Financial news on August 23rd, 2013

Business and Financial news
Ad Revenue From Mobile for Pandora Increases

Pandora Media reports second-quarter loss of $7.8 million, or 4 cents a share; revenue rose 55 percent to $157.4 million. Read more..

By BEN SISARIO - The New York Times

Andorra Draws Home Buyers Despite Tax Law

Real estate agents feared that new taxes taking effect in 2016 would compound the property slump in the country, but there has been no evidence of such effects. Read more..

By LAURA LATHAM - International Herald Tribune

A Silicon Valley for Ad Agencies, Only in the Mountains

Advertising column; agency holding group Project WorldWide is opening an agency in Boulder, Colo, which is developing a reputation as a home for advertising start-ups. Read more..

By STUART ELLIOTT - The New York Times

Ballmer Exit Brings Microsoft a Chance for Reinvention

Steven A. Ballmer’s departure paves the way for a generational change at Microsoft and gives it an opportunity to adapt to a world dominated by technologies that have eluded its influence. Read more..

By NICK WINGFIELD - The New York Times

CBS Trumpets Deal With FiOS TV in Jab at Time Warner Cable

The deal was “reached swiftly and amicably,” said CBS’s president, Leslie Moonves, even as a stand-off with Time Warner Cable persisted. Read more..

By BILL CARTER - The New York Times

Chinese Manufacturing Grows More Than Expected

The surprise rise in the purchasing managers’ index in August provided the latest indication that the world’s second-largest economy appears to have bottomed out after months of slowing growth. Read more..

By BETTINA WASSENER - The New York Times

How BlackBerry Handled Past Wealth

Floyd Norris High & Low Finance column looks back at BlackBerry in its heyday, as company's current fortunes spiral down; holds that while its executives did well, loyal shareholders received little reward; says expectation is that company will be acquired for its cash and patents while the product responsible for its success will vanish. Read more..

By FLOYD NORRIS - The New York Times

Lew Wood, TV Newsman, Dies at 84

Lew Wood, former CBS News correspondent who covered Pres John F Kennedy's assassination and later was news anchor on the Today show at NBC, dies at age 84. Read more..


Sears, Facing Weak Sales and Internal Strains, Posts Loss

Sears Holdings Corp reports second-quarter loss as it continues to struggle with weak sales and deep discounts. Read more..


Wain Kellum of Vocalocity on Winning Over Employees

Adam Bryant Corner Office column features interview with Wain Kellum, chief executive of Internet-based business phone service Vocalocity, discussing his management technique. Read more..

By ADAM BRYANT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO24,0724,1723,8423,8641.3M
AT&T Inc.T33,8134,3333,7534,2929.7M
Oracle Corp.ORCL32,3832,6631,7731,7727.1M
HP Inc.HPQ22,2222,4522,0722,4022.1M
General ElectricGE23,8323,8523,6423,7820.7M
Wells Fargo & Co.WFC42,6842,8342,3542,7612.2M
JPMorgan ChaseJPM52,2752,4351,9052,3211.1M
Home DepotHD74,1574,2073,1173,897.73M
Johnson & JohnsonJNJ87,9388,4487,2188,417.71M
General MotorsGM35,1435,2234,8635,067.49M
Verizon CommunicationsVZ47,0247,7046,9547,616.78M
Bristol-Myers SquibbBMY41,7642,3441,6742,246.67M
Gilead SciencesGILD59,9960,1259,4759,646.22M
Walt Disney & Co.DIS61,9661,9961,4661,735.51M
Wal-Mart StoresWMT73,6573,7573,0373,445.47M
Procter & GamblePG79,8780,0779,5980,015.22M
Abbott LaboratoriesABT34,8534,8734,4334,844.02M
UnitedHealth GroupUNH72,0172,7271,9172,543.22M
Berkshire HathawayBRK.B115,00115,09114,08114,272.95M
United TechnologiesUTX103,00103,75102,65102,802.61M
International Business MachinesIBM185,34185,74184,57185,422.29M
Union PacificUNP158,79158,79156,93158,061.27M
Exchange Rates of August 23rd, 2013
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 98,710 JPY1 JPY = 0,010 USD
US DollarCanadian Dollar1 USD = 1,050 CAD1 CAD = 0,953 USD
US DollarSwiss Franc1 USD = 0,922 CHF1 CHF = 1,085 USD
US DollarChinese Yuan1 USD = 6,121 CNY1 CNY = 0,163 USD
EuroJapanese Yen1 EUR = 132,100 JPY1 JPY = 0,008 EUR
EuroPound Sterling1 EUR = 0,859 GBP1 GBP = 1,164 EUR
EuroAustralian Dollar1 EUR = 1,482 AUD1 AUD = 0,675 EUR
EuroCanadian Dollar1 EUR = 1,404 CAD1 CAD = 0,712 EUR
EuroSwiss Franc1 EUR = 1,233 CHF1 CHF = 0,811 EUR
EuroChinese Yuan1 EUR = 8,190 CNY1 CNY = 0,122 EUR
Japanese YenPound Sterling1 JPY = 0,650 GBP1 GBP = 1,538 JPY
Japanese YenAustralian Dollar1 JPY = 1,122 AUD1 AUD = 0,892 JPY
Japanese YenCanadian Dollar1 JPY = 1,063 CAD1 CAD = 0,941 JPY
Japanese YenSwiss Franc1 JPY = 0,934 CHF1 CHF = 1,071 JPY
Pound SterlingAustralian Dollar1 GBP = 1,725 AUD1 AUD = 0,580 GBP
Pound SterlingCanadian Dollar1 GBP = 1,634 CAD1 CAD = 0,612 GBP
Pound SterlingSwiss Franc1 GBP = 1,435 CHF1 CHF = 0,697 GBP
Pound SterlingChinese Yuan1 GBP = 9,529 CNY1 CNY = 0,105 GBP
Australian DollarCanadian Dollar1 AUD = 0,946 CAD1 CAD = 1,057 AUD
Australian DollarSwiss Franc1 AUD = 0,831 CHF1 CHF = 1,204 AUD
Australian DollarChinese Yuan1 AUD = 5,523 CNY1 CNY = 0,181 AUD
Canadian DollarSwiss Franc1 CAD = 0,877 CHF1 CHF = 1,140 CAD
Canadian DollarChinese Yuan1 CAD = 5,831 CNY1 CNY = 0,171 CAD
Swiss FrancChinese Yuan1 CHF = 6,640 CNY1 CNY = 0,151 CHF

See what else happened on August 23rd, 2013