Financial news on October 26, 2010

Business and Financial news
Bank of America Sues Adviser Starr

Bank of America has sued financial adviser Kenneth Starr, who pleaded guilty to fraud last month, over a $500,000 loan, Reuters reported. Read more..

By DEALBOOK - The New York Times

Chavez to Seize Owens-Illinois Affiliate

President Hugo Chavez of Venezuela said late Monday that he was ordering a government takeover of the local unit of U.S.- owned glass manufacturer Owens-Illinois. Read more..

By DEALBOOK - The New York Times

Citi’s ‘Big Love’ for Terra Firma Emerges at Trial

One of America’s top trial lawyers faced off against one of Britain’s top investment bankers in crucial testimony that could determine the fate of the EMI Group. Read more..

By PETER LATTMAN - The New York Times

Connecticut Fund Manager Sued for Fraud Over Fees

A Connecticut hedge fund manager was accused by state and federal regulators on Monday of inflating the value of its holdings, which allowed it to fraudulently collect millions of dollars of undeserved fees. Read more..

By DEALBOOK - The New York Times

Former Chief of ImClone Buys a Drug Company

Samuel D. Waksal, the biotechnology executive whose insider trading landed him and his friend Martha Stewart in prison, is trying to make a comeback. His new company, Kadmon Pharmaceuticals, said it had acquired Three Rivers Pharmaceuticals, a privately held company in that mainly sells drugs to treat hepatitis C. Read more..

By DEALBOOK - The New York Times

Goldman Sells $1.3 Billion in 50-Year Notes

Goldman Sachs is the latest company to issue long-dated debt, taking advantage of low interest rates. Read more..

By DEALBOOK - The New York Times

Silver Lining for F.D.I.C. in BankUnited Deal

Sheila C. Bair may have sold BankUnited, with its $13 billion of assets, to a group of private equity heavy-hitters in May 2009 for a song, but, Reuters BreakingViews argues, the F.D.I.C. chairwoman need not feel embarrassed. Read more..

By DEALBOOK - The New York Times

Soros Pushes for Legalization of Marijuana

The criminalization of the marijuana industry is killing George Soros’s buzz. The financier laid out his arguments for backing California’s Proposition 19, which would legalize the recreational use and small-scale cultivation of marijuana, in an opinion piece in The Wall Street Journal. Read more..

By DEALBOOK - The New York Times

UBS Turnaround Advances

UBS, the European bank that was hit hardest by the financial crisis, took another step in its turnaround Tuesday as it reported a third-quarter profit that beat expectations and said the two-year flow of cash out of its private bank had finally stopped. Read more..

By DEALBOOK - The New York Times

Weinstein Co. Is Said to Plan Funding Arm

The Weinstein Company is launching a new financing arm, Deadline Hollywood reports. Read more..

By DEALBOOK - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 25.12 25.97 25.06 25.90 69.3M
Intel INTC 19.79 20.11 19.73 20.04 56.3M
General Electric GE 16.06 16.32 16.03 16.16 49.4M
JPMorgan Chase JPM 36.98 37.26 36.78 37.20 39.2M
Cisco Systems CSCO 23.49 23.75 23.36 23.40 37.7M
Pfizer PFE 17.57 17.60 17.38 17.49 35.4M
Wells Fargo & Co. WFC 25.60 25.99 25.48 25.91 30.6M
Oracle Corp. ORCL 28.71 28.84 28.54 28.63 28M
Comcast CMCSA 19.64 19.87 19.60 19.64 25.3M
AT&T Inc. T 28.37 28.53 28.26 28.31 21.3M
ExxonMobil XOM 65.96 66.57 65.81 66.53 17.7M
Walt Disney & Co. DIS 35.13 35.97 34.99 35.96 14.8M
HP Inc. HPQ 42.37 43.06 42.16 42.95 14.5M
ConocoPhillips COP 60.87 61.62 60.75 61.37 14.3M
Apple AAPL 306.87 309.74 305.65 308.05 14M
Verizon Communications VZ 32.41 32.71 32.41 32.50 13.8M
Procter & Gamble PG 63.12 63.44 62.52 62.86 12.9M
Wal-Mart Stores WMT 53.84 54.73 53.83 54.56 10.3M
Schlumberger SLB 68.44 69.59 68.21 69.11 9.68M
Bristol-Myers Squibb BMY 27.01 27.08 26.69 26.86 9.42M
Home Depot HD 31.27 31.51 31.00 31.29 9.28M
Abbott Laboratories ABT 52.39 52.69 52.32 52.69 8.31M
UnitedHealth Group UNH 37.51 37.69 37.15 37.57 8.05M
Altria MO 25.01 25.21 25.01 25.20 7.84M
Coca-Cola KO 60.79 61.37 60.77 61.24 7.75M
International Business Machines IBM 139.29 142.00 138.53 140.67 7.33M
Johnson & Johnson JNJ 63.85 63.95 63.61 63.84 7.12M
Merck MRK 37.31 37.33 36.89 37.07 7.1M
Amgen AMGN 57.11 57.50 56.60 57.26 7.05M
Pepsico PEP 64.80 64.99 64.55 64.79 6.9M
Gilead Sciences GILD 39.52 39.62 39.06 39.61 6.77M
Chevron CVX 84.65 85.24 84.49 85.15 5.97M
Berkshire Hathaway BRK.B 83.00 83.11 81.25 82.22 5.24M
Alphabet GOOGL 613.10 621.23 611.03 618.60 5.02M
Amazon AMZN 167.57 171.00 167.50 169.95 4.69M
McDonald's MCD 78.59 79.00 78.58 78.76 4.03M
Visa V 80.18 80.33 79.38 80.03 3.91M
Boeing BA 71.10 71.65 70.73 71.30 3.54M
United Technologies UTX 74.47 74.82 74.03 74.67 3.52M
Union Pacific UNP 86.68 87.92 86.32 87.36 2.65M
3M MMM 90.68 90.98 90.14 90.47 2.27M
Exchange Rates of October 26, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 81.410 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.024 CAD 1 CAD = 0.977 USD
US Dollar Swiss Franc 1 USD = 0.984 CHF 1 CHF = 1.016 USD
US Dollar Chinese Yuan 1 USD = 6.664 CNY 1 CNY = 0.150 USD
Euro Japanese Yen 1 EUR = 112.810 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.875 GBP 1 GBP = 1.144 EUR
Euro Australian Dollar 1 EUR = 1.405 AUD 1 AUD = 0.712 EUR
Euro Canadian Dollar 1 EUR = 1.418 CAD 1 CAD = 0.705 EUR
Euro Swiss Franc 1 EUR = 1.364 CHF 1 CHF = 0.733 EUR
Euro Chinese Yuan 1 EUR = 9.235 CNY 1 CNY = 0.108 EUR
Japanese Yen Pound Sterling 1 JPY = 0.775 GBP 1 GBP = 1.291 JPY
Japanese Yen Australian Dollar 1 JPY = 1.245 AUD 1 AUD = 0.803 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.257 CAD 1 CAD = 0.796 JPY
Japanese Yen Swiss Franc 1 JPY = 1.209 CHF 1 CHF = 0.827 JPY
Pound Sterling Australian Dollar 1 GBP = 1.607 AUD 1 AUD = 0.622 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.622 CAD 1 CAD = 0.617 GBP
Pound Sterling Swiss Franc 1 GBP = 1.559 CHF 1 CHF = 0.641 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.547 CNY 1 CNY = 0.095 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.009 CAD 1 CAD = 0.991 AUD
Australian Dollar Swiss Franc 1 AUD = 0.970 CHF 1 CHF = 1.031 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.572 CNY 1 CNY = 0.152 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.961 CHF 1 CHF = 1.040 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.509 CNY 1 CNY = 0.154 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.771 CNY 1 CNY = 0.148 CHF

See what else happened on October 26, 2010