Financial news on February 28, 2006

Business and Financial news
After KeySpan Deal, Eyes Turn to NStar

Is NStar next? The Massachusetts-based electric and gas utility is looking like a good fit for British energy giant National Grid following its recent agreement to acquire KeySpan for $7.3 billion. That deal, plus a follow-on transaction that includes 800,000 KeySpan gas customers in Eastern Massachusetts, makes it look as if National Grid has NStar […] Read more..

By WRITER - The New York Times

A Mickey-Mouse Idea: Apple Buying Disney

As the largest individual shareholder in Disney, would Steve Jobs be interested in having his Apple acquire Disney? Apple may be interested in making a bid for media giant, given Jobs’ experience in leading companies familiar with technology and award winning movies using computer animation, according a weekend article in Barron’s. Respones among bloggers ranged […] Read more..

By WRITER - The New York Times

Hedge Fund Returns Overstated?

Hedge fund growth is soaring, but is some of that being floated on hot air? A new study by Barclays Capital suggests that hedge fund indexes, because of flaws in they are compiled, may be overstating returns by as much as one to six percentage points a year. Tim Bond, author of the study, the […] Read more..

By DEALBOOK - The New York Times

KKR May Expand Stake in GM Mortgage Unit

Kohlberg Kravis Roberts & Co., the world’s biggest buyout firm, may increase its stake in General Motors‘ commercial mortgage unit six months after buying 60 percent of the company, according to Bloomberg News. GM tried to sell the unit, which lends to apartment complexes and malls, two years ago for $2 billion. Go to Article […] Read more..

By WRITER - The New York Times

Michael Dell’s New Approach to Hedge Funds

With the backing of Michael Dell, SkyBridge Capital has taken a new apporach to hedge fund investing. Instead of investing in a fund or managing a fund, SkyBridge has gotten into the business of providing seed capital to funds, according to The Street.com. Apparently, the returns on this type of investment can make investing in […] Read more..

By WRITER - The New York Times

MidOcean Takes a Ride With Secondary Buyout of Park Operator

MidOcean Partners LLP has signed an agreement to buy Palace Entertainment, an operator of 32 family-oriented theme parks, from Windward Capital in a secondary buyout. While the value of the deal was not disclosed, MidOcean typically puts between $50 million and $100 million of equity toward each of its deals, and purchase prices are generally […] Read more..

By WRITER - The New York Times

Tim Hortons Files for IPO

Canadian restaurant chain Tim Hortons, now owned by Wendy’s International Inc., may offer up to 29 million shares for between C$21 and C$23 a share, or about $18 to $20, according to a regulatory filing on Monday. Go to Article from Reuters » Read more..

By WRITER - The New York Times

Tom Ford, Clothing Designer, Will Open Store of His Own

Putting an end to months of speculation about his future in fashion, the designer announced that he would open his first store, in New York. Read more..

By RUTH LA FERLA - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Cisco Systems CSCO 19.95 20.40 19.86 20.24 137M
Intel INTC 20.52 21.01 20.50 20.60 93.2M
Alphabet GOOGL 392.65 397.54 338.51 362.62 78.8M
Microsoft MSFT 26.94 27.30 26.87 26.87 65M
Apple AAPL 71.60 72.40 68.10 68.49 45.2M
Oracle Corp. ORCL 12.45 12.58 12.39 12.42 43.4M
Pfizer PFE 26.60 26.60 26.14 26.19 29.6M
General Electric GE 33.20 33.30 32.85 32.87 27.7M
ExxonMobil XOM 59.75 59.75 59.10 59.37 19.2M
ConocoPhillips COP 61.20 61.65 60.27 60.96 16.5M
Procter & Gamble PG 61.00 61.21 59.85 59.93 14.5M
HP Inc. HPQ 33.00 33.31 32.42 32.81 13.7M
Wal-Mart Stores WMT 45.69 45.81 45.22 45.36 12.3M
Home Depot HD 42.35 42.42 41.70 42.15 12.2M
Verizon Communications VZ 34.14 34.49 33.70 33.70 12M
JPMorgan Chase JPM 41.36 41.60 40.97 41.14 11.7M
Abbott Laboratories ABT 44.07 44.52 43.80 44.18 11.1M
Walt Disney & Co. DIS 28.46 28.46 27.82 27.99 11M
Comcast CMCSA 26.66 27.00 26.59 26.83 10.7M
AT&T Inc. T 27.65 27.77 27.54 27.59 10.4M
Altria MO 72.30 72.31 71.75 71.90 9.22M
Amazon AMZN 37.78 38.09 37.05 37.44 9.15M
Bristol-Myers Squibb BMY 23.05 23.27 23.00 23.10 9.11M
Johnson & Johnson JNJ 57.81 57.92 57.42 57.65 8.94M
Chevron CVX 56.69 56.84 56.23 56.48 8.86M
Merck MRK 35.09 35.29 34.86 34.86 8.52M
Coca-Cola KO 42.52 42.58 41.92 41.97 8.09M
Amgen AMGN 75.30 75.80 74.94 75.48 7.07M
International Business Machines IBM 80.10 80.55 79.71 80.24 5.96M
Schlumberger SLB 115.30 116.16 114.30 115.00 5.6M
McDonald's MCD 35.30 35.47 34.89 34.91 5.52M
UnitedHealth Group UNH 58.93 59.02 57.87 58.23 5.3M
Wells Fargo & Co. WFC 64.34 64.54 63.77 64.20 4.92M
Pepsico PEP 59.18 59.43 58.98 59.11 4.64M
Boeing BA 73.90 74.00 72.36 72.69 3.9M
United Technologies UTX 58.70 59.15 58.19 58.50 3.53M
Gilead Sciences GILD 63.23 63.57 61.90 62.27 3.42M
3M MMM 73.70 74.08 73.12 73.59 2.7M
Union Pacific UNP 89.98 89.98 88.38 88.55 820K
Berkshire Hathaway BRK.B 2905.00 2905.00 2860.00 2888.00 13.4K
Exchange Rates of February 28, 2006
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 115.740 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.137 CAD 1 CAD = 0.880 USD
US Dollar Swiss Franc 1 USD = 1.312 CHF 1 CHF = 0.762 USD
US Dollar Chinese Yuan 1 USD = 8.038 CNY 1 CNY = 0.124 USD
Euro Japanese Yen 1 EUR = 137.960 JPY 1 JPY = 0.007 EUR
Euro Pound Sterling 1 EUR = 0.680 GBP 1 GBP = 1.472 EUR
Euro Australian Dollar 1 EUR = 1.605 AUD 1 AUD = 0.623 EUR
Euro Canadian Dollar 1 EUR = 1.355 CAD 1 CAD = 0.738 EUR
Euro Swiss Franc 1 EUR = 1.564 CHF 1 CHF = 0.640 EUR
Pound Sterling Australian Dollar 1 GBP = 2.362 AUD 1 AUD = 0.423 GBP
Pound Sterling Canadian Dollar 1 GBP = 1.993 CAD 1 CAD = 0.502 GBP
Pound Sterling Swiss Franc 1 GBP = 2.300 CHF 1 CHF = 0.435 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.844 CAD 1 CAD = 1.185 AUD
Australian Dollar Swiss Franc 1 AUD = 0.973 CHF 1 CHF = 1.027 AUD

See what else happened on February 28, 2006