Financial news on December 21st, 2007

Business and Financial news
A Big Bet on Kayak for Travel Search

Mike Moritz of Sequoia Capital and some other prominent venture capitalists are making a big bet on Kayak, the travel search engine, to challenge Expedia and the other online travel agencies. Read more..

By SAUL HANSELL - The New York Times

F.T.C. Approves DoubleClick Deal

The proposed Google merger could still be held up in Europe, where personal privacy has more legal protections than in the United States. Read more..

By LOUISE STORY - The New York Times

I.R.S. Says Bill Would Aid Tax Fraud in Virgin Islands

The proposed legislation would scale back audits of wealthy taxpayers, including 18 people who work for hedge funds, in the U.S. Virgin Islands. Read more..

By LYNNLEY BROWNING - The New York Times

Refocusing, Campbell Sells Godiva

The Campbell Soup Company agreed to sell its Godiva Chocolatier unit to Yildiz Holding of Turkey for $850 million. Read more..

By ANDREW ROSS SORKIN - The New York Times

Solving the Mortgage Crisis May Require a Guardian Angel

The Fed’s newly proposed rules might have prevented the current mess, but enacting them now will do nothing to repair the damage. Read more..

By FLOYD NORRIS - The New York Times

Stocks Soar on Merrill Report and Economic Data

Talks of an investment in Merrill Lynch and a strong report on consumer spending lifted investors’ spirits. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

The Year of Puncturing Wall Street Orthodoxy

This year the leaders of some of the world’s most respected financial institutions have been caught either unaware or uninformed about giant risks their companies took. Read more..

By JENNY ANDERSON - The New York Times

Top Concert Promoter Sets Up a Challenge to Ticketmaster

Concert giant Live Nation is aiming to ramp up its ticket-selling operation, potentially positioning itself to compete with its longtime contractor, Ticketmaster. Read more..

By JEFF LEEDS - The New York Times

U.S. Investigates Chocolate Makers

Several chocolate makers said that they had learned U.S. investigators were looking into industry pricing practices. Read more..

By ANDREW MARTIN - The New York Times

With Detroit Downbeat on 2008, Its Suppliers Are Singing the Blues

Carmakers expect 2008 to be challenging, but hundreds of automotive parts suppliers are anticipating the year ahead to be one of the ugliest ever. Read more..

By NICK BUNKLEY - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE36,7637,6036,6537,1476M
Cisco SystemsCSCO28,6629,0028,4228,6069.1M
Oracle Corp.ORCL22,3022,7622,2522,7158.2M
AT&T Inc.T40,4741,6740,4041,4839.5M
Wells Fargo & Co.WFC30,5830,7729,8830,3735.3M
JPMorgan ChaseJPM43,7444,1843,3344,1126.4M
Home DepotHD26,3626,9426,2926,6624.5M
Wal-Mart StoresWMT47,8248,5047,8048,2123.2M
Verizon CommunicationsVZ44,2644,7744,0344,3222.6M
Walt Disney & Co.DIS32,7433,0532,2532,9420.4M
Johnson & JohnsonJNJ67,4268,1967,3568,0319.7M
Abbott LaboratoriesABT58,6458,8757,0158,2619.5M
HP Inc.HPQ51,5052,1751,4852,0317.2M
Bristol-Myers SquibbBMY28,1128,1727,8927,9817.1M
Procter & GamblePG73,7574,3373,3474,0816.2M
International Business MachinesIBM109,75111,16109,15111,0513.2M
Gilead SciencesGILD46,4846,5345,8246,4613M
UnitedHealth GroupUNH58,0359,3458,0358,9911.1M
United TechnologiesUTX76,5978,0076,5977,836.67M
Union PacificUNP124,51126,54123,65126,023.51M
Berkshire HathawayBRK.B4420,004475,004398,004475,0027.7K
Exchange Rates of December 21st, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 113,970 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 0,992 CAD1 CAD = 1,008 USD
US DollarSwiss Franc1 USD = 1,155 CHF1 CHF = 0,866 USD
US DollarChinese Yuan1 USD = 7,365 CNY1 CNY = 0,136 USD
EuroJapanese Yen1 EUR = 163,890 JPY1 JPY = 0,006 EUR
EuroPound Sterling1 EUR = 0,725 GBP1 GBP = 1,380 EUR
EuroAustralian Dollar1 EUR = 1,657 AUD1 AUD = 0,604 EUR
EuroCanadian Dollar1 EUR = 1,426 CAD1 CAD = 0,702 EUR
EuroSwiss Franc1 EUR = 1,661 CHF1 CHF = 0,602 EUR
Japanese YenPound Sterling1 JPY = 0,442 GBP1 GBP = 2,262 JPY
Japanese YenAustralian Dollar1 JPY = 1,010 AUD1 AUD = 0,990 JPY
Japanese YenCanadian Dollar1 JPY = 0,870 CAD1 CAD = 1,150 JPY
Japanese YenSwiss Franc1 JPY = 1,013 CHF1 CHF = 0,987 JPY
Pound SterlingAustralian Dollar1 GBP = 2,286 AUD1 AUD = 0,437 GBP
Pound SterlingCanadian Dollar1 GBP = 1,967 CAD1 CAD = 0,508 GBP
Pound SterlingSwiss Franc1 GBP = 2,290 CHF1 CHF = 0,437 GBP
Australian DollarCanadian Dollar1 AUD = 0,860 CAD1 CAD = 1,163 AUD
Australian DollarSwiss Franc1 AUD = 1,002 CHF1 CHF = 0,999 AUD
Canadian DollarSwiss Franc1 CAD = 1,164 CHF1 CHF = 0,859 CAD

See what else happened on December 21st, 2007