[PCCW Deleted]Dow Jones Changes Stks In Global Titans Indexes
NEW YORK -- Dow Jones & Co.'s (DJ) Dow Jones Indexes unit changed four component stocks in its Dow Jones Global Titans 50 Index.
The changes, made after completion of a regular annual component review, will be effective after the close of trading June 15, Dow Jones Indexes said in a press release Monday. The review is based on a method that considers free-float market capitalization as well as fundamental factors.
Dow Jones Indexes will add Tyco International Ltd. (TYC), AOL Time Warner Inc. (AOL), Pfizer Inc. (PFE) and GlaxoSmithKline PLC (GSK) to the index, replacing Hewlett-Packard Co. (HWP), Lucent Technologies Inc. (LU), General Motors Corp. (GM) and France Telecom (FTE).
As of April 30, the cutoff date for the selection list, Deutsche Telekom AG (DT) wasn't among the top 100 companies by free-float market capitalization that form the selection list for the Global Titans 50. However, due to the acquisitions of VoiceStream Wireless and Powertel and its increased free float market capitalization, Deutsche Telekom will remain in the index.
Total free-float market capitalization of the reconstituted Global Titans 50 index will increase to $6.2 trillion from $5.4 trillion.
After the annual review, a total of 17 stocks are being changed from the 540 companies included in the 18 Dow Jones Sector Titans indexes. Those changes are as follows:
NKK Corp. (J.NKK) will replace Sumitomo Metal Mining Co. Ltd. (J.SMT) in the Basic Resources sector.
Bass PLC (BAS) and Compagnie Financiere Richemont (Z.CFR) will replace Pioneer Corp. (PIO) and Royal Caribbean Cruises Ltd. (RCL) in the Cyclical Goods & Services sector.
Degussa AG (G.DGX) will replace Hitachi Chemical Co. (J.HCH) in the Chemicals sector.
Fluor Corp. (FLR) will replace Sumitomo Osaka Cement Co. Ltd. (J.SCC) in the Construction sector.
Sankyo Co. Ltd. (J.SKY) and Beckton, Dickinson & Co.(BDX) will replace Applied Biosystem Applera (ABI) and Aetna Inc. (AET) in the Healthcare sector.
Burlington Northern Santa Fe Corp. (BNI) will replace TDK Corp. (TDK) in the Industrial Goods & Services sector.
Old Mutual PLC (U.OML) will replace MBIA Inc. (MBI) in the insurance sector.
Granada PLC (U.GAA) will replace Grupo Televisa S.A. de C.V. (TV) in the media sector.
R.J. Reynolds Tobacco Holdings Inc. (RJR) and Deutsche Post World Net AG (G.DPW) will replace Ebay Inc. (EBAY) and Pacific Century Cyberworks Ltd. (PCW) in the Non-Cyclical Goods & Services sector.
McKesson HBOC Inc. (MCK) and J.C. Penney Co. (JCP) will replace RadioShack Corp. (RSH) and Amazon.com Inc. (AMZN) in the Retail sector.
Swisscom AG (SCM) will replace Hellenic Telecommunications Organization (I.HTL) in the Telecom sector.
Mirant Corp. (MIR) and Exelon Corp. (EXC) will replace PG&E Corp. (PCG) and Edison International (EIX).
The components in the Automobiles, Banks, Food and Beverage, Financial Services and Technology sectors remain unchanged.
Two stocks in the Dow Jones Asian Titans 50 index will be changed. Kansai Electric Power Co. (J.KEP) and CLP Holdings Ltd. (H.CLP) will be added, and Seven-Eleven Japan Co. (J.SEV) and Pacific Century Cyberworks Ltd. (H.PCW) will be deleted.
In addition to this and other newswires, Dow Jones publishes The Wall Street Journal and its international and online editions, Barron's and SmartMoney magazines and other periodicals, dowjones.com, Dow Jones Indexes and the Ottaway group of community newspapers. Dow Jones is also co-owner with Reuters Group of Factiva and with NBC of the CNBC television operations in Asia and Europe. Dow Jones also provides news content to CNBC and to radio stations in the U.S.
Company Web site: dj.com
-Susan Willetts; Dow Jones Newswires; 201-938-5388
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