Financial news on February 24th, 2006

Business and Financial news
Dana Said to Hire Restructuring Firm; Shares Plunge

Auto-parts maker Dana Corp. saw its stock price cut in half on Friday following a report that the company has begun working with restructuring firm Miller Buckfire & Co. LLC. A Dana spokesman wouldn’t comment on the matter, but investors ran for the door, sending the company’s shares plunging to $1.51, down 52%, by the […] Read more..

By DEALBOOK - The New York Times

Deutsche Said to Seek Settlement

Deutsche Bank is in talks with the Justice Department in an effort to settle a criminal investigation over the bank’s role in questionable tax shelters, The New York Times reported. For Deutsche Bank, the path toward a settlement may be rockier than previous tax shelter settlements, in part because it had a much larger role […] Read more..

By DEALBOOK - The New York Times

KLA-Tencor Buys ADE for $488 Million

KLA-Tencor Corp., the No .2 U.S. chip-equipment maker, is buying ADE Corp. for about $488 million in stock, the companies said Thursday. Go to Article from MarketWatch Read more..

By DEALBOOK - The New York Times

Lonmin Says Potential Takeover Talks Fell Through

Lonmin Plc, the world’s third-largest platinum producer, said talks that may have led to a takeover bid have been terminated. The company’s shares plunged. Go to Article from Bloomberg News Read more..

By DEALBOOK - The New York Times

Shell Linked to Takeover of Wind Turbine Firm

The oil major Shell was linked yesterday to a possible $3.5 billion takeover of a leading wind turbine manufacturer, adding to the excitement around the alternative energy sector. Go to Article from The Guardian Read more..

By DEALBOOK - The New York Times

Takeover Chatter Breathes Life into Barclays

Barclays got the banks’ reporting season off to a flying start this week, and the Collins Stewart Tullett analyst Sandy Chen reckons the group is the only UK bank that is a serious contender to be taken over. Go to Article from The Independent Read more..

By DEALBOOK - The New York Times

Turner Walks from Time Warner Board; More Room for Icahn?

Days after Time Warner Inc. reached a truce with activist investor Carl Icahn, the media conglomerate announced that longtime board member Ted Turner wouldn’t stand for re-election as director this year. The company also said that board member Carla A. Hills will also step down under the board’s retirement policy. The moves have the convenient […] Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO19.7019.9119.6819.8537.4M
Oracle Corp.ORCL12.3912.4912.3812.4631.3M
General ElectricGE33.2533.3133.0233.1418.3M
AT&T Inc.T27.9628.0727.4227.5713.2M
Walt Disney & Co.DIS27.7127.9927.6127.9812M
Johnson & JohnsonJNJ58.6958.6957.4257.7610.4M
HP Inc.HPQ32.4632.4631.8032.0210M
Wal-Mart StoresWMT45.7045.7545.2645.459.65M
JPMorgan ChaseJPM40.9441.8340.8741.669.29M
Abbott LaboratoriesABT43.4144.2543.3043.958.63M
Verizon CommunicationsVZ34.0634.2033.6333.818.6M
Home DepotHD41.8041.8741.0641.637.27M
Procter & GamblePG61.3261.7361.0661.505.61M
Bristol-Myers SquibbBMY23.1723.2922.9022.975.52M
UnitedHealth GroupUNH59.1059.4658.5158.895.35M
Wells Fargo & Co.WFC64.6464.8364.3264.574M
International Business MachinesIBM80.6580.6579.8580.103.9M
United TechnologiesUTX58.3559.1558.0758.892.48M
Gilead SciencesGILD61.4161.9960.2161.662.22M
Union PacificUNP88.5089.0587.7888.46626K
Berkshire HathawayBRK.B2888.002888.002871.002879.008.6K
Exchange Rates of February 24th, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 116.850 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 1.148 CAD1 CAD = 0.871 USD
US DollarSwiss Franc1 USD = 1.317 CHF1 CHF = 0.759 USD
US DollarChinese Yuan1 USD = 8.041 CNY1 CNY = 0.124 USD
EuroJapanese Yen1 EUR = 138.760 JPY1 JPY = 0.007 EUR
EuroPound Sterling1 EUR = 0.680 GBP1 GBP = 1.470 EUR
EuroAustralian Dollar1 EUR = 1.606 AUD1 AUD = 0.623 EUR
EuroCanadian Dollar1 EUR = 1.363 CAD1 CAD = 0.734 EUR
EuroSwiss Franc1 EUR = 1.564 CHF1 CHF = 0.639 EUR
Pound SterlingAustralian Dollar1 GBP = 2.360 AUD1 AUD = 0.424 GBP
Pound SterlingCanadian Dollar1 GBP = 2.003 CAD1 CAD = 0.499 GBP
Pound SterlingSwiss Franc1 GBP = 2.299 CHF1 CHF = 0.435 GBP
Australian DollarCanadian Dollar1 AUD = 0.849 CAD1 CAD = 1.179 AUD
Australian DollarSwiss Franc1 AUD = 0.974 CHF1 CHF = 1.027 AUD

See what else happened on February 24th, 2006