I have the following dataframe:
obj_id data_date value
0 4 2011-11-01 59500
1 2 2011-10-01 35200
2 4 2010-07-31 24860
The aggregate() method on groupby objects can be used to create a new DataFrame from a groupby object in a single step. (I'm not aware of a cleaner way to extract the first/last row of a DataFrame though.)
In [12]: df.groupby('obj_id').agg(lambda df: df.sort('data_date')[-1:].values[0])
Out[12]:
data_date value
obj_id
1 2009-07-28 15860
2 2011-10-01 35200
4 2011-11-01 59500
You can also perform aggregation on individual columns, in which case the aggregate function works on a Series object.
In [25]: df.groupby('obj_id')['value'].agg({'diff': lambda s: s.max() - s.min()})
Out[25]:
diff
obj_id
1 0
2 165000
4 34640