Financial news on July 30, 2008

Business and Financial news
A Deal at Merrill Puts Spotlight on Others

The fire sale of mortgage investments at Merrill Lynch raises a troubling question for the nation’s financial industry: Have other banks with similar investments overestimated their values? Read more..

By LOUISE STORY - The New York Times

At Kennedy, Shopping and Dining, Followed by a Takeoff

The retailing mix at Kennedy International Airport is changing, with more new and unexpected offerings and more restaurants than ever. Read more..

By JANE L. LEVERE - The New York Times

Canadian Mine Operator Bids to Buy Coal Producer

Teck Cominco, a major Canadian mining company, made a $14.4 billion bid for Fording Canadian Coal Trust, a producer of high-value coal used to make steel. Read more..

By IAN AUSTEN - The New York Times

In Providence, Progress in Reviving an Urban Desert

A developer is creating a $300 million mixed-use development on 18.5 acres on the Woonasquatucket River, about a mile from downtown in Providence, R.I. Read more..

By ELIZABETH ABBOTT - The New York Times

Only a Game? A Fight Over Scrabble Has Web Fans Fuming

The Calcutta-based brothers who developed Scrabulous bowed to legal pressure and barred North American users from playing the game on Facebook. Read more..

By HEATHER TIMMONS - The New York Times

Patricof Congratulates Icahn (No, Not Really)

Alan Patricof took aim at Carl C. Icahn in a tongue-in-cheek post relating to Mr. Icahn’s recent deal with Yahoo to join the Internet giant’s board. Read more..

By DEALBOOK - The New York Times

Restaurant Chains Close as Diners Reduce Spending

Soaring food costs and a surfeit of locations have hurt the casual dining sector’s bottom lines just as Americans are choosing to take more meals at home. Read more..

By MICHAEL M. GRYNBAUM - The New York Times

Union of Whole Foods and Wild Oats Is Put in Doubt

The marriage between Whole Foods Market and Wild Oats Markets was thrown into doubt again by a federal appeals court. Read more..

By ANDREW MARTIN - The New York Times

U.S. Won’t Release Land in Conservation Program

Despite pressure, the Department of Agriculture said it would not waive penalties for farmers who decide to plant crops on land set aside for conservation. Read more..

By ANDREW MARTIN - The New York Times

Weak Ad Revenue From Cable Channels Weighs on Viacom

Viacom said that advertising revenue at its cable channels had been lower than expected in the second quarter. Read more..

By TIM ARANGO - The New York Times

Stock Markets

Values are reported in US Dollars

Stock Ticker symbol Open High Low Close Volume
Wells Fargo & Co. WFC 31.00 31.50 29.87 31.20 65.7M
General Electric GE 28.73 29.35 28.56 28.97 55.4M
Cisco Systems CSCO 22.59 22.69 21.80 22.17 52.6M
Intel INTC 22.30 22.45 21.28 22.23 52.6M
Microsoft MSFT 26.18 26.49 25.90 26.23 52M
JPMorgan Chase JPM 41.41 42.07 39.97 41.57 48M
Comcast CMCSA 19.70 20.59 19.68 20.07 37.5M
ExxonMobil XOM 80.90 84.76 80.53 84.38 36.4M
Oracle Corp. ORCL 21.37 21.45 20.97 21.31 31.7M
Apple AAPL 157.71 160.49 156.08 159.88 25.9M
AT&T Inc. T 30.92 31.09 30.53 30.91 23.7M
ConocoPhillips COP 80.05 84.99 79.91 84.68 20.6M
Abbott Laboratories ABT 56.10 57.69 55.77 56.85 19.9M
Wal-Mart Stores WMT 57.61 59.00 57.61 58.56 19.4M
Home Depot HD 24.70 25.00 23.30 23.74 19.3M
Visa V 77.25 78.90 74.27 78.45 19M
Walt Disney & Co. DIS 31.24 31.77 30.89 31.67 18.2M
Chevron CVX 83.11 87.42 82.42 87.26 17.3M
HP Inc. HPQ 44.49 45.17 44.25 45.06 16M
Merck MRK 32.46 33.46 32.40 32.97 15.8M
Amgen AMGN 61.96 63.07 61.16 62.30 15.3M
Verizon Communications VZ 34.25 34.49 33.86 34.34 14.6M
Procter & Gamble PG 65.43 66.76 65.43 66.57 13.6M
Altria MO 21.30 21.86 21.18 21.70 13.5M
Johnson & Johnson JNJ 68.70 68.70 67.71 68.08 13.5M
Schlumberger SLB 96.18 102.41 95.50 102.41 13.2M
UnitedHealth Group UNH 27.65 27.93 26.69 27.28 10.5M
Bristol-Myers Squibb BMY 21.59 21.80 21.18 21.51 9.95M
Coca-Cola KO 51.85 52.00 51.00 51.31 9.74M
Pfizer PFE 18.69 19.11 18.60 18.88 9.7M
Gilead Sciences GILD 53.96 54.59 53.00 53.91 8.1M
Union Pacific UNP 81.36 83.91 81.13 83.25 8.09M
Pepsico PEP 67.25 67.63 66.57 66.91 7.88M
McDonald's MCD 60.05 60.78 59.90 60.45 7.74M
Amazon AMZN 78.60 79.85 76.42 78.21 7.57M
Alphabet GOOGL 485.50 486.02 472.81 482.70 6.97M
Boeing BA 63.59 63.93 63.00 63.82 6.01M
International Business Machines IBM 128.12 129.00 127.09 128.86 5.83M
United Technologies UTX 65.64 66.62 65.38 66.25 5.7M
3M MMM 70.75 71.44 70.05 71.30 3.86M
Berkshire Hathaway BRK.B 3733.00 3805.00 3705.00 3805.00 44.8K
Exchange Rates of July 30, 2008
CurrenciesExchange Rates
US Dollar Japanese Yen 1 USD = 108.070 JPY 1 JPY = 0.009 USD
US Dollar Canadian Dollar 1 USD = 1.023 CAD 1 CAD = 0.978 USD
US Dollar Swiss Franc 1 USD = 1.048 CHF 1 CHF = 0.954 USD
US Dollar Chinese Yuan 1 USD = 6.827 CNY 1 CNY = 0.146 USD
Euro Japanese Yen 1 EUR = 168.340 JPY 1 JPY = 0.006 EUR
Euro Pound Sterling 1 EUR = 0.786 GBP 1 GBP = 1.272 EUR
Euro Australian Dollar 1 EUR = 1.649 AUD 1 AUD = 0.606 EUR
Euro Canadian Dollar 1 EUR = 1.593 CAD 1 CAD = 0.628 EUR
Euro Swiss Franc 1 EUR = 1.633 CHF 1 CHF = 0.612 EUR
Japanese Yen Pound Sterling 1 JPY = 0.467 GBP 1 GBP = 2.143 JPY
Japanese Yen Australian Dollar 1 JPY = 0.979 AUD 1 AUD = 1.021 JPY
Japanese Yen Canadian Dollar 1 JPY = 0.946 CAD 1 CAD = 1.057 JPY
Japanese Yen Swiss Franc 1 JPY = 0.970 CHF 1 CHF = 1.031 JPY
Pound Sterling Australian Dollar 1 GBP = 2.098 AUD 1 AUD = 0.477 GBP
Pound Sterling Canadian Dollar 1 GBP = 2.027 CAD 1 CAD = 0.493 GBP
Pound Sterling Swiss Franc 1 GBP = 2.077 CHF 1 CHF = 0.482 GBP
Australian Dollar Canadian Dollar 1 AUD = 0.966 CAD 1 CAD = 1.036 AUD
Australian Dollar Swiss Franc 1 AUD = 0.990 CHF 1 CHF = 1.011 AUD
Canadian Dollar Swiss Franc 1 CAD = 1.024 CHF 1 CHF = 0.976 CAD

See what else happened on July 30, 2008