Is this move positive, negative, or neutral?
NEW YORK (Dow Jones)--Morgan Stanley & Co. will change the composition of its Morgan Stanley High-Technology 35 Index in an effort to increase the index's exposure to the data networking, telecommunications technology and Internet industries, John Henrichs, an analyst at the firm, said.
The firm added the following issues to the index: Ascend Communications Inc. (ASND), Cascade Communications Corp. (CSCC), Netscape Communications Corp. (NSCP), PeopleSoft Inc. (PSFT), SGS-Thomson Microelectronics N.V. (STM), Sun Microsystems Inc. (SUNW), and U.S. Robotics Corp. (USRX).
To accommodate the additions, the firm deleted from the index: Apple Computer Inc. (AAPL), Autodesk Inc. (ADSK), Broderbund Software Inc. (BROD), Cabletron Systems Inc. (CS), EMC (EMC), Novell (NOVL), and Synopsys Inc. (SNPS).
Henricks said the changes will be made after Dec. 20, when options on the index expires. The index will then be rebalanced, with the substitions made.
The Morgan Stanley High-Tech 35 Index was created last June, and trades on the American Stock Exchange.
(END) DOW JONES NEWS 12-06-96
2:22 PM
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