Financial news on October 27, 2010

Business and Financial news
CommScope and Carlyle Seal $3 Billion Deal

The telecom equipment provider will sell itself for $31.50 a share in cash, although it has until Dec. 5 to find a higher offer. Read more..

By DEALBOOK - The New York Times

Creditors Back Dubai World Debt Restructuring

State-owned Dubai World has secured support from all its creditors for a $25 billion debt restructuring plan, a spokesman said on Wednesday, helping to avoid a drawn-out battle with a special tribunal. Read more..

By DEALBOOK - The New York Times

Deutsche Bank Reports Loss, Citing Takeover Costs

Deutsche Bank said Wednesday that it had lost money in the third quarter as the costs of acquiring Germany’s largest retail bank added to the effects of a slump in stock trading. Read more..

By DEALBOOK - The New York Times

Did Einhorn Rebuff Buffett?

Did David Einhorn turn down Warren E. Buffett? That’s the suggestion from Insider Monkey. The blog thinks the Greenlight Capital chief may have been one of the unidentified fund managers to take themselves out of the running to become heir apparent to manage the investments at Berkshire Hathaway. Read more..

By DEALBOOK - The New York Times

European Union Adopts Hedge Fund Rules

The European Union agreed Tuesday after drawn-out negotiations to new rules for hedge funds, having gained the approval of the European Parliament to regulate more thoroughly the 2 trillion euro industry. Read more..

By DEALBOOK - The New York Times

Fed Won’t Join Appeal to Keep Emergency Loans Secret

The Federal Reserve will not join a group of leading commercial banks in asking the Supreme Court to allow the government to withhold details of emergency loans made to financial companies in 2008. Read more..

By DEALBOOK - The New York Times

Fed Won’t Join Appeal to Keep Its Loans Secret

The Supreme Court is now less likely to hear the case, which was asking the government to withhold details of the 2008 bank rescues. Read more..

By BLOOMBERG NEWS - The New York Times

I.B.M. Approves $10 Billion Stock Buyback

I.B.M. said on Tuesday that its board had approved an additional $10 billion in stock buybacks, representing nearly 6 percent of its outstanding shares. Read more..

By DEALBOOK - The New York Times

SGX-ASX Merger Seen as Threat to Hong Kong Exchange

A merger between Singapore Exchange and ASX will make it harder for Hong Kong to win offerings by commodity companies and achieve an expansion plan announced this year, the chairman of the Hong Kong bourse said. Read more..

By DEALBOOK - The New York Times

The Hurdles to Suing Outside Advisers for Fraud

White Collar Watch examines how court rulings, most recently one in New York, have reaffirmed the protection that outside advisers have from damage claims in cases of corporate fraud. Read more..

By PETER J. HENNING - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Microsoft MSFT 25.79 26.11 25.62 26.05 64.8M
General Electric GE 16.06 16.14 15.99 16.11 50.6M
Intel INTC 19.93 20.20 19.81 20.19 48.2M
Comcast CMCSA 19.52 20.48 19.47 20.27 47.3M
Pfizer PFE 17.40 17.49 17.17 17.28 45.5M
Cisco Systems CSCO 23.25 23.36 23.03 23.29 39.2M
Wells Fargo & Co. WFC 25.69 26.00 25.60 25.75 35.4M
Oracle Corp. ORCL 28.55 28.82 28.36 28.70 33.9M
JPMorgan Chase JPM 37.06 37.63 37.00 37.54 30.8M
AT&T Inc. T 28.26 28.41 28.08 28.35 24.8M
ExxonMobil XOM 65.95 65.99 65.09 65.67 23.4M
Abbott Laboratories ABT 52.34 52.34 51.03 51.64 20.4M
Verizon Communications VZ 32.44 32.56 32.19 32.51 19M
HP Inc. HPQ 42.55 42.84 41.96 42.39 18.8M
ConocoPhillips COP 59.70 60.48 59.55 60.08 15.3M
Apple AAPL 307.65 309.90 305.60 307.83 14.3M
Procter & Gamble PG 63.33 63.35 62.73 63.08 13.3M
Wal-Mart Stores WMT 54.24 54.63 53.55 53.87 13M
UnitedHealth Group UNH 37.25 37.36 35.70 35.93 12.7M
Merck MRK 36.88 36.88 36.13 36.46 12.1M
Johnson & Johnson JNJ 63.58 63.69 63.28 63.57 11.9M
Walt Disney & Co. DIS 35.60 35.96 35.47 35.92 11.8M
Home Depot HD 31.05 31.05 30.45 30.90 11.6M
Bristol-Myers Squibb BMY 26.72 26.99 26.70 26.87 10.1M
Altria MO 25.11 25.12 24.90 25.11 9.58M
Chevron CVX 84.64 84.64 83.29 84.31 9.56M
Coca-Cola KO 61.02 61.20 60.30 61.19 9.51M
McDonald's MCD 78.46 78.62 77.00 77.48 8.46M
Pepsico PEP 64.50 64.51 63.78 64.27 7.96M
Schlumberger SLB 68.24 69.35 67.60 69.24 7.86M
Gilead Sciences GILD 39.23 39.78 39.00 39.46 7.65M
International Business Machines IBM 139.52 141.57 139.00 141.43 6.47M
Berkshire Hathaway BRK.B 81.67 81.72 80.13 80.55 5.96M
Amazon AMZN 168.91 169.75 166.54 167.51 5.72M
Amgen AMGN 56.75 57.18 56.46 57.03 5.67M
Visa V 80.29 80.60 79.16 79.92 5.17M
Alphabet GOOGL 615.77 620.00 612.33 616.47 4.48M
Boeing BA 70.87 71.11 69.71 70.86 3.81M
3M MMM 89.99 90.53 88.56 90.37 3.4M
United Technologies UTX 74.22 74.54 73.30 74.46 3.32M
Union Pacific UNP 86.36 86.60 84.38 85.43 3.25M
Exchange Rates of October 27, 2010
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 81.710 JPY 1 JPY = 0.012 USD
US Dollar Canadian Dollar 1 USD = 1.028 CAD 1 CAD = 0.973 USD
US Dollar Swiss Franc 1 USD = 0.990 CHF 1 CHF = 1.010 USD
US Dollar Chinese Yuan 1 USD = 6.682 CNY 1 CNY = 0.150 USD
Euro Japanese Yen 1 EUR = 112.560 JPY 1 JPY = 0.009 EUR
Euro Pound Sterling 1 EUR = 0.873 GBP 1 GBP = 1.146 EUR
Euro Australian Dollar 1 EUR = 1.416 AUD 1 AUD = 0.706 EUR
Euro Canadian Dollar 1 EUR = 1.416 CAD 1 CAD = 0.706 EUR
Euro Swiss Franc 1 EUR = 1.364 CHF 1 CHF = 0.733 EUR
Euro Chinese Yuan 1 EUR = 9.198 CNY 1 CNY = 0.109 EUR
Japanese Yen Pound Sterling 1 JPY = 0.775 GBP 1 GBP = 1.290 JPY
Japanese Yen Australian Dollar 1 JPY = 1.258 AUD 1 AUD = 0.795 JPY
Japanese Yen Canadian Dollar 1 JPY = 1.257 CAD 1 CAD = 0.795 JPY
Japanese Yen Swiss Franc 1 JPY = 1.211 CHF 1 CHF = 0.825 JPY
Pound Sterling Australian Dollar 1 GBP = 1.622 AUD 1 AUD = 0.616 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.622 CAD 1 CAD = 0.617 GBP
Pound Sterling Swiss Franc 1 GBP = 1.562 CHF 1 CHF = 0.640 GBP
Pound Sterling Chinese Yuan 1 GBP = 10.530 CNY 1 CNY = 0.095 GBP
Australian Dollar Canadian Dollar 1 AUD = 1.000 CAD 1 CAD = 1.000 AUD
Australian Dollar Swiss Franc 1 AUD = 0.963 CHF 1 CHF = 1.039 AUD
Australian Dollar Chinese Yuan 1 AUD = 6.496 CNY 1 CNY = 0.154 AUD
Canadian Dollar Swiss Franc 1 CAD = 0.963 CHF 1 CHF = 1.038 CAD
Canadian Dollar Chinese Yuan 1 CAD = 6.499 CNY 1 CNY = 0.154 CAD
Swiss Franc Chinese Yuan 1 CHF = 6.746 CNY 1 CNY = 0.148 CHF

See what else happened on October 27, 2010