Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : America On-Line (AOL) -- Ignore unavailable to you. Want to Upgrade?

To: BomboochaBoy who wrote (377)	12/30/1998 6:30:00 PM
From: jhg_in_kc	Read Replies (2) \| Respond to of 41369

ALL: S&P Adjusts Timing Of Index Change Announcements To 5:15 PM WHAT DOES THIS IMPLY FOR AOL'S PRICE TOMORROW? JHG NEW YORK (Dow Jones)--Standard & Poor's is changing the time it announces additions and deletions to its equity indexes to 5:15 p.m. Eastern time, from 4:50 p.m., effective immediately. "We changed the time to 5:15 so news will be released after the close of composite trading," said David Blitzer, vice president, chief economist and chairman of the S&P Index Committee. "We don't want our announcements to affect a stock's official closing price for the day. This change should help eliminate that potential." When S&P announced on Dec. 22 that it was adding America Online Inc. (AOL) to the S&P 500, trading on the New York Stock Exchange had already been completed for the day. But AOL traded actively on the "third market" and on electronic networks like Reuters' Instinet. Ideally, S&P would like traders and investors to have equal access to the information before the start of trading the next day. AOL had closed that day on the NYSE at a price of 122 7/8, up 5 7/8. But the stock soared another 15 1/8, to 138, in composite trading later. Standard & Poor's is a unit of McGraw-Hill Cos. (MHP). More about America Online Inc.: From leading business publications From The Wall Street Journal