Financial news on July 27, 2010

Business and Financial news
Barton Biggs Not Ready to Bet on BP

Barton Biggs, the hedge fund manager who became more optimistic about stocks this month, said that BP is still “too speculative” to buy, Bloomberg News reported. Read more..

By DEALBOOK - The New York Times

BP Is Expected to Replace Chief With American

Robert Dudley, an American, will take over leadership of the company after repeated stumbles by Tony Hayward in responding to the oil spill in the Gulf of Mexico. Read more..

By JAD MOUAWAD and CLIFFORD KRAUSS - The New York Times

BP Shares Fall as Asset Sale Plan Grows

The company said it planned to sell off more assets than it had previously announced. Read more..

By DEALBOOK - The New York Times

Buyout Shops in Talks to Buy Harrington, Report Says

Clayton Dubilier & Rice and Goldman Sachs’s private-equity unit are in talks to buy Harrington Holdings, a medical supply distribution company, for about $850 million including debt, Bloomberg News reported, citing two people with knowledge of the discussions. Read more..

By DEALBOOK - The New York Times

Central Bankers Reach Early Deal on Global Standards

Even as investors applauded the mostly positive results of recent stress tests of European banks, central bankers and regulators reached a preliminary agreement Monday on new standards to reinforce the stability of the global financial system. Read more..

By DEALBOOK - The New York Times

CIT Posts $142.1 Million Quarterly Profit

The big lender to small mid-sized companies said on Tuesday that it earned $142.1 million for its second quarter, as it continues rebuilding itself after its restructuring last year. Read more..

By DEALBOOK - The New York Times

Nobel Peace Prize City

One bowl of oil to go, please. Read more..

By PATRICK MERRELL - The New York Times

Nuclear Energy Loses Cost Advantage

In a "historic crossover," the costs of solar photovoltaic systems have fallen below the rising projected costs of new nuclear plants, a report says. Read more..

By DIANA S. POWERS - International Herald Tribune

Pace Goes Over the Top With 2Wire Buy

Pace, the U.K. set-top box maker, is expanding its reach in the U.S. and into the online video market with the acquisition of broadband video technology firm 2Wire, GigaOm reported. Read more..

By DEALBOOK - The New York Times

With New Stars, Reality Shows See Costs Rise

The stars of “Jersey Shore” as a group earned about $25,000 for the first season. Now they will reportedly earn at least that much for each episode. Read more..

By BRIAN STELTER - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 16.30 16.57 16.10 16.18 69.9M
Microsoft MSFT 26.14 26.24 25.96 26.16 60.7M
Pfizer PFE 15.10 15.36 14.99 15.27 60.7M
Intel INTC 21.68 21.74 21.39 21.58 54M
Cisco Systems CSCO 23.68 23.72 23.20 23.30 48M
Gilead Sciences GILD 33.43 33.54 32.82 33.39 46M
JPMorgan Chase JPM 40.74 41.24 40.61 40.69 44.9M
Wells Fargo & Co. WFC 28.41 28.77 28.24 28.39 38.4M
AT&T Inc. T 26.02 26.41 26.02 26.15 26.1M
Oracle Corp. ORCL 24.60 24.68 24.32 24.57 23.8M
Verizon Communications VZ 28.32 28.75 28.30 28.59 22.7M
ExxonMobil XOM 60.62 60.90 60.39 60.81 22.4M
Comcast CMCSA 19.48 19.58 19.07 19.33 21.7M
Apple AAPL 260.87 264.80 260.30 264.08 20.9M
Johnson & Johnson JNJ 57.95 58.44 57.62 58.10 17M
HP Inc. HPQ 47.11 47.83 46.78 47.57 16.5M
Home Depot HD 29.23 29.37 28.54 28.58 14.9M
Bristol-Myers Squibb BMY 25.09 25.35 24.84 25.32 14.2M
Schlumberger SLB 59.25 59.25 57.58 58.93 13.8M
Merck MRK 35.32 35.59 35.00 35.18 12.7M
Procter & Gamble PG 62.72 63.36 62.35 63.08 12.5M
Wal-Mart Stores WMT 50.80 51.30 50.66 50.96 12.3M
UnitedHealth Group UNH 31.53 31.72 30.63 30.78 11.9M
Altria MO 22.06 22.15 21.94 22.05 11.7M
ConocoPhillips COP 54.73 54.95 54.12 54.44 10.8M
Abbott Laboratories ABT 49.50 49.50 48.96 49.27 9.66M
Coca-Cola KO 54.91 55.25 54.82 55.05 8.95M
Chevron CVX 74.86 75.43 74.50 75.30 8.16M
Amazon AMZN 118.43 118.50 115.07 117.13 7.8M
Amgen AMGN 53.92 55.06 53.78 54.51 7.67M
Walt Disney & Co. DIS 34.66 34.66 33.96 34.28 7.1M
McDonald's MCD 71.03 71.03 69.99 70.40 6.21M
Pepsico PEP 65.30 65.79 64.71 65.69 6.03M
Boeing BA 69.25 69.75 68.40 68.62 5.69M
Berkshire Hathaway BRK.B 78.90 78.98 78.30 78.51 4.99M
Alphabet GOOGL 490.58 497.50 490.17 492.63 4.9M
International Business Machines IBM 128.78 129.17 127.89 128.63 4.65M
United Technologies UTX 71.96 71.97 70.75 71.09 4.62M
Visa V 77.00 77.27 75.87 76.61 4.34M
3M MMM 87.16 87.39 86.33 86.80 4.24M
Union Pacific UNP 76.00 76.00 74.36 74.63 3.47M
Exchange Rates of July 27, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 87.850 JPY 1 JPY = 0.011 USD
US Dollar Canadian Dollar 1 USD = 1.035 CAD 1 CAD = 0.966 USD
US Dollar Swiss Franc 1 USD = 1.060 CHF 1 CHF = 0.944 USD
US Dollar Chinese Yuan 1 USD = 6.779 CNY 1 CNY = 0.148 USD
Euro Japanese Yen 1 EUR = 114.220 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.833 GBP 1 GBP = 1.200 EUR
Euro Australian Dollar 1 EUR = 1.443 AUD 1 AUD = 0.693 EUR
Euro Canadian Dollar 1 EUR = 1.346 CAD 1 CAD = 0.743 EUR
Euro Swiss Franc 1 EUR = 1.378 CHF 1 CHF = 0.726 EUR
Euro Chinese Yuan 1 EUR = 8.813 CNY 1 CNY = 0.113 EUR
Japanese Yen Pound Sterling 1 JPY = 0.729 GBP 1 GBP = 1.371 JPY
Japanese Yen Australian Dollar 1 JPY = 1.262 AUD 1 AUD = 0.792 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.177 CAD 1 CAD = 0.849 JPY
Japanese Yen Swiss Franc 1 JPY = 1.206 CHF 1 CHF = 0.829 JPY
Pound Sterling Australian Dollar 1 GBP = 1.730 AUD 1 AUD = 0.578 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.613 CAD 1 CAD = 0.620 GBP
Pound Sterling Swiss Franc 1 GBP = 1.653 CHF 1 CHF = 0.605 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.559 CNY 1 CNY = 0.095 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.933 CAD 1 CAD = 1.072 AUD
Australian Dollar Swiss Franc 1 AUD = 0.955 CHF 1 CHF = 1.047 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.108 CNY 1 CNY = 0.164 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.024 CHF 1 CHF = 0.977 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.544 CNY 1 CNY = 0.153 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.393 CNY 1 CNY = 0.156 CHF

See what else happened on July 27, 2010