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