Ticker Talk
Old-economy names continue to lose their place in some benchmark stock indexes.
Crown Cork & Seal Co., W.R. Grace & Co. and Owens-Illinois Inc., all defendants in lawsuits alleging harm from exposure to asbestos, will be removed from the Standard & Poor’s 500 index on Friday, S&P; announced Monday.
Crown Cork, W.R. Grace and Owens-Illinois shares have all fallen by more than 80% this year.
Bethlehem Steel Corp., whose shares have dropped 75% this year, will also be removed from the index.
Allegheny Energy Inc., an electric company, Ambac Financial Group Inc., the second-largest municipal bond insurer, Symbol Technologies Inc., which makes bar-code scanners, and software maker Intuit Inc. will replace the companies in the S&P; 500.
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