Financial news on October 24, 2014

Business and Financial news
Amazon’s Investments Are Piling Up, as Big Losses

Amazon shares tumble 10.7 percent, shaving about $15 billion from overall valuation, as company reports worse-than-expected financial performance in the third quarter; reports that revenue was some $260 million below analyst expectations, predicting growth of 7 to 18 percent in the fourth quarter, down from 20 in year-earlier period; disappointing results reflect declining media sales, heavy investment and the growing effect of its take-no-prisoners relationship with suppliers. Read more..

By DAVID STREITFELD - The New York Times

A Tech Twist on Home for the Holidays

Advertising column; growth in marketing efforts for connected-home products like thermostats, security cameras and smart lights is being fueled by growth of industry and insatiable demand among consumers for new technology. Read more..

By STUART ELLIOTT - The New York Times

Banks Again Avoid Having Any Skin in the Game

The Dodd-Frank overhaul aimed for banks to make loans with enough “risk-retention” to make them care about repayment, but the final rules appear to fall short of that, writes Floyd Norris of The New York Times. Read more..

By DEALBOOK - The New York Times

Charles Munger, Warren Buffett's Longtime Business Partner, Makes $65 Million Gift

The gift — the largest in the school’s history — will go toward building a 61-bed residence for visitors to the Kavli Institute for Theoretical Physics, which brings together physicists for weeks at a time to exchange ideas. Read more..

By MICHAEL J. DE LA MERCED - The New York Times

Morning Agenda: A Hedge Fund Drawn to Lost Causes

A hedge fund has emerged as perhaps the last hope for two struggling retails. | Bankers are jockeying for the next sovereign debt deal in Africa, despite plenty of risks. | Shareholders decide today whether to approve Chiquita’s plan to acquire an Irish rival. | Charles T. Munger gives to theoretical physics. Read more..

By WILLIAM ALDEN - The New York Times

Procter & Gamble's Step in the Right Direction

The Duracell spinoff may be more valuable for the signal it telegraphs, Kevin Allison of Reuters Breakingviews writes. Read more..

By KEVIN ALLISON - The New York Times

Rebekah Brooks, Former British Tabloid Executive, Exploring Work in U.S.

Ms. Brooks, who left Rupert Murdoch’s British newspaper empire after a phone hacking scandal, is said to be talking to News Corporation in New York. Read more..

By RAVI SOMAIYA - The New York Times

Shining a Light on Nosy Apps

Plus, creating a fund-raising page on Facebook. Read more..

By J. D. BIERSDORFER - The New York Times

Today in Small Business: Dubious Excuses for Calling in Sick

What’s the worst excuse for calling in sick you have ever heard? Read more..

By GENE MARKS - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 46.83 46.90 45.18 46.13 61.1M
Apple AAPL 105.18 105.49 104.53 105.22 47.1M
Facebook FB 80.20 80.82 79.32 80.67 32.2M
General Motors GM 31.04 31.28 29.98 30.04 30.3M
AT&T Inc. T 33.62 33.94 33.32 33.87 29.8M
Pfizer PFE 28.80 29.27 28.71 29.11 28.4M
Intel INTC 32.72 33.33 32.57 33.18 27.8M
Comcast CMCSA 53.69 54.67 53.43 54.26 22.4M
General Electric GE 25.44 25.65 25.41 25.64 20.6M
Cisco Systems CSCO 23.60 23.80 23.46 23.78 19.9M
Amazon AMZN 284.40 293.81 284.00 287.06 19.8M
Gilead Sciences GILD 107.53 111.47 106.60 110.71 15.1M
JPMorgan Chase JPM 58.00 58.78 58.00 58.74 13.8M
Verizon Communications VZ 48.22 49.11 48.10 48.77 13.5M
Procter & Gamble PG 85.10 85.97 84.91 85.16 13.5M
Coca-Cola KO 40.98 41.27 40.92 41.03 13.4M
HP Inc. HPQ 35.00 35.42 34.74 34.93 12.7M
Wells Fargo & Co. WFC 50.58 51.25 50.55 51.20 10.9M
ExxonMobil XOM 94.19 94.53 93.22 94.49 9.74M
Bristol-Myers Squibb BMY 52.56 54.36 52.48 53.63 9.03M
Oracle Corp. ORCL 38.32 38.74 38.25 38.73 8.98M
Merck MRK 56.80 57.66 56.63 57.61 8.56M
Schlumberger SLB 98.20 98.20 96.28 97.24 7.49M
International Business Machines IBM 162.08 162.44 161.45 162.08 6.65M
Johnson & Johnson JNJ 102.95 103.29 102.21 103.13 5.97M
Chevron CVX 116.19 116.26 114.53 115.91 5.51M
ConocoPhillips COP 69.99 70.26 69.11 70.07 5.42M
Amgen AMGN 146.85 147.50 145.52 147.26 5.32M
McDonald's MCD 90.70 91.79 90.55 91.67 5.26M
Walt Disney & Co. DIS 87.91 88.66 87.58 88.61 4.94M
Home Depot HD 94.60 95.19 94.13 94.99 4.83M
Abbott Laboratories ABT 42.34 42.67 42.12 42.46 4.68M
Union Pacific UNP 112.81 114.62 111.89 114.58 4.52M
Wal-Mart Stores WMT 76.13 76.50 75.50 76.38 4.48M
3M MMM 145.00 148.79 144.81 148.59 4.48M
Boeing BA 122.20 122.84 121.26 122.24 4.02M
Pepsico PEP 93.76 94.79 93.55 94.60 4.01M
Altria MO 47.23 47.50 47.08 47.49 3.67M
United Technologies UTX 103.16 103.87 102.80 103.82 3.66M
UnitedHealth Group UNH 90.66 91.70 90.59 91.64 2.98M
Berkshire Hathaway BRK.B 138.65 139.52 138.37 139.40 2.92M
Visa V 213.63 214.15 211.86 213.48 2.73M
Alphabet GOOGL 554.98 555.00 545.16 548.90 2.18M
Exchange Rates of October 24, 2014
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 108.100 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.123 CAD 1 CAD = 0.890 USD
US Dollar Swiss Franc 1 USD = 0.952 CHF 1 CHF = 1.051 USD
US Dollar Chinese Yuan 1 USD = 6.117 CNY 1 CNY = 0.163 USD
Euro Japanese Yen 1 EUR = 137.040 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.788 GBP 1 GBP = 1.270 EUR
Euro Australian Dollar 1 EUR = 1.442 AUD 1 AUD = 0.694 EUR
Euro Canadian Dollar 1 EUR = 1.423 CAD 1 CAD = 0.703 EUR
Euro Swiss Franc 1 EUR = 1.206 CHF 1 CHF = 0.829 EUR
Euro Chinese Yuan 1 EUR = 7.750 CNY 1 CNY = 0.129 EUR
Japanese Yen Pound Sterling 1 JPY = 0.574 GBP 1 GBP = 1.741 JPY
Japanese Yen Australian Dollar 1 JPY = 1.051 AUD 1 AUD = 0.952 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.038 CAD 1 CAD = 0.963 JPY
Japanese Yen Swiss Franc 1 JPY = 0.880 CHF 1 CHF = 1.137 JPY
Pound Sterling Australian Dollar 1 GBP = 1.831 AUD 1 AUD = 0.546 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.807 CAD 1 CAD = 0.553 GBP
Pound Sterling Swiss Franc 1 GBP = 1.531 CHF 1 CHF = 0.653 GBP
Pound Sterling Chinese Yuan 1 GBP = 9.842 CNY 1 CNY = 0.102 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.986 CAD 1 CAD = 1.014 AUD
Australian Dollar Swiss Franc 1 AUD = 0.836 CHF 1 CHF = 1.196 AUD
Australian Dollar Chinese Yuan 1 AUD = 5.380 CNY 1 CNY = 0.186 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.848 CHF 1 CHF = 1.180 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5.446 CNY 1 CNY = 0.184 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.425 CNY 1 CNY = 0.156 CHF

See what else happened on October 24, 2014