....so is this, Carolyn....Corning replaces INSP on the Fortune e-50 Index.....
Corning Inc. to Join FORTUNE e-50 Index
NEW YORK, Mar 20, 2001 (BUSINESS WIRE) -- FORTUNE announced today that Corning, Inc. (NYSE: GLW chart, msgs) will be added to the FORTUNE e-50(TM) Index (Symbol: FEX chart, msgs) after the close of trading on Friday, March 23, 2001, replacing component InfoSpace, Inc. (NASDAQ: INSP chart, msgs).
Corning, Inc., a global, technology-based corporation, operates in three broad business segments - Telecommunications, Advanced Materials, and Information Display - and, together with its subsidiaries, manufactures products at approximately 40 plants in 20 countries. Corning, based in Corning, New York, reported sales of $2.1 billion for the quarter ended 12/31/2000.
Index components are ordinarily removed from the Index if, during a 25-consecutive-trading-day-period, a company's closing share price falls below $5.00, daily trading volume is less than 100,000 shares, or total market capitalization is below $100 million. Over the past 25 trading days, InfoSpace's closing share price remained below $5.00.
The FORTUNE e-50 Index was developed by the editors of FORTUNE to be the definitive benchmark of the Internet economy. Index component selections are made at the discretion of the FORTUNE Index Committee. In general, the Committee selects the 50 companies that best represent the Internet economy in the subsectors of e-Companies, Internet Communications, Internet Hardware, and Internet Software and Services. Company additions to and deletions from the FORTUNE e-50 Index do not in any way reflect an opinion on the investment merits of the company.
For more information about the FORTUNE e-50 Index, including Index policies and procedures, as well as the entire list of companies in the FORTUNE e-50 Index, visit indexes.fortune.com. Index updates and changes can be viewed at www.amextrader.com.
The FORTUNE e-50 Index is licensed for use as the basis of a number of investment products including the FORTUNE e-50(TM) Index Tracking Stock (AMEX: FEF chart, msgs), as well as conventional mutual funds, futures, and options on futures. These products are not sponsored, sold, promoted, or endorsed by FORTUNE, a division of Time Inc., and FORTUNE makes no representation and has no liability with regard to investing in them.
FORTUNE e-50 Index - Effective March 23, 2001
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ACTION COMPANY INDUSTRY SECTOR
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ADDED Corning, Inc. Internet Hardware
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DELETED InfoSpace, Inc. e-Company
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FORTUNE and FORTUNE e-50 are trademarks of Time Inc. FORTUNE makes no warranty as to the accuracy and or completeness of the FORTUNE e-50 Index or the data included therein or the results to be obtained from the use of the FORTUNE e-50 Index or the data included therein.
Contact:
FORTUNE, New York
Susan Brown, 212/522-4071
susan_brown@timeinc.com |
