Financial news on July 21, 2010

Business and Financial news
A.I.G.: The First Test of Financial Reform?

The Deal Professor explores how the government could use its new resolution authority to put the American International Group into receivership if it did choose to do so. Read more..

By STEVEN DAVIDOFF SOLOMON - The New York Times

BlackRock Posts 35% Gain in Earnings

BlackRock, the world’s largest money manager, posted a better-than-expected 35 percent increase in second-quarter earnings. Read more..

By DEALBOOK - The New York Times

Greek Rail System’s Debt Adds to Economic Woes

The state-owned railway loses about $3.8 million a day, prompting a search for solutions: maybe a foreign investor or a complete overhaul. Read more..

By LANDON THOMAS Jr - The New York Times

Lover’s Woe

Bean or Bench? Today we need both, in French! Read more..

By JIM HORNE - The New York Times

Sara Lee Said to Ponder Auction of Bread Unit

Is Sara Lee cooking up an auction of its bread and bakery division? According to press reports, the food giant is mulling a sale of the unit, which includes the largest fresh-bread brand in the U.S. Read more..

By DEALBOOK - The New York Times

Tough Stretch Causes Poor 2nd Quarter at Goldman

The “flash crash” and the rest of the stock market madness in May and June resulted in Goldman’s worst quarterly performance since the depths of the financial crisis in late 2008, and the first time that it has missed analysts’ estimates in five years. Read more..

By DEALBOOK - The New York Times

Trading Results Help Lift Morgan Stanley

The bank reported a profit from continuing operations of $1.46 billion, topping analysts’ expectations. Read more..

By DEALBOOK - The New York Times

Wall Street Ends the Day Higher

Stocks closed a lightly traded session higher Tuesday despite disappointing earnings from Goldman Sachs and Johnson & Johnson. Read more..

By DEALBOOK - The New York Times

Wal-Mart and Sequoia Set for 801% Gain From I.P.O.

Green Dot’s executives are seeking an initial public offering that hands Wal-Mart Stores a ninefold paper gain in the debit-card seller, asking for a higher price than investors pay for any of its rivals, Bloomberg News reports. Read more..

By DEALBOOK - The New York Times

With Sale of Assets, BP Bets on More Deep Wells

The company agreed to sell $7 billion of oil and gas fields to the Apache Corporation. The move will help raise the $20 billion it said it would put in escrow to pay claims for the oil spill. Read more..

By JAD MOUAWAD - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 25.60 25.65 24.98 25.12 73.3M
Intel INTC 21.57 21.65 21.18 21.26 71.8M
Wells Fargo & Co. WFC 27.53 27.60 25.97 26.06 70.9M
General Electric GE 15.11 15.20 14.64 14.84 65M
Cisco Systems CSCO 23.06 23.22 22.40 22.56 45.8M
Apple AAPL 265.09 265.15 254.00 254.24 42.3M
Pfizer PFE 14.55 14.72 14.42 14.50 42.3M
JPMorgan Chase JPM 40.25 40.25 38.34 38.42 41.1M
Oracle Corp. ORCL 23.86 23.97 23.46 23.56 38.7M
Comcast CMCSA 18.85 18.87 18.11 18.35 35.2M
Gilead Sciences GILD 32.58 33.44 31.73 32.91 30.1M
AT&T Inc. T 24.89 25.17 24.73 24.92 29M
ExxonMobil XOM 59.13 59.13 57.60 58.17 26.9M
Johnson & Johnson JNJ 58.80 58.80 56.87 57.12 25.7M
Verizon Communications VZ 26.80 26.81 26.41 26.52 20.6M
Coca-Cola KO 53.50 54.79 53.28 54.08 18.2M
HP Inc. HPQ 46.61 46.75 45.27 45.48 17.7M
Home Depot HD 27.78 28.01 27.35 27.47 17.2M
Procter & Gamble PG 61.72 61.82 60.86 61.11 14.9M
Altria MO 21.70 21.70 21.26 21.41 13.6M
Merck MRK 35.48 35.69 34.98 35.19 12.8M
Schlumberger SLB 61.25 61.50 58.91 59.59 12.5M
Wal-Mart Stores WMT 51.00 51.00 50.11 50.35 12.3M
ConocoPhillips COP 53.08 53.13 51.65 52.12 11.4M
Walt Disney & Co. DIS 33.47 33.60 32.63 32.81 10.2M
Bristol-Myers Squibb BMY 24.92 25.11 24.59 24.75 9.83M
Chevron CVX 73.33 73.55 71.57 72.17 9.05M
UnitedHealth Group UNH 30.85 31.13 30.58 30.70 8.88M
Pepsico PEP 64.78 64.98 63.67 63.95 8.69M
International Business Machines IBM 126.44 126.50 124.62 125.27 8.62M
United Technologies UTX 67.67 68.73 66.53 67.03 6.6M
Alphabet GOOGL 484.00 485.70 475.43 477.50 6.55M
Amgen AMGN 53.10 53.31 52.09 52.25 6.02M
Berkshire Hathaway BRK.B 78.52 78.70 76.21 76.63 5.78M
McDonald's MCD 70.93 71.00 69.65 70.11 5.73M
Amazon AMZN 120.62 121.25 117.26 117.43 5.01M
3M MMM 82.64 83.11 81.34 82.30 4.99M
Boeing BA 64.40 64.81 62.67 63.18 4.46M
Union Pacific UNP 70.68 70.68 68.29 69.12 4.02M
Visa V 73.99 74.01 71.93 72.36 3.98M
Abbott Laboratories ABT 47.65 49.38 47.65 48.68 3.52M
Exchange Rates of July 21, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 86.940 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.049 CAD 1 CAD = 0.953 USD
US Dollar Swiss Franc 1 USD = 1.051 CHF 1 CHF = 0.952 USD
US Dollar Chinese Yuan 1 USD = 6.778 CNY 1 CNY = 0.148 USD
Euro Japanese Yen 1 EUR = 110.880 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.841 GBP 1 GBP = 1.189 EUR
Euro Australian Dollar 1 EUR = 1.454 AUD 1 AUD = 0.688 EUR
Euro Canadian Dollar 1 EUR = 1.338 CAD 1 CAD = 0.748 EUR
Euro Swiss Franc 1 EUR = 1.340 CHF 1 CHF = 0.746 EUR
Euro Chinese Yuan 1 EUR = 8.645 CNY 1 CNY = 0.116 EUR
Japanese Yen Pound Sterling 1 JPY = 0.758 GBP 1 GBP = 1.320 JPY
Japanese Yen Australian Dollar 1 JPY = 1.311 AUD 1 AUD = 0.763 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.206 CAD 1 CAD = 0.829 JPY
Japanese Yen Swiss Franc 1 JPY = 1.209 CHF 1 CHF = 0.827 JPY
Pound Sterling Australian Dollar 1 GBP = 1.730 AUD 1 AUD = 0.578 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.591 CAD 1 CAD = 0.629 GBP
Pound Sterling Swiss Franc 1 GBP = 1.594 CHF 1 CHF = 0.628 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.276 CNY 1 CNY = 0.097 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.920 CAD 1 CAD = 1.087 AUD
Australian Dollar Swiss Franc 1 AUD = 0.921 CHF 1 CHF = 1.086 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.942 CNY 1 CNY = 0.168 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.001 CHF 1 CHF = 0.999 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.458 CNY 1 CNY = 0.155 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.450 CNY 1 CNY = 0.155 CHF

See what else happened on July 21, 2010