Financial news on February 23rd, 2007

Business and Financial news
CBS Reaches Deals With 9 Cable Operators for Compensation to Carry Its Programs

CBS said it concluded a series of agreements with cable system operators that would generate a new stream of revenue for the network. Read more..

By BILL CARTER - The New York Times

Current Hedge Fund Rules Work, Regulators Say

Market discipline will protect investors and the economy from problems with hedge funds, regulators said today. Read more..

By STEPHEN LABATON - The New York Times

Fox Interactive Acquires Technology Ad Company

Fox Interactive Media, the unit of News Corporation that operates MySpace, acquired the Strategic Data Corporation to help increase revenue from the popular social networking site. Read more..

By LOUISE STORY - The New York Times

GQ Hopes to Make the ā€˜Gā€™ Stand for Generosity

Burnishing the image of a brand or company by forging ties with a philanthropy or charity is becoming increasingly popular on Madison Avenue. Read more..

By STUART ELLIOTT - The New York Times

Joseph E. Gallo, 87, Brother Who Left Wine for Cheese, Dies

Joseph E. Gallo was the California cheese maker who battled his winemaking brothers over the use of the family name. Read more..

By MICHAEL J. de la MERCED - The New York Times

MP3 Patents in Upheaval After Verdict

Microsoft was ordered by a federal jury to pay $1.52 billion in a patent dispute over the MP3 format. Read more..

By SAUL HANSELL - The New York Times

Officials Reject More Oversight of Hedge Funds

The Bush administration said there was no need for greater government oversight of the industry. Read more..

By STEPHEN LABATON - The New York Times

Stock Exchanges in a Rush to Forge Links With One Another

The hope is that alliances will set the stage for more substantive ventures in the future. Read more..

By HEATHER TIMMONS - The New York Times

Two Large Advertisers Place Accounts in Review

Hyundai and CareerBuilder will have new agencies because the incumbents are bowing out rather than try to keep the assignments. Read more..

By STUART ELLIOTT - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Oracle Corp.ORCL17.2417.2616.7116.8254.2M
Cisco SystemsCSCO27.3527.6727.3527.5140.6M
General ElectricGE35.3335.3535.0935.1038.2M
Wells Fargo & Co.WFC36.1736.2135.5435.6315.8M
HP Inc.HPQ40.6841.0840.5940.8214.4M
Home DepotHD41.3541.4940.8140.9613.7M
AT&T Inc.T36.9737.1736.8037.0012.2M
Johnson & JohnsonJNJ64.6164.6163.9964.1511.6M
Wal-Mart StoresWMT49.5549.8949.2949.5711.1M
Verizon CommunicationsVZ38.4438.5237.9038.4110.5M
Abbott LaboratoriesABT53.3253.7753.2053.5910.4M
JPMorgan ChaseJPM51.5551.7550.7251.0310M
Bristol-Myers SquibbBMY27.0827.1526.9427.057.59M
Walt Disney & Co.DIS35.1035.2134.9835.147.25M
International Business MachinesIBM98.4098.4497.4197.736.36M
Procter & GamblePG64.7864.9364.4664.825.54M
UnitedHealth GroupUNH54.0854.2952.8853.034.59M
United TechnologiesUTX67.2567.5967.0167.552.62M
Gilead SciencesGILD74.2074.4672.9073.632.44M
Union PacificUNP103.50104.32102.87103.532.06M
Berkshire HathawayBRK.B3575.003575.003547.003562.0016.8K
Exchange Rates of February 23rd, 2007
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 121.060 JPY1 JPY = 0.008 USD
US DollarCanadian Dollar1 USD = 1.160 CAD1 CAD = 0.862 USD
US DollarSwiss Franc1 USD = 1.233 CHF1 CHF = 0.811 USD
US DollarChinese Yuan1 USD = 7.750 CNY1 CNY = 0.129 USD
EuroJapanese Yen1 EUR = 159.390 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.670 GBP1 GBP = 1.492 EUR
EuroAustralian Dollar1 EUR = 1.662 AUD1 AUD = 0.602 EUR
EuroCanadian Dollar1 EUR = 1.526 CAD1 CAD = 0.655 EUR
EuroSwiss Franc1 EUR = 1.623 CHF1 CHF = 0.616 EUR
Japanese YenPound Sterling1 JPY = 0.420 GBP1 GBP = 2.379 JPY
Japanese YenAustralian Dollar1 JPY = 1.042 AUD1 AUD = 0.959 JPY
Japanese YenCanadian Dollar1 JPY = 0.957 CAD1 CAD = 1.045 JPY
Japanese YenSwiss Franc1 JPY = 1.018 CHF1 CHF = 0.983 JPY
Pound SterlingAustralian Dollar1 GBP = 2.480 AUD1 AUD = 0.403 GBP
Pound SterlingCanadian Dollar1 GBP = 2.277 CAD1 CAD = 0.439 GBP
Pound SterlingSwiss Franc1 GBP = 2.420 CHF1 CHF = 0.413 GBP
Australian DollarCanadian Dollar1 AUD = 0.918 CAD1 CAD = 1.090 AUD
Australian DollarSwiss Franc1 AUD = 0.975 CHF1 CHF = 1.025 AUD
Canadian DollarSwiss Franc1 CAD = 1.063 CHF1 CHF = 0.941 CAD

See what else happened on February 23rd, 2007