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Non-Tech : General Electric (GE) -- Ignore unavailable to you. Want to Upgrade?

To: Scott Kleinhans who wrote (599)	9/16/1998 8:28:00 AM
From: Jerry Miller	Read Replies (2) \| Respond to of 3256

Microsoft Now Most Valuable Company NEW YORK (AP) -- Microsoft (Nasdaq:MSFT - news) may face an antitrust suit from the Justice Department, but that hasn't swayed investors from making the software giant the most valuable company in the United States. Sometime during trading Monday, Microsoft Corp. took over the top spot in terms of market capitalization from General Electric Co. (NYSE:GE - news) The Redmond, Wash.-based company retained its position on Tuesday, closing at $108.31 1/4, up $2.31 1/4, in trading on the Nasdaq Stock Market. With 2.46 billion shares outstanding, Microsoft is worth about $260.7 billion. General Electric closed $78.06 1/4, down $1.06 1/4, in trading on the New York Stock Exchange, valuing it at $253.9 billion. It has 3.25 billion shares outstanding. Market capitalization is calculated by multiplying the stock price by the number of shares outstanding. Despite being ahead of the Fairfield, Conn.-based GE in market capitalization, Microsoft is still a significantly smaller company, taking in $14.5 billion during its past fiscal year as compared with GE's $88.5 billion. In July, General Electric set a benchmark in becoming the first company to surpass $300 billion, reaching a high of about $315.3 billion. Its stock, valued then at $96.87 1/2, has fallen nearly 20 percent since then. GE's key businesses include appliances, aircraft engines and the NBC television network. Microsoft also surpassed the $300 billion level in July, though its stock has fallen only 12 percent from its 52-week high of $119.62