult, Debt Worries Ease in Europe

Two months ago, Europe’s debt problems seemed grave enough to imperil the global economic recovery. Now, some investors are treating it as the crisis that wasn’t. Read more..

By GRAHAM BOWLEY - The New York Times

Analysts Think Bank of America Is Too Pessimistic

Analysts contend that Bank of America could offset revenue lost because of new regulations by raising the fees it charges its customers. Read more..

By CYRUS SANATI - The New York Times

AXA-NAB Extend $11.5 Billion Takeover Deal

National Australia Bank, the takeover target AXA Asia Pacific and France’s AXA SA agreed to extend an $11.5 billion acquisition agreement to Aug 31, signaling they were far from resolving regulatory obstacles, Reuters reported. Read more..

By DEALBOOK - The New York Times

Bankers Worried Over European Bank Stress Tests

Senior bankers and regulators across Europe are worried that markets could misinterpret the outcome of a test of how resilient European banks are to economic shocks, The Financial Times reported. Read more..

By DEALBOOK - The New York Times

Booming Demand for TV on the Internet in China

Young people in China are starting to favor Internet video over TV, in part as a way to make an end run around government regulators. Read more..

By DAVID BARBOZA - The New York Times

BP Said to Canvass Investors on Possible Break-Up

BP has started canvassing shareholders about a restructuring following its Gulf of Mexico oil spill, which could include a break up of the business, The Sunday Times reported. Read more..

By DEALBOOK - The New York Times

Nokia to Buy Motorola Unit for $1.2 Billion

Nokia Siemens Networks said Monday that it had agreed to buy the wireless-network equipment division of Motorola for $1.2 billion in cash. Read more..

By DEALBOOK - The New York Times

Private Equity Group Buys 3 Failed Banks

North American Financial Holdings, run by the former chief of Bank of America’s investment banking unit, bought three failed United States lenders, as the number of banks taken over by the Federal Deposit Insurance Corporation this year hit 96, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

The Tax Man Cometh: H&R Block May Get Bid

H&R Block, the nation’s largest tax company, may get a merger proposal from a smaller competitor, Liberty Tax Service. Read more..

By DEALBOOK - The New York Times

Wall Street May Finally Breathe Easier

The financial industry may finally have time to relax after resolving headaches such as BP’s well and Goldman’s $550 million settlement. Read more..

By ROB COX, RICHARD BEALES and CHRISTOPHER HUGHES - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Intel INTC 21.17 21.61 21.16 21.59 63.4M
Cisco Systems CSCO 22.87 23.03 22.55 22.73 54.7M
General Electric GE 14.64 14.74 14.47 14.62 49.1M
Microsoft MSFT 24.96 25.30 24.91 25.23 38.2M
Apple AAPL 249.88 249.88 239.60 245.58 36.6M
JPMorgan Chase JPM 39.03 39.36 38.12 39.04 35.4M
Wells Fargo & Co. WFC 26.27 26.40 25.62 26.02 34.7M
Pfizer PFE 14.62 14.84 14.58 14.73 32.7M
Comcast CMCSA 18.53 19.09 18.47 19.01 21.2M
ExxonMobil XOM 58.33 58.74 58.10 58.43 21M
Oracle Corp. ORCL 23.48 23.68 23.40 23.59 19.7M
AT&T Inc. T 24.81 24.96 24.75 24.88 18.9M
Home Depot HD 27.16 27.26 26.85 27.07 17.1M
Gilead Sciences GILD 32.00 33.16 31.99 32.91 16.7M
Verizon Communications VZ 26.78 26.92 26.70 26.72 14.9M
Schlumberger SLB 57.77 59.68 57.34 59.15 14.3M
Wal-Mart Stores WMT 49.72 49.81 49.09 49.52 11.9M
Bristol-Myers Squibb BMY 25.27 25.27 24.78 24.84 11.8M
HP Inc. HPQ 46.40 46.95 46.13 46.68 10.6M
Altria MO 21.37 21.49 21.30 21.38 10.3M
Johnson & Johnson JNJ 59.72 59.79 59.37 59.57 10.3M
Merck MRK 35.94 36.11 35.69 35.80 10.1M
Walt Disney & Co. DIS 33.09 33.50 32.99 33.31 9.65M
Procter & Gamble PG 61.99 62.29 61.71 61.86 9.64M
ConocoPhillips COP 52.20 52.28 51.49 51.84 9.33M
Alphabet GOOGL 461.01 469.65 457.52 466.18 9.09M
Abbott Laboratories ABT 47.41 47.58 47.25 47.41 8.75M
UnitedHealth Group UNH 30.48 30.96 30.29 30.82 8.58M
International Business Machines IBM 128.67 130.38 128.37 129.79 8.39M
Chevron CVX 71.84 72.30 71.49 72.00 8.35M
Amgen AMGN 52.46 53.61 52.31 53.60 7.83M
Pepsico PEP 62.39 62.52 62.00 62.05 5.97M
Coca-Cola KO 52.54 52.57 52.05 52.27 5.68M
McDonald's MCD 69.97 70.38 69.45 69.91 5.07M
Boeing BA 62.72 63.36 62.04 63.18 5.03M
Amazon AMZN 118.38 120.74 117.00 119.94 5.03M
Visa V 72.21 72.25 70.87 71.22 5M
Berkshire Hathaway BRK.B 77.37 77.85 76.44 77.31 4.9M
United Technologies UTX 66.42 66.90 66.12 66.39 4.73M
Union Pacific UNP 69.19 69.26 67.50 68.37 4.36M
3M MMM 81.48 81.55 80.08 81.22 3.05M
Exchange Rates of July 19, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 86.760 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.055 CAD 1 CAD = 0.948 USD
US Dollar Swiss Franc 1 USD = 1.054 CHF 1 CHF = 0.949 USD
US Dollar Chinese Yuan 1 USD = 6.779 CNY 1 CNY = 0.148 USD
Euro Japanese Yen 1 EUR = 112.350 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.850 GBP 1 GBP = 1.176 EUR
Euro Australian Dollar 1 EUR = 1.489 AUD 1 AUD = 0.672 EUR
Euro Canadian Dollar 1 EUR = 1.366 CAD 1 CAD = 0.732 EUR
Euro Swiss Franc 1 EUR = 1.365 CHF 1 CHF = 0.733 EUR
Euro Chinese Yuan 1 EUR = 8.775 CNY 1 CNY = 0.114 EUR
Japanese Yen Pound Sterling 1 JPY = 0.756 GBP 1 GBP = 1.322 JPY
Japanese Yen Australian Dollar 1 JPY = 1.325 AUD 1 AUD = 0.754 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.215 CAD 1 CAD = 0.823 JPY
Japanese Yen Swiss Franc 1 JPY = 1.215 CHF 1 CHF = 0.823 JPY
Pound Sterling Australian Dollar 1 GBP = 1.752 AUD 1 AUD = 0.571 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.606 CAD 1 CAD = 0.623 GBP
Pound Sterling Swiss Franc 1 GBP = 1.605 CHF 1 CHF = 0.623 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.310 CNY 1 CNY = 0.097 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.916 CAD 1 CAD = 1.091 AUD
Australian Dollar Swiss Franc 1 AUD = 0.916 CHF 1 CHF = 1.092 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.887 CNY 1 CNY = 0.170 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.999 CHF 1 CHF = 1.001 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.424 CNY 1 CNY = 0.156 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.427 CNY 1 CNY = 0.156 CHF

See what else happened on July 19, 2010