Financial news on July 20, 2007

Business and Financial news
Co-Founder of Southwest Airlines to Retire as Chairman Next Year

Herb Kelleher, one of the Southwest’s founders, will step down in May. A replacement has not yet been named. Read more..

By JEFF BAILEY - The New York Times

Does Google’s Money Talk?

Google says it will bid $4.6 billion for wireless spectrum…if the government imposes rules to make the wireless network open over the wishes of the telephone companies. Read more..

By SAUL HANSELL - The New York Times

Dow Caps a 4-Month Surge, Closing Above 14,000

Driven by corporate buyouts, strong profit reports and stock buybacks, the market closed at a record high. Read more..

By VIKAS BAJAJ - The New York Times

Dow Industrials Close Above 14,000

The record finish capped a four-month rally driven by corporate buyouts, strong profits and stock buybacks. Read more..

By VIKAS BAJAJ - The New York Times

Google Earnings Up 28% but Miss Expectations

The search giant’s shares declined sharply in after-hours trading despite its 58 percent increase in quarterly revenues. Read more..

By MIGUEL HELFT - The New York Times

Harley Profit Is Up 19% on Overseas Sales

Overseas sales helped push profits at Harley-Davidson up 19 percent in the second quarter, but shares fell due to a slump in domestic sales. Read more..

By BLOOMBERG NEWS - The New York Times

Market Shock: AAA Rating May Be Junk

The question is whether the market can continue rising as investors learn that the financial innovations that helped to build the boom were constructed on sand. Read more..

By FLOYD NORRIS - The New York Times

Microsoft’s Profit Rises Despite Xbox Charge

Microsoft said it eked out a gain in net profit despite taking a $1 billion charge to pay for repairs to its Xbox 360 game consoles. Read more..

By LAURIE J. FLYNN - The New York Times

More From Ooma

Andrew Frame, chief executive of Ooma Andrew Frame, the chief executive of Ooma, has answered the second batch of questions from Bits readers on his new telephony start-up. Axe: And what about privacy? If my phone call goes through another user’s PC and to his phone line, which guarantee do I have that he won’t […] Read more..

By SAUL HANSELL - The New York Times

Wyeth Raises Forecast as Profit Jumps

Profits at the drugmaker increased 13 percent in the second quarter on higher sales of its arthritis drug and pneumonia vaccine. Read more..

By BLOOMBERG NEWS - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE40.4440.8240.0040.1249.3M
Cisco SystemsCSCO29.9429.9429.4029.5945.8M
Oracle Corp.ORCL20.8920.9420.3820.6144M
JPMorgan ChaseJPM48.8148.8147.3847.5630.7M
AT&T Inc.T39.5539.7038.9639.0627.1M
Wells Fargo & Co.WFC35.1835.6634.6534.7221.4M
Wal-Mart StoresWMT48.5048.8747.9248.0619M
Gilead SciencesGILD40.0240.0637.9638.7518.2M
Home DepotHD39.5039.8739.3439.3917.9M
Abbott LaboratoriesABT54.3054.4752.7052.8715.7M
Verizon CommunicationsVZ41.6042.5041.6042.2815.2M
HP Inc.HPQ48.5048.9348.1348.5415.1M
Johnson & JohnsonJNJ62.3962.5061.7261.7913.8M
Bristol-Myers SquibbBMY32.0132.0931.4831.5413.4M
Procter & GamblePG62.2462.8962.1062.1512.2M
International Business MachinesIBM114.85115.86113.94114.8111.7M
Walt Disney & Co.DIS34.4634.5634.2834.3410.7M
UnitedHealth GroupUNH51.6751.9050.7851.329.55M
United TechnologiesUTX77.1977.2375.8476.036.74M
Union PacificUNP124.50126.34123.71125.872.73M
Berkshire HathawayBRK.B3638.003653.003627.003642.5010.6K
Exchange Rates of July 20, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 121.260 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.049 CAD1 CAD = 0.954 USD
US DollarSwiss Franc1 USD = 1.201 CHF1 CHF = 0.833 USD
US DollarChinese Yuan1 USD = 7.570 CNY1 CNY = 0.132 USD
EuroJapanese Yen1 EUR = 167.670 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.672 GBP1 GBP = 1.487 EUR
EuroAustralian Dollar1 EUR = 1.570 AUD1 AUD = 0.637 EUR
EuroCanadian Dollar1 EUR = 1.450 CAD1 CAD = 0.690 EUR
EuroSwiss Franc1 EUR = 1.660 CHF1 CHF = 0.602 EUR
Japanese YenPound Sterling1 JPY = 0.401 GBP1 GBP = 2.495 JPY
Japanese YenAustralian Dollar1 JPY = 0.936 AUD1 AUD = 1.068 JPY
Japanese YenCanadian Dollar1 JPY = 0.864 CAD1 CAD = 1.157 JPY
Japanese YenSwiss Franc1 JPY = 0.990 CHF1 CHF = 1.010 JPY
Pound SterlingAustralian Dollar1 GBP = 2.336 AUD1 AUD = 0.428 GBP
Pound SterlingCanadian Dollar1 GBP = 2.156 CAD1 CAD = 0.464 GBP
Pound SterlingSwiss Franc1 GBP = 2.468 CHF1 CHF = 0.405 GBP
Australian DollarCanadian Dollar1 AUD = 0.923 CAD1 CAD = 1.084 AUD
Australian DollarSwiss Franc1 AUD = 1.057 CHF1 CHF = 0.947 AUD
Canadian DollarSwiss Franc1 CAD = 1.145 CHF1 CHF = 0.874 CAD

See what else happened on July 20, 2007