Financial news on May 30th, 2008

Business and Financial news
Courts Reject Two Major Vioxx Verdicts

The major victories for Merck pushed the litigation over Vioxx closer to conclusion and highlighted the difficulty that plaintiffs’ lawyers are having in winning lawsuits against big drug companies. Read more..

By ALEX BERENSON - The New York Times

For Dunkin’, a Tempest in an Iced-Coffee Cup

A scarf that the food celebrity Rachael Ray wore in a Dunkin’ Donuts advertisement on the Web has generated much attention from conservative bloggers. Read more..


Health’s Gain May Be Army’s Loss

Call it the law of unintended consequences. When you fix one thing, it messes up other things. Read more..

By FLOYD NORRIS - The New York Times

Lose Homes, Pay More Tax

Some of the biggest losers in the real estate slump are not purchasers of mansions they could not afford. They are buyers of second homes who are sitting on a tax time bomb. Read more..

By JONATHAN GLATER - The New York Times

Notebook Sales Help Dell to Surpass Forecasts

Dell beat analysts’ forecast for its first quarter on strong notebook sales and lower costs, suggesting that the company’s year-old turnaround plan is working. Read more..

By LAURIE J. FLYNN - The New York Times

Potter Was Still Magical, but Not All Books Rose

The final Harry Potter installment gave a much-needed jolt to the publishing industry last July, but publishers still struggled to sell more books overall than they did in 2006. Read more..

By MOTOKO RICH - The New York Times

Study Finds Disparities in Mortgage Fees

Minorities and people without college degrees pay more in mortgage fees than do white applicants and those with a higher education, according to a study. Read more..

By VIKAS BAJAJ - The New York Times

Stock Markets

Values are reported in US Dollars

StockTicker symbolOpenHighLowCloseVolume
Cisco SystemsCSCO26.1526.9226.1326.7261.4M
General ElectricGE30.7930.9330.5730.7250M
AT&T Inc.T40.2540.2539.8039.9025.7M
Oracle Corp.ORCL22.8022.9422.6822.8425.3M
JPMorgan ChaseJPM43.9943.9942.8743.0021.4M
Wells Fargo & Co.WFC28.2928.2927.5027.5719.4M
HP Inc.HPQ47.0547.6046.9247.0617.5M
Bristol-Myers SquibbBMY22.5023.0022.5022.7914.5M
Abbott LaboratoriesABT56.0256.6655.7956.3514M
Walt Disney & Co.DIS33.9834.0533.4833.6012.8M
Verizon CommunicationsVZ38.4138.8738.1738.4712.6M
Wal-Mart StoresWMT57.9058.0857.5057.7412.1M
Home DepotHD27.7527.7527.3527.3611.7M
Johnson & JohnsonJNJ66.4967.0366.3666.7411M
Procter & GamblePG65.5366.1365.3266.059.76M
International Business MachinesIBM129.22129.99128.80129.438.65M
UnitedHealth GroupUNH34.5834.7334.0634.217.64M
Union PacificUNP80.7582.6180.2082.316.06M
Gilead SciencesGILD55.2155.5754.8055.325.81M
United TechnologiesUTX70.3071.2369.7671.045.31M
Berkshire HathawayBRK.B4455.004520.004372.004498.00179K
Exchange Rates of May 30th, 2008
CurrenciesExchange Rates
US DollarJapanese Yen1 USD = 105.500 JPY1 JPY = 0.009 USD
US DollarCanadian Dollar1 USD = 0.993 CAD1 CAD = 1.007 USD
US DollarSwiss Franc1 USD = 1.042 CHF1 CHF = 0.960 USD
US DollarChinese Yuan1 USD = 6.943 CNY1 CNY = 0.144 USD
EuroJapanese Yen1 EUR = 164.110 JPY1 JPY = 0.006 EUR
EuroPound Sterling1 EUR = 0.785 GBP1 GBP = 1.275 EUR
EuroAustralian Dollar1 EUR = 1.627 AUD1 AUD = 0.615 EUR
EuroCanadian Dollar1 EUR = 1.544 CAD1 CAD = 0.648 EUR
EuroSwiss Franc1 EUR = 1.621 CHF1 CHF = 0.617 EUR
Japanese YenPound Sterling1 JPY = 0.478 GBP1 GBP = 2.093 JPY
Japanese YenAustralian Dollar1 JPY = 0.991 AUD1 AUD = 1.009 JPY
Japanese YenCanadian Dollar1 JPY = 0.941 CAD1 CAD = 1.063 JPY
Japanese YenSwiss Franc1 JPY = 0.988 CHF1 CHF = 1.013 JPY
Pound SterlingAustralian Dollar1 GBP = 2.073 AUD1 AUD = 0.482 GBP
Pound SterlingCanadian Dollar1 GBP = 1.969 CAD1 CAD = 0.508 GBP
Pound SterlingSwiss Franc1 GBP = 2.065 CHF1 CHF = 0.484 GBP
Australian DollarCanadian Dollar1 AUD = 0.949 CAD1 CAD = 1.054 AUD
Australian DollarSwiss Franc1 AUD = 0.996 CHF1 CHF = 1.004 AUD
Canadian DollarSwiss Franc1 CAD = 1.049 CHF1 CHF = 0.953 CAD

See what else happened on May 30th, 2008