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March 30, 2000|Reuters, Times Staff

It was out with the old economy, in with the new as Standard & Poor's said Wednesday that data storage software maker Veritas Software Corp. (VRTS) will replace automotive chain store operator Pep Boys-Manny Moe & Jack Inc. (PBY) in the S&P 500 index after Friday's close. Veritas has risen 49% this year while Pep Boys has fallen 27%. . . . The Red Chip Review, research division of RedChip.com, upgraded several stocks in its latest update on the small-cap market:

* Anixter International Inc. (AXE; $27.81, down 75 cents): "With e-commerce and the Internet pushing information systems to their limits, this company's communications networks are enjoying high demand."

* Newgen Results Corp. (NWGN; $15.50, down 25 cents): "This customer relations management company with a healthy Internet presence has a strong operating model."

* Telescan Inc. (TSCN; $20.75, down 25 cents): "Investment from financial media is benefiting this designer and operator of Internet sites and online networks for third parties in the financial, publishing and entertainment industries."

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