Financial news on May 20, 2015

Business and Financial news
Altice Bids for Cable Operator in St. Louis

French cable giant Altice is in discussions to acquire Suddenlink Communications, privately held American cable operator based in St Louis; if successful, bid would mark next step in Altice's acquisition-based, international expansion. Read more..

By EMILY STEEL and MICHAEL J. de la MERCED - The New York Times

American Innovation Lies on Weak Foundation

Eduardo Porter Economic Scene column warns that America's peerless reputation for technological innovation rests on increasingly shaky ground; observes investment in research and development has flatlined in United States, even as rival nations increase their funding; attributes crisis to nadir in federal funding and a rising preference in corporate world to invest in marketable ideas rather than basic research. Read more..

By EDUARDO PORTER - The New York Times

France Answers Hostile Bids With the Two-Vote Share

Steven Davidoff Solomon Deal Professor column observes that France's law granting double voting rights to longterm shareholders, aimed at encouraging committed investing and discouraging hostile takeovers, may have unintended consequences; examines several potential drawbacks, including protection of under-productive boards and shift in power to sovereign investment; notes widespread opposition to rule. Read more..

By STEVEN DAVIDOFF SOLOMON - The New York Times

High Cost of Sovaldi Hepatitis C Drug Prompts a Call to Void Its Patents

Patient activist groups in Argentina, Brazil, China, Russia and Ukraine will file challenges seeking to void patents for Gilead Sciences blockbuster hepatitis C drug Sovaldi; argue that $84,000 price tag for course of treatment is prohibitive; actions are sign that controversy surrounding the drug in United States has spread abroad. Read more..

By ANDREW POLLACK - The New York Times

Ignoring the Penalty for Not Buying Health Insurance

The Obama administration gave people facing a tax penalty a second chance to sign up for health insurance. Few took it. Read more..

By MARGOT SANGER-KATZ - The New York Times

Pandora Buys Next Big Sound to Track Popular Music

Pandora Media announce acquisition of Next Big Sound, company that tracks popularity of songs online and in social networks; follows spate of other deals that have significantly consolidated world of data-tracking in music. Read more..

By BEN SISARIO - The New York Times

Tech Giants Urge Obama to Reject Policies That Weaken Encryption

Coalition of tech industry giants, civil liberties organizations and security experts send letter to Pres Obama warning him that proposed encryption mandate could have serious consequences; administration is weighing whether to force companies to use forms of encryption that provide 'back door' for law enforcement, but industry says same weakness could be used by foreign governments and hackers. Read more..

By NICOLE PERLROTH - The New York Times

Top Aide to S.E.C. Chairwoman Mary Jo White to Step Down From Post

Lona Nallengara, a veteran of the agency and the S.E.C. chairwoman’s chief of staff, often played the role of Ms. White’s ambassador. Read more..

By BEN PROTESS - The New York Times

UBS to Pay Over $500 Million in Fines for Manipulating Currencies and Libor

In a deal with the American authorities, the Swiss bank said it would also plead guilty to a criminal charge over rigging a benchmark interest rate. Read more..

By CHAD BRAY - The New York Times

Vodafone Returns to Quarterly Growth

The British company posted its first quarterly revenue gain in almost three years, helped by its emerging markets business and pointing to a recovery. Read more..

By MARK SCOTT - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 27.34 27.70 27.20 27.64 40.2M
Apple AAPL 130.00 130.98 129.34 130.06 36.5M
AT&T Inc. T 34.43 34.71 34.29 34.62 27.3M
Microsoft MSFT 47.39 47.93 47.27 47.58 25M
Facebook FB 80.47 81.10 79.46 80.55 23.1M
Intel INTC 33.06 33.50 33.01 33.37 21.4M
Cisco Systems CSCO 29.80 29.85 29.53 29.62 19.4M
Pfizer PFE 34.30 34.49 34.27 34.30 15.3M
Comcast CMCSA 57.69 58.15 57.30 57.57 15.3M
Verizon Communications VZ 49.57 49.96 49.56 49.69 13.6M
Wells Fargo & Co. WFC 56.32 56.37 55.93 56.08 13.3M
General Motors GM 35.24 35.30 34.66 35.02 12.9M
JPMorgan Chase JPM 66.95 67.03 66.40 66.48 12.4M
HP Inc. HPQ 33.41 33.45 32.78 33.07 12M
Coca-Cola KO 41.37 41.59 41.31 41.35 11M
Wal-Mart Stores WMT 76.48 76.50 75.83 75.90 10.5M
Gilead Sciences GILD 110.09 110.91 108.15 110.17 10.3M
Oracle Corp. ORCL 44.22 44.60 44.09 44.29 9.05M
Union Pacific UNP 103.68 103.99 102.15 103.28 7.41M
Bristol-Myers Squibb BMY 68.41 69.86 68.29 69.08 7.38M
ExxonMobil XOM 87.39 87.40 86.91 87.13 7.28M
Johnson & Johnson JNJ 104.42 104.48 103.31 103.60 7.14M
Home Depot HD 112.19 112.89 111.22 112.10 7M
Chevron CVX 105.42 105.90 104.76 105.25 6.52M
McDonald's MCD 100.88 100.98 99.42 100.11 6.19M
Merck MRK 60.67 60.85 60.44 60.46 6.03M
Procter & Gamble PG 80.93 81.00 80.45 80.48 5.49M
Visa V 70.25 70.32 69.48 69.78 4.87M
ConocoPhillips COP 64.75 64.95 64.12 64.78 4.84M
Schlumberger SLB 90.70 91.18 89.82 90.75 4.48M
Altria MO 51.94 52.28 51.78 51.80 4.43M
Walt Disney & Co. DIS 110.78 110.81 110.02 110.20 4.39M
Abbott Laboratories ABT 49.08 49.36 48.93 49.14 3.68M
UnitedHealth Group UNH 120.73 121.85 120.03 121.24 3.38M
Pepsico PEP 98.00 98.33 97.68 97.69 2.79M
United Technologies UTX 119.66 119.66 118.60 118.87 2.43M
International Business Machines IBM 173.33 174.44 172.46 173.76 2.3M
Berkshire Hathaway BRK.B 146.41 146.44 145.64 145.94 2.24M
Amazon AMZN 420.60 427.10 418.36 423.86 2.2M
Boeing BA 147.14 147.34 146.10 146.42 2.1M
Amgen AMGN 163.97 165.59 162.40 163.98 2.03M
3M MMM 162.42 163.07 161.84 161.90 1.98M
Alphabet GOOGL 550.92 556.07 545.10 552.51 1.54M
Exchange Rates of May 20, 2015
CurrenciesExchange Rates
US Dollar Euro 1 USD = 0.901 EUR 1 EUR = 1.110 USD
US Dollar Japanese Yen 1 USD = 121.218 JPY 1 JPY = 0.008 USD
US Dollar Pound Sterling 1 USD = 0.644 GBP 1 GBP = 1.554 USD
US Dollar Australian Dollar 1 USD = 1.270 AUD 1 AUD = 0.788 USD
US Dollar Canadian Dollar 1 USD = 1.220 CAD 1 CAD = 0.820 USD
US Dollar Swiss Franc 1 USD = 0.937 CHF 1 CHF = 1.068 USD
US Dollar Chinese Yuan 1 USD = 6.204 CNY 1 CNY = 0.161 USD
US Dollar Mexican Peso 1 USD = 15.183 MXN 1 MXN = 0.066 USD
US Dollar Swidish Krona 1 USD = 8.345 SEK 1 SEK = 0.120 USD
Euro Japanese Yen 1 EUR = 134.499 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.714 GBP 1 GBP = 1.401 EUR
Euro Australian Dollar 1 EUR = 1.409 AUD 1 AUD = 0.710 EUR
Euro Canadian Dollar 1 EUR = 1.354 CAD 1 CAD = 0.739 EUR
Euro Swiss Franc 1 EUR = 1.039 CHF 1 CHF = 0.962 EUR
Euro Chinese Yuan 1 EUR = 6.883 CNY 1 CNY = 0.145 EUR
Euro Mexican Peso 1 EUR = 16.843 MXN 1 MXN = 0.059 EUR
Euro Swidish Krona 1 EUR = 9.257 SEK 1 SEK = 0.108 EUR
Japanese Yen Pound Sterling 1 JPY = 0.005 GBP 1 GBP = 188.679 JPY
Japanese Yen Australian Dollar 1 JPY = 0.011 AUD 1 AUD = 95.238 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.010 CAD 1 CAD = 99.010 JPY
Japanese Yen Swiss Franc 1 JPY = 0.008 CHF 1 CHF = 129.870 JPY
Japanese Yen Chinese Yuan 1 JPY = 0.051 CNY 1 CNY = 19.569 JPY
Japanese Yen Mexican Peso 1 JPY = 0.125 MXN 1 MXN = 7.987 JPY
Japanese Yen Swidish Krona 1 JPY = 0.069 SEK 1 SEK = 14.535 JPY
Pound Sterling Australian Dollar 1 GBP = 1.973 AUD 1 AUD = 0.507 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.896 CAD 1 CAD = 0.527 GBP
Pound Sterling Swiss Franc 1 GBP = 1.456 CHF 1 CHF = 0.687 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.639 CNY 1 CNY = 0.104 GBP
Pound Sterling Mexican Peso 1 GBP = 23.590 MXN 1 MXN = 0.042 GBP
Pound Sterling Swidish Krona 1 GBP = 12.954 SEK 1 SEK = 0.077 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.961 CAD 1 CAD = 1.041 AUD
Australian Dollar Swiss Franc 1 AUD = 0.738 CHF 1 CHF = 1.356 AUD
Australian Dollar Chinese Yuan 1 AUD = 4.885 CNY 1 CNY = 0.205 AUD
Australian Dollar Mexican Peso 1 AUD = 11.958 MXN 1 MXN = 0.084 AUD
Australian Dollar Swidish Krona 1 AUD = 6.569 SEK 1 SEK = 0.152 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.768 CHF 1 CHF = 1.303 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.084 CNY 1 CNY = 0.197 CAD
Canadian Dollar Mexican Peso 1 CAD = 12.440 MXN 1 MXN = 0.080 CAD
Canadian Dollar Swidish Krona 1 CAD = 6.835 SEK 1 SEK = 0.146 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.621 CNY 1 CNY = 0.151 CHF
Swiss Franc Mexican Peso 1 CHF = 16.203 MXN 1 MXN = 0.062 CHF
Swiss Franc Swidish Krona 1 CHF = 8.899 SEK 1 SEK = 0.112 CHF
Chinese Yuan Swidish Krona 1 CNY = 1.345 SEK 1 SEK = 0.743 CNY

See what else happened on May 20, 2015