Financial news on October 29, 2008

Business and Financial news
Are Stocks the Bargain You Think?

The bears, who say that stocks are overvalued long term, do have a valid argument. Based on numbers and history, it has at least as much claim on reason as the bullish argument does. Read more..

By DAVID LEONHARDT - The New York Times

Boeing Deal Includes a 15% Raise Over 4 Years

Members of the union that represents machinists at Boeing will begin voting later this week on the tentative agreement, reached Monday night. Read more..

By MICHELINE MAYNARD - The New York Times

Broader Financial Turmoil Threatens Biotech’s Innovation and Cash

Biotech companies, some of the riskiest stock around because most experimental drugs fail, have been negatively impacted by the financial crisis. Read more..

By ANDREW POLLACK - The New York Times

Doubleday Publishing Lays Off 10% of Its Employees

The publishing group denied the cuts were linked to a delivery delay of the author Dan Brown’s new manuscript, or to a change of leadership at Random House, its parent company. Read more..

By MOTOKO RICH - The New York Times

Even as Dow Soars 11%, Skeptics Lurk

Markets surged on bargain-hunting, raising the question of whether stocks have fallen enough to reflect the declines in profits that would accompany a potentially long recession. Read more..

By VIKAS BAJAJ - The New York Times

Gannett to Cut 10% of Workers as Its Profit Slips

The 10 percent figure translates to roughly 3,000 people at the nation’s largest newspaper chain, which has indicated its flagship paper, USA Today, would not be affected. Read more..

BY RICHARD PÉREZ-PEÑA - The New York Times

Grand Plans for Manhattan Hotels Are Stalling

Most hotel projects that have not begun construction are likely to be canceled or delayed, an effect of the economic downturn and the credit crisis. Read more..

By TERRY PRISTIN - The New York Times

Microsoft Introduces Windows 7, Ending Vista Brand

Microsoft introduced what it said would be a slimmer and more responsive version of its Windows operating system. Read more..

By JOHN MARKOFF - The New York Times

Mourning Old Media’s Decline

The paradox is that the print media do not have an audience problem, but a consumer problem. Read more..

By DAVID CARR - The New York Times

Panicked Traders Take VW Shares on a Wild Ride

Regulators are examining a torrent of panicky trading in Volkswagen shares that at one point Tuesday turned VW into the world’s most valuable company. Read more..

By LOUISE STORY, MICHAEL J. DE LA MERCED and CARTER DOUGHERTY - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
General Electric GE 19,54 20,00 18,70 19,20 137M
Microsoft MSFT 23,13 23,97 22,70 23,00 112M
Intel INTC 15,60 15,77 14,91 14,94 99.4M
Cisco Systems CSCO 17,97 18,70 17,60 17,87 72.6M
Wells Fargo & Co. WFC 34,06 34,21 31,85 32,11 70M
Apple AAPL 100,86 109,54 99,94 104,55 69.7M
Pfizer PFE 17,57 18,12 17,13 17,19 66.3M
ExxonMobil XOM 74,87 77,99 73,06 74,65 62.7M
JPMorgan Chase JPM 37,11 38,38 35,51 35,71 61.8M
Oracle Corp. ORCL 17,36 18,37 16,77 17,29 58.7M
AT&T Inc. T 27,53 28,00 26,35 26,90 46.8M
Comcast CMCSA 16,35 16,35 15,08 15,28 40.3M
Wal-Mart Stores WMT 55,13 56,80 53,55 55,02 34.2M
Home Depot HD 21,25 23,18 20,74 21,65 32.3M
Verizon Communications VZ 31,39 31,65 29,98 30,50 32.3M
Procter & Gamble PG 63,01 63,98 59,41 60,99 31M
Johnson & Johnson JNJ 63,37 63,37 60,04 61,53 29M
HP Inc. HPQ 35,02 36,70 34,70 35,40 28.1M
Altria MO 19,41 19,97 19,07 19,14 26.1M
ConocoPhillips COP 50,60 52,99 48,97 50,15 25.9M
Chevron CVX 70,22 74,32 69,41 71,00 25.9M
Abbott Laboratories ABT 54,93 55,50 52,97 54,17 21.1M
Alphabet GOOGL 365,79 371,00 352,37 358,00 19.5M
Schlumberger SLB 49,00 54,50 48,62 50,88 18.8M
Merck MRK 29,46 30,71 28,53 28,68 18.5M
Bristol-Myers Squibb BMY 20,23 20,75 19,74 19,82 18M
McDonald's MCD 56,62 59,94 56,01 57,18 17.8M
Walt Disney & Co. DIS 23,75 25,40 23,50 23,97 17.1M
Amazon AMZN 55,53 59,79 54,52 56,89 15.2M
Coca-Cola KO 44,60 45,80 43,50 43,85 14.9M
Amgen AMGN 59,82 60,99 58,57 58,88 14.7M
UnitedHealth Group UNH 22,31 22,68 21,00 21,32 14.5M
Visa V 50,40 53,51 49,51 50,69 14M
Gilead Sciences GILD 44,73 46,44 43,90 45,64 13.5M
Boeing BA 48,81 52,82 48,81 49,80 12.8M
International Business Machines IBM 87,74 91,00 86,25 88,20 12.7M
United Technologies UTX 51,80 54,00 50,90 52,08 11.5M
3M MMM 64,28 64,98 61,87 62,50 11.3M
Pepsico PEP 55,86 57,48 54,22 55,00 9.26M
Union Pacific UNP 59,23 67,35 58,49 63,37 8.77M
Berkshire Hathaway BRK.B 3590,00 3718,00 3560,00 3695,00 40.2K
Exchange Rates of October 29, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 97,360 JPY 1 JPY = 0,010 USD
US Dollar Canadian Dollar 1 USD = 1,221 CAD 1 CAD = 0,819 USD
US Dollar Swiss Franc 1 USD = 1,127 CHF 1 CHF = 0,887 USD
US Dollar Chinese Yuan 1 USD = 6,842 CNY 1 CNY = 0,146 USD
Euro Japanese Yen 1 EUR = 126,260 JPY 1 JPY = 0,008 EUR
Euro Pound Sterling 1 EUR = 0,791 GBP 1 GBP = 1,265 EUR
Euro Australian Dollar 1 EUR = 1,941 AUD 1 AUD = 0,515 EUR
Euro Canadian Dollar 1 EUR = 1,584 CAD 1 CAD = 0,632 EUR
Euro Swiss Franc 1 EUR = 1,462 CHF 1 CHF = 0,684 EUR
Euro Chinese Yuan 1 EUR = 8,871 CNY 1 CNY = 0,113 EUR
Japanese Yen Pound Sterling 1 JPY = 0,626 GBP 1 GBP = 1,597 JPY
Japanese Yen Australian Dollar 1 JPY = 1,537 AUD 1 AUD = 0,650 JPY
Japanese Yen Canadian Dollar 1 JPY = 1,253 CAD 1 CAD = 0,798 JPY
Japanese Yen Swiss Franc 1 JPY = 1,158 CHF 1 CHF = 0,864 JPY
Pound Sterling Australian Dollar 1 GBP = 2,453 AUD 1 AUD = 0,408 GBP
Pound Sterling Canadian Dollar 1 GBP = 2,002 CAD 1 CAD = 0,500 GBP
Pound Sterling Swiss Franc 1 GBP = 1,849 CHF 1 CHF = 0,541 GBP
Pound Sterling Chinese Yuan 1 GBP = 11,205 CNY 1 CNY = 0,089 GBP
Australian Dollar Canadian Dollar 1 AUD = 0,815 CAD 1 CAD = 1,227 AUD
Australian Dollar Swiss Franc 1 AUD = 0,753 CHF 1 CHF = 1,328 AUD
Australian Dollar Chinese Yuan 1 AUD = 4,567 CNY 1 CNY = 0,219 AUD
Canadian Dollar Swiss Franc 1 CAD = 0,923 CHF 1 CHF = 1,084 CAD
Canadian Dollar Chinese Yuan 1 CAD = 5,605 CNY 1 CNY = 0,178 CAD
Swiss Franc Chinese Yuan 1 CHF = 6,064 CNY 1 CNY = 0,165 CHF

See what else happened on October 29, 2008