Financial news on May 21, 2010

Business and Financial news
Asian Stocks Drop Sharply After Big Fall in U.S.

Fears that the fragile economic recovery in the United States might be threatened by the financial and political crisis in Europe gripped Wall Street on Thursday, sending the stock market into a sharp decline and leaving anxious traders wondering where the pain might stop. Read more..

By DEALBOOK - The New York Times

Figures Suggest Japan’s Recovery Is Gaining Strength

The Japanese economy grew at a healthy clip of 1.2 percent in the first quarter, hinting that Japan’s recovery is finally gathering momentum. Read more..

By HIROKO TABUCHI - International Herald Tribune

German Parliament Approves $1 Trillion Rescue

The German parliament, the Bundestag, voted Friday to approve the 750 billion euro rescue package that was proposed by the European Union and the International Monetary Fund last week. Read more..

By CHRIS V. NICHOLSON - The New York Times

Goldman Chief Regrets Leveraged Transactions

Lloyd C. Blankfein, chief executive of Goldman Sachs, regrets the bank’s participation in the leverage rush that marked the go-go days of the buyout boom, he said in an interview with India’s Economic Times. Read more..

By DEALBOOK - The New York Times

John Burton, a Columbia Dean, Dies at 77

Mr. Burton was a Columbia University administrator who also was an accountant and a public servant in Washington and New York. Read more..

By BRUCE WEBER - The New York Times

Morning Take-Out

Nothing but big votes in the last 24 hours — first in the Senate, then in the German Bundestag — and they all signal that proposals are moving forward, even if critics on both sides of the Atlantic might snipe that neither the financial reform bill nor the euro zone rescue goes far enough. Read more..

By DEALBOOK - The New York Times

Obama to Mandate Rules to Raise Fuel Standards

New rules to be ordered by President Obama seek to create an aggressive national policy requiring cars and trucks to get better gas mileage with fewer pollutants. Read more..

By PETER BAKER - The New York Times

Spitzer’s Name Arises as CNN Tries to Fill a Seat

The former governor of New York has contributed commentary on CNN and been a fill-in anchor on MSNBC, feeding speculation that he might land a permanent TV job. Read more..

By BRIAN STELTER - The New York Times

Toyota and Tesla to Partner on Electric Cars

Tesla Motors and Toyota Motor announced on Thursday that Tesla had bought the recently closed Nummi assembly plant in Fremont, Calif., where it intends to make its Model S luxury electric sedan and other future models. Read more..

By DEALBOOK - The New York Times

Treasury Hires Lazard to Advise on a G.M. I.P.O.

The Treasury Department has hired Lazard to advise on a potential initial public offering of the government’s stake in General Motors. 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
General Electric GE 15.70 16.43 15.65 16.42 146M
Microsoft MSFT 26.63 27.11 26.44 26.84 118M
Intel INTC 20.41 21.17 20.18 20.91 112M
Pfizer PFE 14.99 15.42 14.96 15.40 102M
JPMorgan Chase JPM 37.02 40.16 37.02 40.05 89.6M
Wells Fargo & Co. WFC 28.05 30.30 28.05 30.11 88.2M
Cisco Systems CSCO 22.67 23.51 22.56 23.46 88.2M
Oracle Corp. ORCL 21.62 22.36 21.55 22.16 63.1M
AT&T Inc. T 24.36 24.87 24.36 24.85 54.3M
ExxonMobil XOM 59.16 60.95 59.16 60.88 52.8M
Apple AAPL 232.82 244.50 231.35 242.32 43.7M
Verizon Communications VZ 27.37 27.98 27.32 27.96 37.2M
Home Depot HD 32.26 33.48 32.25 33.02 36M
Comcast CMCSA 16.45 17.78 16.36 17.03 35.3M
Abbott Laboratories ABT 45.48 46.98 45.26 46.94 34.5M
Altria MO 20.45 21.03 20.20 21.01 32.6M
HP Inc. HPQ 44.96 46.81 44.80 46.58 27.8M
Merck MRK 31.20 32.15 31.04 32.04 25.5M
Wal-Mart Stores WMT 50.73 51.37 50.51 51.37 24.5M
ConocoPhillips COP 49.93 51.51 49.74 51.47 23.9M
Procter & Gamble PG 60.40 61.88 60.37 61.85 23.2M
Johnson & Johnson JNJ 59.78 60.96 59.51 60.88 21.8M
Schlumberger SLB 57.79 60.67 57.55 60.50 21.5M
Walt Disney & Co. DIS 31.40 32.87 31.40 32.87 20.1M
Visa V 72.01 76.00 72.01 74.20 19.9M
Alphabet GOOGL 469.06 485.00 464.40 472.05 19.4M
Gilead Sciences GILD 36.38 37.18 36.09 36.57 19.3M
Bristol-Myers Squibb BMY 22.90 23.05 22.50 22.96 17.8M
Coca-Cola KO 50.84 51.72 50.30 51.59 17.1M
Chevron CVX 72.35 74.65 72.00 74.48 15.9M
Pepsico PEP 63.21 63.64 62.14 63.58 14.6M
International Business Machines IBM 122.16 125.61 121.40 125.42 12.6M
McDonald's MCD 67.07 68.04 65.55 67.86 12.6M
UnitedHealth Group UNH 28.54 29.07 28.16 28.70 11.5M
Berkshire Hathaway BRK.B 71.14 73.25 70.00 73.01 10.9M
Boeing BA 61.99 65.00 61.39 64.56 10.9M
United Technologies UTX 64.58 67.11 64.58 66.44 10.6M
Amgen AMGN 52.19 53.49 51.82 52.44 10.5M
Amazon AMZN 117.90 124.97 117.52 122.72 7.97M
Union Pacific UNP 65.99 70.33 65.99 69.75 6.79M
3M MMM 78.42 80.77 78.14 80.70 6.49M
Exchange Rates of May 21, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 90.000 JPY 1 JPY = 0.011 USD
US Dollar Canadian Dollar 1 USD = 1.059 CAD 1 CAD = 0.944 USD
US Dollar Swiss Franc 1 USD = 1.149 CHF 1 CHF = 0.870 USD
US Dollar Chinese Yuan 1 USD = 6.827 CNY 1 CNY = 0.146 USD
Euro Japanese Yen 1 EUR = 113.140 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.869 GBP 1 GBP = 1.150 EUR
Euro Australian Dollar 1 EUR = 1.509 AUD 1 AUD = 0.663 EUR
Euro Canadian Dollar 1 EUR = 1.331 CAD 1 CAD = 0.751 EUR
Euro Swiss Franc 1 EUR = 1.445 CHF 1 CHF = 0.692 EUR
Euro Chinese Yuan 1 EUR = 8.583 CNY 1 CNY = 0.117 EUR
Japanese Yen Pound Sterling 1 JPY = 0.768 GBP 1 GBP = 1.303 JPY
Japanese Yen Australian Dollar 1 JPY = 1.334 AUD 1 AUD = 0.750 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.176 CAD 1 CAD = 0.851 JPY
Japanese Yen Swiss Franc 1 JPY = 1.276 CHF 1 CHF = 0.784 JPY
Pound Sterling Australian Dollar 1 GBP = 1.735 AUD 1 AUD = 0.576 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.531 CAD 1 CAD = 0.653 GBP
Pound Sterling Swiss Franc 1 GBP = 1.662 CHF 1 CHF = 0.602 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.866 CNY 1 CNY = 0.101 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.882 CAD 1 CAD = 1.134 AUD
Australian Dollar Swiss Franc 1 AUD = 0.956 CHF 1 CHF = 1.046 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.688 CNY 1 CNY = 0.176 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.085 CHF 1 CHF = 0.922 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.443 CNY 1 CNY = 0.155 CAD
Swiss Franc Chinese Yuan 1 CHF = 5.937 CNY 1 CNY = 0.168 CHF

See what else happened on May 21, 2010