Financial news on December 20th, 2006

Business and Financial news
Advo and Valassis to Merge After All

The two companies came to terms after the board of Advo agreed late Monday to drop its asking price to $33 a share from $37. Read more..

By RITA K. FARRELL - The New York Times

A Suburb’s Big Project Is Outpacing Hartford’s

West Hartford has become a regional destination for dining and shopping, a role that the capital city, with a population twice as large, formerly played. Read more..

By JANE GORDON - The New York Times

Court Orders Lawyer to Return Documents About an Eli Lilly Drug

The internal Eli Lilly documents and e-mail messages detailed efforts by the drug maker to play down the health risks of Zyprexa. Read more..

By JULIE CRESWELL - The New York Times

Court Says U.S. Oversight of Power Industry Was Lax

The court ruled that in trying to increase competition in the power industry, national energy officials abdicated their responsibility to ensure fair electricity markets. Read more..

By DAVID CAY JOHNSTON - The New York Times

Dell’s Financial Chief Resigns Unexpectedly

Dell, the computer maker, said Tuesday that its chief financial officer was stepping down as the company faces two federal investigations into its accounting practices. Read more..

By DAMON DARLIN - The New York Times

Goldman Chairman Gets a Bonus of $53.4 Million

The bonus, the highest ever for a Wall Street chief executive, came a week after Goldman reported a record profit of $9.5 billion. Read more..

By JENNY ANDERSON - The New York Times

Japanese Securities Firm to Buy Stake in U.S. Hedge Fund

Nomura Holdings, Japan’s biggest securities firm, will buy a 15 percent stake in the Fortress Investment Group. Read more..

By BLOOMBERG NEWS - The New York Times

Study Predicts Foreclosure for 1 in 5 Subprime Loans

At that rate, about 1.1 million of the homeowners who took out subprime loans in the last two years will lose their houses, at an estimated cost of $74.6 billion. Read more..

By RON NIXON - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Oracle Corp.ORCL17.0917.2217.0317.1048.7M
General ElectricGE38.1338.4938.0138.1536.9M
Cisco SystemsCSCO27.6827.7027.3827.3931.8M
AT&T Inc.T35.0635.4534.9334.9529.8M
HP Inc.HPQ40.3541.4640.3541.3421.1M
Wal-Mart StoresWMT46.0046.1345.8745.8713.9M
Home DepotHD39.5639.8639.1339.1313.4M
Verizon CommunicationsVZ36.6836.9036.3636.4511.6M
UnitedHealth GroupUNH52.5053.7052.3453.5610.3M
Johnson & JohnsonJNJ66.6566.8966.3466.439.78M
Abbott LaboratoriesABT48.2048.3747.4347.958.06M
Wells Fargo & Co.WFC35.9236.0535.8535.886.41M
JPMorgan ChaseJPM48.3348.3748.1448.226.04M
Bristol-Myers SquibbBMY25.6025.8925.5725.775.76M
Walt Disney & Co.DIS34.7634.8034.5234.615.74M
United TechnologiesUTX62.6663.5462.2963.225.65M
Gilead SciencesGILD65.2565.9864.7164.765.08M
Procter & GamblePG64.3064.4864.0264.474.48M
International Business MachinesIBM96.3196.5095.7096.003.65M
Union PacificUNP92.3292.5091.3091.401.79M
Berkshire HathawayBRK.B3778.003788.003706.003721.0025.9K
Exchange Rates of December 20th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 118.430 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.149 CAD1 CAD = 0.870 USD
US DollarSwiss Franc1 USD = 1.218 CHF1 CHF = 0.821 USD
US DollarChinese Yuan1 USD = 7.815 CNY1 CNY = 0.128 USD
EuroJapanese Yen1 EUR = 156.000 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.670 GBP1 GBP = 1.492 EUR
EuroAustralian Dollar1 EUR = 1.676 AUD1 AUD = 0.597 EUR
EuroCanadian Dollar1 EUR = 1.513 CAD1 CAD = 0.661 EUR
EuroSwiss Franc1 EUR = 1.604 CHF1 CHF = 0.623 EUR
Japanese YenPound Sterling1 JPY = 0.430 GBP1 GBP = 2.328 JPY
Japanese YenAustralian Dollar1 JPY = 1.074 AUD1 AUD = 0.931 JPY
Japanese YenCanadian Dollar1 JPY = 0.970 CAD1 CAD = 1.031 JPY
Japanese YenSwiss Franc1 JPY = 1.028 CHF1 CHF = 0.973 JPY
Pound SterlingAustralian Dollar1 GBP = 2.500 AUD1 AUD = 0.400 GBP
Pound SterlingCanadian Dollar1 GBP = 2.257 CAD1 CAD = 0.443 GBP
Pound SterlingSwiss Franc1 GBP = 2.392 CHF1 CHF = 0.418 GBP
Australian DollarCanadian Dollar1 AUD = 0.902 CAD1 CAD = 1.109 AUD
Australian DollarSwiss Franc1 AUD = 0.957 CHF1 CHF = 1.045 AUD
Canadian DollarSwiss Franc1 CAD = 1.060 CHF1 CHF = 0.944 CAD

See what else happened on December 20th, 2006