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

To: Millionairess who wrote (800)	1/1/1999 7:53:00 PM
From: Out_of_the_Trap	Read Replies (1) \| Respond to of 41369

Thanks for the post... I did say 'open'. Nothing about a closing price. Thanx :<) Strongman Friday, January 01, 1999 AOL to start New Year strong as new addition to S&P 500 By Eric C. Fleming December 31, 1998 9:15am ZDII America Online Inc. (NYSE: AOL) shares should have a happy New Year. On Monday, hundreds on index funds will buy shares of AOL to match its weighting on the Standard & Poor's 500 index. The Dulles, Va. company will be added to the S&P 500 after market close on Thursday. AOL has returned 551 percent year-to-date, closing Wednesday at 147 7/16. With all the chatter about Web portals, the online service provider now serves as the access provider for 15 million members across the world. And now AOL gets near blue chip status with membership to a well-followed index. The big deal is that 546 institutional investors will have to buy AOL on Jan. 4, according to CIBC Oppenheimer. Right now, 554 institutions hold AOL shares, making up more than 70 percent of outstanding shares. Time Warner Inc. (NYSE: TWX), a traditional media company, has 982 institutional holders, controlling about 60 percent of available shares. A downside? Stocks added to the S&P 500 this year gained an average of 3.7 percent in the days following the announced inclusion, but fell an average of 8.5 percent in the 30 days after their addition to the index, according to Merrill Lynch & Co. This isn't likely, however, since AOL is associated with the more volatile Internet stocks, such as Amazon.com Inc. (Nasdaq: AMZN), than with the S&P 500. The most significant aspect of the addition for the index is that AOL is the first pure Internet play to be included in the 500. Though the S&P is known to house such long-term performers as Coca-Cola Co. (NYSE: KO), there are a number of technology companies on the index, such the AT&T Corp. (NYSE: T) spin off Lucent Technologies Inc. (NYSE: LU). Among PC makers, Gateway Inc. (NYSE: GTW), Apple Computer Inc. (Nasdaq: AAPL), Compaq Computer Corp. (NYSE: CPQ) and International Business Machines Corp. (NYSE: IBM). Chip companies KLA-Tencor Corp. (Nasdaq: KLAC), LSI Logic Corp. (NYSE: LSI) reside on the S&P as well as Intel Corp. (Nasdaq: INTC), Advanced Micro Devices Inc. (NYSE: AMD) and National Semiconductor Corp. (NYSE: NSM) are among the S&P 500. On Dec. 21, it was announced that chipmaker Solectron Corp. (NYSE: SLR), formerly a Midcap 400 member, will be added to the index, replacing Pennzoil, which is merging with another company. Solectron was added at the close of trading Wednesday.