February 28, 2001 |
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.
November 12, 1998 |
Danaher Corp. (ticker symbol: DHR), a Washington-based maker of tools and auto components, will replace Stone Container Corp. in the Standard & Poor's 500 index at the close of trading Tuesday. Jefferson Smurfit Corp. is acquiring Stone Container, and the transaction is expected to close that day. Stocks of companies that join the S&P 500 sometimes get a boost because mutual funds that seek to track the blue-chip index must buy shares. Danaher closed unchanged Wednesday at $40.
April 6, 1999 |
The first quarter of 1999 may have seemed like another bitter performance pill for mutual fund investors to swallow. But it depends on how you measure it. True, fewer than 25% of all U.S. diversified stock funds managed to beat the benchmark Standard & Poor's 500 index of blue-chip stocks, continuing a frustrating five-year trend that has given the fund industry a PR problem. And the average domestic stock fund was up just 0.9% for the quarter, versus 5% for the S&P.
December 6, 2000 |
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.
September 4, 2001 |
Wall Street gets back to business this week to confront a stock market that appears in far weaker shape than when the summer began. Much like the economy, however, the market has been throwing off mixed signals about its status--and about what it might do next. Key indexes, including the Dow industrials and the technology-heavy Nasdaq composite, have slumped since June 1, and by last week were nearing the two-year lows set in late March and early April. The Dow closed at 9,949.
January 3, 2001 |
Happy New Year from Nasdaq. That market's composite index plunged 178.66 points, or 7.2%, to 2,291.86 on Tuesday, as investors opened the year by hammering already-depressed tech shares, as well as some that had escaped 2000 relatively unscathed. The broader market also was lower in the wake of a new report showing another slump in manufacturing activity. The blue-chip Dow Jones industrial average fell 140.70 points, or 1.3%, to 10,646.15, led by a dive in General Electric's shares.