Financial news on January 26, 2011

Business and Financial news
3M Profit Falls to $928 Million, Though Sales Increased 9.6 %

Sales increased to $6.7 billion, but additional spending for advertising and research hurt profits. Read more..

By REUTERS - The New York Times

A Growth Agenda for World Economic Forum

The economic forum should address the “too big to fail” bank problem, destabilizing capital flows, improving governance and liberalization to free markets. Read more..

By HUGO DIXON - The New York Times

During Super Bowl, Whetting Appetites for Products to Come

Volkswagen and Mercedes-Benz will feature models not yet available, and movie studios will also preview films coming later this year. Read more..

By STUART ELLIOTT - The New York Times

F.D.A and Dairy Industry Spar Over Testing of Milk

Under industry pressure, the F.D.A. postponed testing milk from farms that sold cows tainted by drug residue. Now the two sides are sparring over the danger posed by antibiotics in the milk supply. Read more..

By WILLIAM NEUMAN - The New York Times

Johnson & Johnson’s Profit Falls 12%, Hurt by Series of Recalls

Lost revenue from the recalled products reduced 2010 sales by $900 million, 50 percent more than Johnson & Johnson predicted last year. Read more..

By THE ASSOCIATED PRESS - The New York Times

Shares Stall as Investors Await Policy News

Four Dow components reported results. In addition, a monthly housing index showed a decline in prices in November. Read more..

By CHRISTINE HAUSER - The New York Times

Soros Warns on State Deficits

Billionaire investor George Soros tells CNBC's Maria Bartiromo that the deficits facing US municipalities will be the "drama of the next year." He also discusses Europe's debt crisis, what's behind the rally in US equities and the Federal Reserve. Read more..

CNBC - CNBC

Stricter Oversight Urged for Defibrillators

The Food and Drug Administration said there had been more than 22,000 reports of malfunctioning devices. Read more..

By DUFF WILSON - The New York Times

Toyota Recalling 1.7 Million Vehicles

The world's top automaker, Toyota, is recalling 1.7 million vehicles worldwide, including Lexus units, as yet another large recall damages its efforts to restore its reputation. Read more..

Reuters - Reuters

Who Invests in Low-Income Housing? Google, for One

As banks retreat, corporations like Google and Verizon are stepping up to buy tax credits from developers of low-income housing and get the projects moving again. Read more..

By TERRY PRISTIN - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 28.51 28.99 28.50 28.78 74.6M
General Electric GE 20.18 20.20 19.92 19.92 67.8M
Cisco Systems CSCO 21.48 21.61 21.26 21.42 65.5M
Intel INTC 21.77 21.90 21.66 21.75 57.2M
Pfizer PFE 18.60 18.61 18.36 18.36 54.4M
Abbott Laboratories ABT 48.15 48.20 46.75 46.75 43.1M
Merck MRK 33.41 33.73 33.18 33.20 26.2M
Wells Fargo & Co. WFC 32.74 32.83 32.41 32.45 25.9M
JPMorgan Chase JPM 45.20 45.48 44.87 44.98 25.6M
ExxonMobil XOM 78.71 79.86 78.49 79.66 25.6M
Verizon Communications VZ 36.32 36.48 36.02 36.40 24.4M
AT&T Inc. T 28.87 28.95 28.68 28.73 24.4M
Oracle Corp. ORCL 32.31 32.73 32.16 32.56 21.5M
Gilead Sciences GILD 37.99 39.86 37.86 39.66 21.1M
Johnson & Johnson JNJ 61.18 61.25 60.60 60.60 20.3M
Apple AAPL 342.96 345.60 341.50 343.85 18.1M
ConocoPhillips COP 68.04 69.81 67.58 69.25 15M
HP Inc. HPQ 46.96 47.28 46.57 46.88 14.4M
Home Depot HD 37.17 37.98 37.15 37.42 14.2M
Wal-Mart Stores WMT 57.39 57.75 57.00 57.32 13.2M
Boeing BA 69.99 70.48 69.11 70.02 13.1M
Comcast CMCSA 23.32 23.56 23.27 23.32 11.6M
General Motors GM 38.75 38.91 37.86 37.89 11.5M
Altria MO 24.32 24.43 24.25 24.27 10.8M
Schlumberger SLB 83.99 87.75 83.83 87.45 10.6M
Walt Disney & Co. DIS 39.84 39.93 39.37 39.44 9.78M
Procter & Gamble PG 66.89 66.92 66.07 66.11 9.5M
UnitedHealth Group UNH 40.59 41.13 40.11 40.25 8.94M
Chevron CVX 94.38 94.97 93.58 94.64 8.83M
Bristol-Myers Squibb BMY 25.99 26.17 25.92 25.93 6.99M
Amgen AMGN 57.27 57.47 56.32 56.48 6.83M
Coca-Cola KO 63.17 63.29 62.86 62.96 6.83M
Pepsico PEP 65.89 66.04 65.52 65.86 6.8M
McDonald's MCD 75.59 75.71 75.15 75.17 6.67M
International Business Machines IBM 161.67 161.90 160.42 161.04 5.35M
United Technologies UTX 81.68 81.95 80.76 81.41 5.31M
Union Pacific UNP 93.92 94.78 93.22 94.12 4.64M
Visa V 71.90 72.14 70.95 71.00 4.46M
3M MMM 88.58 89.72 88.43 89.57 4.1M
Alphabet GOOGL 620.33 622.49 615.28 616.50 4.07M
Amazon AMZN 177.51 177.89 174.63 175.39 3.76M
Berkshire Hathaway BRK.B 83.33 83.48 82.91 83.07 3.33M
Exchange Rates of January 26, 2011
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 82.170 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 0.994 CAD 1 CAD = 1.006 USD
US Dollar Swiss Franc 1 USD = 0.942 CHF 1 CHF = 1.062 USD
US Dollar Chinese Yuan 1 USD = 6.582 CNY 1 CNY = 0.152 USD
Euro Japanese Yen 1 EUR = 112.670 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.861 GBP 1 GBP = 1.162 EUR
Euro Australian Dollar 1 EUR = 1.372 AUD 1 AUD = 0.729 EUR
Euro Canadian Dollar 1 EUR = 1.363 CAD 1 CAD = 0.734 EUR
Euro Swiss Franc 1 EUR = 1.292 CHF 1 CHF = 0.774 EUR
Euro Chinese Yuan 1 EUR = 9.022 CNY 1 CNY = 0.111 EUR
Japanese Yen Pound Sterling 1 JPY = 0.764 GBP 1 GBP = 1.309 JPY
Japanese Yen Australian Dollar 1 JPY = 1.218 AUD 1 AUD = 0.821 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.209 CAD 1 CAD = 0.827 JPY
Japanese Yen Swiss Franc 1 JPY = 1.146 CHF 1 CHF = 0.872 JPY
Pound Sterling Australian Dollar 1 GBP = 1.594 AUD 1 AUD = 0.627 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.583 CAD 1 CAD = 0.632 GBP
Pound Sterling Swiss Franc 1 GBP = 1.500 CHF 1 CHF = 0.667 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.482 CNY 1 CNY = 0.095 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.993 CAD 1 CAD = 1.007 AUD
Australian Dollar Swiss Franc 1 AUD = 0.941 CHF 1 CHF = 1.063 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.574 CNY 1 CNY = 0.152 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.947 CHF 1 CHF = 1.056 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.621 CNY 1 CNY = 0.151 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.985 CNY 1 CNY = 0.143 CHF

See what else happened on January 26, 2011