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

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO19,9520,4019,8620,24137M
IntelINTC20,5221,0120,5020,6093.2M
AlphabetGOOGL392,65397,54338,51362,6278.8M
MicrosoftMSFT26,9427,3026,8726,8765M
AppleAAPL71,6072,4068,1068,4945.2M
Oracle Corp.ORCL12,4512,5812,3912,4243.4M
PfizerPFE26,6026,6026,1426,1929.6M
General ElectricGE33,2033,3032,8532,8727.7M
ExxonMobilXOM59,7559,7559,1059,3719.2M
ConocoPhillipsCOP61,2061,6560,2760,9616.5M
Procter & GamblePG61,0061,2159,8559,9314.5M
HP Inc.HPQ33,0033,3132,4232,8113.7M
Wal-Mart StoresWMT45,6945,8145,2245,3612.3M
Home DepotHD42,3542,4241,7042,1512.2M
Verizon CommunicationsVZ34,1434,4933,7033,7012M
JPMorgan ChaseJPM41,3641,6040,9741,1411.7M
Abbott LaboratoriesABT44,0744,5243,8044,1811.1M
Walt Disney & Co.DIS28,4628,4627,8227,9911M
ComcastCMCSA26,6627,0026,5926,8310.7M
AT&T Inc.T27,6527,7727,5427,5910.4M
AltriaMO72,3072,3171,7571,909.22M
AmazonAMZN37,7838,0937,0537,449.15M
Bristol-Myers SquibbBMY23,0523,2723,0023,109.11M
Johnson & JohnsonJNJ57,8157,9257,4257,658.94M
ChevronCVX56,6956,8456,2356,488.86M
MerckMRK35,0935,2934,8634,868.52M
Coca-ColaKO42,5242,5841,9241,978.09M
AmgenAMGN75,3075,8074,9475,487.07M
International Business MachinesIBM80,1080,5579,7180,245.96M
SchlumbergerSLB115,30116,16114,30115,005.6M
McDonald'sMCD35,3035,4734,8934,915.52M
UnitedHealth GroupUNH58,9359,0257,8758,235.3M
Wells Fargo & Co.WFC64,3464,5463,7764,204.92M
PepsicoPEP59,1859,4358,9859,114.64M
BoeingBA73,9074,0072,3672,693.9M
United TechnologiesUTX58,7059,1558,1958,503.53M
Gilead SciencesGILD63,2363,5761,9062,273.42M
3MMMM73,7074,0873,1273,592.7M
Union PacificUNP89,9889,9888,3888,55820K
Berkshire HathawayBRK.B2905,002905,002860,002888,0013.4K
Exchange Rates of February 28, 2006
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 115,740 JPY1 JPY = 0,009 USD
US DollarCanadian Dollar1 USD = 1,137 CAD1 CAD = 0,880 USD
US DollarSwiss Franc1 USD = 1,312 CHF1 CHF = 0,762 USD
US DollarChinese Yuan1 USD = 8,038 CNY1 CNY = 0,124 USD
EuroJapanese Yen1 EUR = 137,960 JPY1 JPY = 0,007 EUR
EuroPound Sterling1 EUR = 0,680 GBP1 GBP = 1,472 EUR
EuroAustralian Dollar1 EUR = 1,605 AUD1 AUD = 0,623 EUR
EuroCanadian Dollar1 EUR = 1,355 CAD1 CAD = 0,738 EUR
EuroSwiss Franc1 EUR = 1,564 CHF1 CHF = 0,640 EUR
Pound SterlingAustralian Dollar1 GBP = 2,362 AUD1 AUD = 0,423 GBP
Pound SterlingCanadian Dollar1 GBP = 1,993 CAD1 CAD = 0,502 GBP
Pound SterlingSwiss Franc1 GBP = 2,300 CHF1 CHF = 0,435 GBP
Australian DollarCanadian Dollar1 AUD = 0,844 CAD1 CAD = 1,185 AUD
Australian DollarSwiss Franc1 AUD = 0,973 CHF1 CHF = 1,027 AUD

See what else happened on February 28, 2006