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Technology Stocks : Ascend Communications-News Only!!! (ASND)
ASND 196.01-0.8%Nov 10 3:59 PM EST
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To: Duke who wrote (1466)6/8/1998 7:23:00 PM
From: bob zagorin  Read Replies (1) of 1629
 
BN 6/8 Ascend Communications to Replace Digital in S&P 500 Index
Ascend Communications to Replace Digital in S&P 500 Index

Alameda, California, June 8 (Bloomberg) -- Ascend
Communications Inc. will replace Digital Equipment Corp. in the
Standard & Poor's 500 Index and Procter & Gamble Co. will replace
Digital in the S&P 100 Index after the close of trading Thursday,
Standard & Poor's Corp. said.

Digital Equipment is being acquired by Compaq Computer Corp.
in a $9.15 billion transaction that is expected to close
Thursday.

Stocks of companies added to the S&P indexes often rise
because managers of mutual funds that attempt to replicate the
indexes' performance must buy the shares. The S&P 500 tracks the
movement of 500 of the most commonly held stocks. The S&P 100
tracks 100 of the most commonly held stocks.

Alameda, California-based Ascend sells to phone companies
computer switches that transfer incoming Internet calls onto
phone networks.

Cincinnati-based Procter & Gamble is the largest U.S.
household-products maker, with well-known brands such as Crest
toothpaste and Tide laundry detergent.

Alameda, California-based Ascend fell 3/8 to 47 and Procter
& Gamble was unchanged at 87 7/8. Digital Equipment rose 1/4 to
56 13/16.

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