Financial news on September 20, 2010

Business and Financial news
At Networks, Gloves Are Already Off

In what has been described as the most intensely competitive opening night in recent memory, each of the four major networks has something to prove and a lot on the line Monday. Read more..

By BILL CARTER - The New York Times

Buyout Groups Said to Eye Hero Honda Stake

KKR, TPG Capital, Carlyle Group and Bain Capital are competing to acquire a part of Honda Motor’s stake in India’s biggest motorcycle maker, five people with direct knowledge of the situation told Bloomberg News. Read more..

By DEALBOOK - The New York Times

China’s SAIC Noncommittal on Stake in G.M. I.P.O.

SAIC, the Chinese automaker and General Motors partner, said Monday it is paying close attention to G.M.’s upcoming stock sale, but gave no hint over whether it plans to take a stake itself. Read more..

By DEALBOOK - The New York Times

Denmark’s Pandora Prices I.P.O.

Pandora, the Danish jewelry maker, on Monday priced its initial public offering of stock at a preliminary 175-225 crowns per share, which it said valued the company at up to 29.2 billion crowns ($5.13 billion), Reuters reported. Read more..

By DEALBOOK - The New York Times

Former Goldman Quant Plans Comeback

Ray Iwanowski, who co-managed Goldman Sachs flagship Global Alpha hedge fund until March 2009, is considering a new fund, according to Absolute Return + Alpha magazine. Read more..

By DEALBOOK - The New York Times

General Growth Said to Settle With Hughes Heirs

General Growth Properties, the U.S. mall owner, will take full ownership of a Las Vegas residential property by paying $230 million to the heirs of Howard Hughes in a bid to settle a potential dispute, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

Obama Fends Off Charges of Vilifying Wall St.

President Obama pushed back when some in his CNBC audience urged him not to vilify business leaders and Wall Street. Read more..

By DEALBOOK - The New York Times

Peloton Founder Said to Launch New Fund

Ron Beller, the hedge fund manager whose firm, Peloton Partners, collapsed after a huge bet on subprime securities went catastrophically sour, has launched a new company with former Peloton colleague Manal Mehta, Financial News reported. Read more..

By DEALBOOK - The New York Times

Spain Is Ripe for Cloud Computing but Slow to Adopt

Spain is seen by many technology experts as fertile ground to develop the shared Internet technology, with its potential to cut fixed costs. But businesses and public administration have been slow to adopt it. Read more..

By RAPHAEL MINDER - International Herald Tribune

The Stakes in the Barnes & Noble Spat

The struggle for the bookseller centers on the company’s plans for competing in the era of electronic books. Read more..

By MICHAEL J. DE LA MERCED - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 21.97 21.99 21.64 21.75 55.7M
Microsoft MSFT 25.28 25.52 25.11 25.43 49.8M
Oracle Corp. ORCL 27.35 27.57 27.03 27.49 49.7M
General Electric GE 16.27 16.60 16.23 16.55 46.1M
Intel INTC 18.89 18.96 18.69 18.93 44.9M
JPMorgan Chase JPM 40.24 41.31 40.03 41.19 33.3M
Pfizer PFE 17.08 17.33 17.04 17.28 31.4M
Wells Fargo & Co. WFC 26.09 26.65 25.92 26.56 30.5M
AT&T Inc. T 28.41 28.63 28.22 28.54 28.5M
Apple AAPL 276.08 283.78 275.85 283.23 23.5M
HP Inc. HPQ 39.25 39.56 39.16 39.39 22.2M
Comcast CMCSA 17.76 18.30 17.74 18.10 21.9M
ExxonMobil XOM 61.04 61.82 60.95 61.55 21.8M
Verizon Communications VZ 31.84 32.17 31.58 32.09 21.6M
Bristol-Myers Squibb BMY 27.42 27.87 27.41 27.81 11.9M
Home Depot HD 30.04 30.74 29.90 30.65 11.5M
Abbott Laboratories ABT 51.60 52.39 51.53 52.26 11.2M
Gilead Sciences GILD 34.56 35.69 34.55 35.59 11.2M
Johnson & Johnson JNJ 61.65 62.23 61.51 62.09 11M
Merck MRK 36.36 36.64 36.23 36.54 10.5M
Walt Disney & Co. DIS 34.56 34.99 34.53 34.90 10.2M
ConocoPhillips COP 55.55 57.17 55.32 56.83 10.2M
Schlumberger SLB 58.21 59.13 57.77 58.84 9.37M
Altria MO 23.60 23.76 23.45 23.71 9.3M
Wal-Mart Stores WMT 53.10 53.67 53.09 53.54 9.26M
Procter & Gamble PG 61.01 61.59 60.91 61.43 9.05M
Alphabet GOOGL 492.50 510.41 492.06 508.28 8.8M
Chevron CVX 78.54 80.13 78.47 79.90 7.73M
Visa V 68.50 70.32 68.07 70.31 7.35M
International Business Machines IBM 130.24 132.09 130.11 131.79 7.15M
Coca-Cola KO 57.62 58.00 57.55 57.97 7.03M
Amazon AMZN 148.70 151.95 147.35 151.30 6.45M
Amgen AMGN 55.19 56.08 54.97 55.94 6.3M
Berkshire Hathaway BRK.B 82.84 83.70 82.82 83.51 6.11M
UnitedHealth Group UNH 34.37 35.03 34.35 34.93 5.64M
Pepsico PEP 66.26 66.98 66.05 66.89 5.06M
McDonald's MCD 74.32 75.35 74.30 75.11 4.21M
Boeing BA 62.99 63.90 62.53 63.72 4.17M
3M MMM 86.26 87.63 86.06 87.41 3.66M
Union Pacific UNP 80.19 81.64 80.01 80.74 3.49M
United Technologies UTX 69.70 70.62 69.25 70.37 2.96M
Exchange Rates of September 20, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 85.680 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.030 CAD 1 CAD = 0.971 USD
US Dollar Swiss Franc 1 USD = 1.005 CHF 1 CHF = 0.995 USD
US Dollar Chinese Yuan 1 USD = 6.715 CNY 1 CNY = 0.149 USD
Euro Japanese Yen 1 EUR = 111.920 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.840 GBP 1 GBP = 1.190 EUR
Euro Australian Dollar 1 EUR = 1.381 AUD 1 AUD = 0.724 EUR
Euro Canadian Dollar 1 EUR = 1.345 CAD 1 CAD = 0.743 EUR
Euro Swiss Franc 1 EUR = 1.313 CHF 1 CHF = 0.762 EUR
Euro Chinese Yuan 1 EUR = 8.771 CNY 1 CNY = 0.114 EUR
Japanese Yen Pound Sterling 1 JPY = 0.751 GBP 1 GBP = 1.332 JPY
Japanese Yen Australian Dollar 1 JPY = 1.233 AUD 1 AUD = 0.811 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.202 CAD 1 CAD = 0.832 JPY
Japanese Yen Swiss Franc 1 JPY = 1.173 CHF 1 CHF = 0.853 JPY
Pound Sterling Australian Dollar 1 GBP = 1.643 AUD 1 AUD = 0.609 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.601 CAD 1 CAD = 0.625 GBP
Pound Sterling Swiss Franc 1 GBP = 1.562 CHF 1 CHF = 0.640 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.430 CNY 1 CNY = 0.096 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.974 CAD 1 CAD = 1.027 AUD
Australian Dollar Swiss Franc 1 AUD = 0.951 CHF 1 CHF = 1.052 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.356 CNY 1 CNY = 0.157 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.976 CHF 1 CHF = 1.025 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.521 CNY 1 CNY = 0.153 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.680 CNY 1 CNY = 0.150 CHF

See what else happened on September 20, 2010