Financial news on April 30, 2008

Business and Financial news
Citigroup Sells $4.5 Billion in Shares

The sale of new common shares was another effort by the banking giant to shore up its balance sheet. The offering was priced at $25.27 a share. Read more..

By ERIC DASH - The New York Times

Drug From Genentech and Biogen Fails as a Lupus Treatment

The companies said that their drug Rituxan did not achieve any of seven measures of effectiveness in a late-stage patient trial. Read more..

By ANDREW POLLACK - The New York Times

G.M. Posts $3.3 Billion Loss

The results are likely to raise questions about the viability of G.M.’s turnaround, particularly after its cross-town rival, Ford, reported a profit last week. Read more..

By NICK BUNKLEY - The New York Times

Telling the Heavyweights They Have to Be Agile

As the advertising industry confronts profound changes in media and technology, agency leaders were given a dose of tough love at their annual conference. Read more..

By STUART ELLIOTT - The New York Times

The Road to a Jumbo Mortgage Was Supposed to Get Easier

The effort to make it easier to get loans over $417,000 has yielded frustration, with many saying the loans are not available or the rates are far higher than they expected. Read more..

By MATT RICHTEL - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO25.7425.9725.5125.6452.3M
Oracle Corp.ORCL21.4421.5820.8020.8541.9M
General ElectricGE32.8533.2832.6032.7040.4M
JPMorgan ChaseJPM47.2548.6446.7347.6536.3M
AT&T Inc.T38.7439.3838.5538.7123.4M
Procter & GamblePG67.8568.4966.8767.0521.9M
Wells Fargo & Co.WFC29.8930.5929.5729.7521.5M
Wal-Mart StoresWMT58.7059.0457.8857.9820.3M
Abbott LaboratoriesABT53.7053.8052.5952.7518.4M
Verizon CommunicationsVZ38.3139.0538.2538.4818.4M
HP Inc.HPQ48.0348.0346.1146.3516.5M
Home DepotHD29.3629.6528.7428.8015.2M
Bristol-Myers SquibbBMY21.9222.4521.8221.9714.6M
UnitedHealth GroupUNH33.6033.6032.5032.6314.3M
Johnson & JohnsonJNJ67.4567.6766.9267.0913.1M
Walt Disney & Co.DIS32.7833.0332.3332.4313.1M
International Business MachinesIBM123.34123.50120.50120.708.13M
Union PacificUNP143.98147.31143.51145.196.89M
Gilead SciencesGILD52.0152.5351.4951.765.94M
United TechnologiesUTX73.1173.8472.3372.475.04M
Berkshire HathawayBRK.B4406.004457.004380.004457.0026.9K
Exchange Rates of April 30, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 103.970 JPY1 JPY = 0.010 USD
US DollarCanadian Dollar1 USD = 1.006 CAD1 CAD = 0.994 USD
US DollarSwiss Franc1 USD = 1.035 CHF1 CHF = 0.966 USD
US DollarChinese Yuan1 USD = 6.989 CNY1 CNY = 0.143 USD
EuroJapanese Yen1 EUR = 162.380 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.786 GBP1 GBP = 1.273 EUR
EuroAustralian Dollar1 EUR = 1.656 AUD1 AUD = 0.604 EUR
EuroCanadian Dollar1 EUR = 1.571 CAD1 CAD = 0.636 EUR
EuroSwiss Franc1 EUR = 1.617 CHF1 CHF = 0.619 EUR
Japanese YenPound Sterling1 JPY = 0.484 GBP1 GBP = 2.068 JPY
Japanese YenAustralian Dollar1 JPY = 1.019 AUD1 AUD = 0.981 JPY
Japanese YenCanadian Dollar1 JPY = 0.967 CAD1 CAD = 1.034 JPY
Japanese YenSwiss Franc1 JPY = 0.995 CHF1 CHF = 1.005 JPY
Pound SterlingAustralian Dollar1 GBP = 2.107 AUD1 AUD = 0.475 GBP
Pound SterlingCanadian Dollar1 GBP = 2.000 CAD1 CAD = 0.500 GBP
Pound SterlingSwiss Franc1 GBP = 2.057 CHF1 CHF = 0.486 GBP
Australian DollarCanadian Dollar1 AUD = 0.948 CAD1 CAD = 1.054 AUD
Australian DollarSwiss Franc1 AUD = 0.976 CHF1 CHF = 1.025 AUD
Canadian DollarSwiss Franc1 CAD = 1.028 CHF1 CHF = 0.972 CAD

See what else happened on April 30, 2008