xnlx to S&P 500?
NEW YORK, Aug 22 (Reuters) - Biogen Inc. , Immunex
Corp. , Xilinx Inc. and Level 3 Communications
are among the possible entrants this year into the S&P
index, according to Merrill Lynch equity derivatives strategist
Diane Garnick, quoted in the latest issue of Barron's.
Merger activity should create seven openings in the S&P 500
between now and the end of October with Mobil, Ameritech, King
World Productions and Frontier Communications dropping out of
the index due to their pending mergers, the report said.
Garnick also named Old Kent Financial Corp. , T. Rowe
Price , Telephone & Data Systems , First
Tennessee National Corp. and ServiceMaster Co.
contenders for the S&P 500 index.
Internet stocks, due to their volatility and narrow "float"
-- amount of stock in public's hands, have a slim chance of
winning the coveted spots on the index. But Yahoo!
could probably be the next Internet stock because it is the
largest company in the sector after America Online andhas the highest float.
Berkshire Hathaway, Goldman Sachs, Fox Entertainment,
Genentech, Equitable and Travelers Property & Casualty -- were
among the names mentioned as unlikely winners becuase of their
limited trading volume and float. ((NY Equities 212-859-1700)) |
