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BUSINESS
February 28, 2001 | Dow Jones
Newport Corp., an Irvine supplier of high-precision fiber-optic instruments, will be added to the Standard & Poor's MidCap 400 Index after the close of trading today. Newport will replace Cintas Corp., the maker of corporate-identity uniforms that is moving to the S&P 500 Index, replacing Summit Bancorp. FleetBoston Financial Corp. is acquiring Summit in a transaction expected to close today.
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BUSINESS
December 6, 2002 | From Associated Press
Finance officials from California and nine other states asked Standard & Poor's to remove 10 offshore companies from the S&P 500 index. The request is the latest in a series of attempts to pressure the companies to reregister in the United States. National labor officials joined the state officials in arguing that the companies aren't paying their fair share of taxes because they're based in places such as Bermuda or the Cayman Islands.
BUSINESS
December 6, 2000 | Dow Jones
Standard & Poor's said Tuesday that it will add QLogic Corp., an Aliso Viejo designer of chips and circuit boards that link computers and data-storage systems, to its S&P 500 Index. S&P said in a press release that QLogic, already an S&P MidCap 400 component, will join two other newcomers, Vitesse Semiconductor Corp. and Stryker Corp., effective Monday. The companies will replace Polaroid Corp., Springs Industries Inc. and Russell Corp., all of which will move to the SmallCap 600 index.
BUSINESS
December 31, 2009 | By Tom Petruno
The U.S. stock market today will close out its best year since 2003, an amazing comeback from what felt like Armageddon to many investors just nine months ago. Yet today also ends by far the worst decade for stocks overall since World War II. At 10,548 on Wednesday, the Dow Jones industrial average was up 20% for the year -- but still 8% below its level at the end of 1999. The last time the Dow failed to make any net progress in a decade was in the 1930s, when it sank 39% during the Great Depression.
BUSINESS
September 24, 1996 | From Bloomberg Business News
None of the 10 biggest U.S. stock mutual funds is generating higher returns than the Standard & Poor's 500 index over the last three years. The funds, ranging from the $53.2-billion Fidelity Magellan Fund to the $15.2-billion Vanguard Windsor Fund, have all recorded lower gains than the S&P 500's annual return of 17.1% since September 1993, according to a report by Lipper Analytical Services Inc.
BUSINESS
April 3, 1993 | SCOT J. PALTROW, TIMES STAFF WRITER
Responding to trouble in Marlboro Country, Philip Morris shocked Wall Street and the tobacco industry Friday with word that it will begin deeply discounting the nation's leading cigarette brand. Announcement of the move, which will cut an estimated 40% this year from the company's U.S. tobacco earnings, sent Philip Morris' stock plunging $14.75 to $49.375 and helped trigger a 68.63 drop in the Dow Jones industrial average. Philip Morris is one of the 30 stocks used to calculate the average.
BUSINESS
August 8, 2009 | Associated Press
NEW YORK -- Stocks rose early today after a new report showed job losses were less than anticipated and the unemployment rate unexpectedly dipped. Overseas markets also rallied on the U.S. jobs data. In the latest sign the economy could be recovering faster than expected, the Labor Department said companies shed 247,000 jobs in July. Economists had expected 320,000 job cuts. The unemployment rate dropped to 9.4 percent from 9.5 percent in June. Economists forecast the rate would rise to 9.6 percent.
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