Great News! HDI going to S&P 500. How about a split????
S&P says to add Harley-Davidson, Biogen to S&P 500
Mon Jan 24 18:41:00 EST 2000
NEW YORK, Jan 24 (Reuters) - Motorcycle manufacturer
Harley-Davidson Inc. and biotech firm Biogen Inc.
will become part of the Standard & Poor's 500, one of
the main U.S. stock indices that is closely watched by
investors.
Standard & Poor's said it would incorporate Harley-Davidson
and Biogen after the market closes on Friday and remove Foster
Wheeler Corp. and Fleetwood Enterprises Inc. .
"(Foster Wheeler and Fleetwood) were down at the bottom of
the index in terms of market capitalization and thought to be
unrepresentative of the economy," an S&P spokeswoman said when
asked why the two firms were plucked from the prestigious
index.
Clifton, N.J.-based Foster Wheeler makes petroleum and
alternative fuels facilities. Fleetwood Enterprises, in
Riverside, Calif., produces and sells manufactured housing.
"I'm disappointed because when you are removed from the S&P
500 it means there will be fewer buyers of your stock,"
said Paul Bingham, senior vice president of finance at
Fleetwood Enterprises.
Standard & Poor's said TriQuint Semiconductor Inc.
and Sybase Inc. would replace Harley-Davidson and
Biogen on its MidCap 400 Index. Foster Wheeler and Fleetwood
Enterprises will be relegated to the S&P SmallCap 600 Index,
the company said.
((New York Newsdesk (212) 859-1700))
REUTERS
Rtr 18:40 01-24-00
Copyright 2000, Reuters News Service
Reuters content is the intellectual property of Reuters Limited. Any copying, republication, or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in content, or for any actions taken in reliance thereon.
Questions or comments should be directed to webmaster@ragingbull.com
¸ 1997-1999 Raging Bull, Inc.
|
