Financial news on June 22, 2010

Business and Financial news
A K.K.R. Executive Goes Back to School

Kenneth W. Freeman, an executive at Kohlberg Kravis Roberts, is leaving buyouts for books as he prepares to become the next dean of Boston University’s School of Management. Read more..

By DEALBOOK - The New York Times

Andreessen Horowitz Grows Up

Andreessen Horowitz, the venture capital firm that was started just one year ago, has already made a name for itself in Silicon Valley and is building a new kind of venture capital firm in the process, Claire Cain Miller at Bits reports. Read more..

By DEALBOOK - The New York Times

Citi Goes Hollywood for Spacey and Crew

Citigroup turned Hollywood last week, hosting Kevin Spacey as he prepares for a role in a new indie film set during the financial crisis. Read more..

By ERIC DASH - The New York Times

CVC Said to Take Stake in Merlin Entertainment

CVC Capital Partners is in talks to take a 30 percent stake in Merlin Entertainments, as rival private equity firm the Blackstone Group looks to reduce its stake in the business, Reuters reported. Read more..

By DEALBOOK - The New York Times

Despite U.S. Plea, European Bank Pushes Austerity

European countries need to keep a sharper eye on one another’s finances, and sanctions against fiscal rule-breakers should kick in automatically, the European Central Bank president, Jean-Claude Trichet, said on Monday. Read more..

By DEALBOOK - The New York Times

France, Germany and U.K. Support Bank Tax

The three largest European countries on Tuesday solidified their commitment to direct bank taxes as part of the build-up to a summit meeting of the Group of 20 countries, where agreement on the matter is far from assured. Read more..

By DEALBOOK - The New York Times

Hedge Funds Said to Back Spyglass to Run MGM

Spyglass Entertainment has emerged as the leading contender to run Metro-Goldwyn-Mayer, after impressing a group of hedge funds holding large amounts of the movie studio’s debt, The Wall Street Journal reported. Read more..

By DEALBOOK - The New York Times

JPMorgan Names Braunstein C.F.O. in Shake-Up

JPMorgan Chase on Tuesday continued to shuffle its top management ranks, including by appointing one of its most senior investment bankers as its new chief financial officer. Read more..

By DEALBOOK - The New York Times

Justices Back Monsanto on Biotech Seed Planting

The Supreme Court overturned a ruling that had barred the planting of modified alfalfa seed from Monsanto until the federal government completed an environmental review. Read more..

By ANDREW POLLACK - The New York Times

When Caution Carries Risk

Ben Bernanke thinks that growth is too slow but that it shouldn’t be accelerated. With unemployment high, that’s risky. Read more..

By DAVID LEONHARDT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
General ElectricGE16.0916.1715.7715.7965M
IntelINTC21.1321.3320.8620.9858.8M
MicrosoftMSFT26.1626.4525.7625.7756M
PfizerPFE15.1515.2414.9714.9743.8M
JPMorgan ChaseJPM38.9339.5838.2238.3342.2M
Cisco SystemsCSCO23.3223.6522.9222.9742.1M
Wells Fargo & Co.WFC28.0328.3327.4327.4633.7M
ComcastCMCSA18.4118.6618.2318.2426.9M
ExxonMobilXOM63.1363.2061.7961.9426.1M
AT&T Inc.T25.4325.6025.2925.3625.8M
AppleAAPL272.16275.97271.50273.8525.6M
Home DepotHD31.4631.6030.5330.6122.9M
Oracle Corp.ORCL23.2423.4922.8822.8919.1M
MerckMRK35.1935.7235.0735.1316.4M
Verizon CommunicationsVZ29.1129.3829.0129.0615.8M
SchlumbergerSLB60.3360.5658.1958.2615.1M
ConocoPhillipsCOP55.7056.1954.2554.4614.8M
Johnson & JohnsonJNJ59.2560.0959.1259.1613.8M
Wal-Mart StoresWMT51.0751.4750.6050.6813.7M
HP Inc.HPQ47.5248.0046.7046.7713.2M
Procter & GamblePG61.0661.6560.6960.7213.2M
AltriaMO20.0520.1519.7819.8512.5M
Abbott LaboratoriesABT48.3248.7147.9547.9912.4M
VisaV81.0081.0078.6378.7611.7M
Bristol-Myers SquibbBMY25.4125.7825.3825.4410.9M
ChevronCVX75.4575.7273.8874.0010.6M
Coca-ColaKO52.4653.0852.4352.4610.4M
Gilead SciencesGILD35.9336.7935.8435.9110.3M
Walt Disney & Co.DIS35.1235.4634.2934.359.73M
Berkshire HathawayBRK.B79.5480.3279.1179.539.06M
UnitedHealth GroupUNH31.1131.3430.5830.646.58M
AmazonAMZN122.65125.23121.55122.316.21M
International Business MachinesIBM130.37131.47129.07129.306.03M
PepsicoPEP64.0364.2563.1863.305.98M
AmgenAMGN56.3457.2056.0456.125.82M
McDonald'sMCD70.0170.3768.5568.645.49M
AlphabetGOOGL489.90496.60485.73486.254.43M
United TechnologiesUTX69.3069.6767.8567.994.2M
BoeingBA67.9768.4766.1566.284.19M
Union PacificUNP76.7676.8773.6373.834.13M
3MMMM81.7181.8779.8880.033.12M
Exchange Rates of June 22, 2010
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 90.480 JPY1 JPY = 0.011 USD
US DollarCanadian Dollar1 USD = 1.029 CAD1 CAD = 0.972 USD
US DollarSwiss Franc1 USD = 1.107 CHF1 CHF = 0.903 USD
US DollarChinese Yuan1 USD = 6.814 CNY1 CNY = 0.147 USD
EuroJapanese Yen1 EUR = 111.020 JPY1 JPY = 0.009 EUR
EuroPound Sterling1 EUR = 0.829 GBP1 GBP = 1.207 EUR
EuroAustralian Dollar1 EUR = 1.407 AUD1 AUD = 0.711 EUR
EuroCanadian Dollar1 EUR = 1.262 CAD1 CAD = 0.792 EUR
EuroSwiss Franc1 EUR = 1.359 CHF1 CHF = 0.736 EUR
EuroChinese Yuan1 EUR = 8.356 CNY1 CNY = 0.120 EUR
Japanese YenPound Sterling1 JPY = 0.746 GBP1 GBP = 1.340 JPY
Japanese YenAustralian Dollar1 JPY = 1.268 AUD1 AUD = 0.789 JPY
Japanese YenCanadian Dollar1 JPY = 1.136 CAD1 CAD = 0.880 JPY
Japanese YenSwiss Franc1 JPY = 1.224 CHF1 CHF = 0.817 JPY
Pound SterlingAustralian Dollar1 GBP = 1.699 AUD1 AUD = 0.589 GBP
Pound SterlingCanadian Dollar1 GBP = 1.523 CAD1 CAD = 0.657 GBP
Pound SterlingSwiss Franc1 GBP = 1.640 CHF1 CHF = 0.610 GBP
Pound SterlingChinese Yuan1 GBP = 10.076 CNY1 CNY = 0.099 GBP
Australian DollarCanadian Dollar1 AUD = 0.896 CAD1 CAD = 1.116 AUD
Australian DollarSwiss Franc1 AUD = 0.965 CHF1 CHF = 1.036 AUD
Australian DollarChinese Yuan1 AUD = 5.933 CNY1 CNY = 0.169 AUD
Canadian DollarSwiss Franc1 CAD = 1.076 CHF1 CHF = 0.929 CAD
Canadian DollarChinese Yuan1 CAD = 6.620 CNY1 CNY = 0.151 CAD
Swiss FrancChinese Yuan1 CHF = 6.149 CNY1 CNY = 0.163 CHF

See what else happened on June 22, 2010