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October 26th, 1999

[4:00 PM] Apple Stock Watch: DJIA Throws Out The Old, Brings In The New, Apple Up 9/16
by Wes George

Today, the Dow Jones Industrial Average dropped 4 long time components and replaced them with Microsoft (MSFT), Intel (INTC), SBC Communications (SBC) and Home Depot (HD). This was the first time in the history of the Dow that any of the components have been drawn from the Nasdaq. The Dow components dropped were: Chevron (CHV), Goodyear Tire and Rubber (GT), Sears (S) and Union Carbide (UK).

The affected stocks moved up in morning trading after the announcement, but profit taking reclaimed most of those gains. The changes to the DJIA do not go into effect until Monday in order to give large portfolio managers time to adjust their holdings.

The Dow declined 47.80 or 0.46% to close at 10302.13. The Nasdaq was down 4.48 to close at 2811.47. The S&P 500 sagged 11.72 or 0.91% to close at 1281.88. The volume was strong. the 30-year bond fell 11/32 to yield 6.378%

Apple was rose 9/16 today to close at 75 1/16 on less than average volume.

In Apple related stocks today, Adobe and Macromedia both closed down while Symantec rose on the news that it will provide software services over the Internet. Apple's Power PC partners ended mixed with IBM up 1 5/8, while Motorola was down. Apple's rivals Gateway, Dell and Compaq all ended the day higher. Pixar (PIXR) was up today on the news that they beat earnings estimates in a big way. Intel closed slightly higher, while Microsoft closed slightly lower.

For full quotes on all the companies mentioned in this article, we have assembled this set of quotes at Yahoo! for your reference. We also have many of these same quotes reported live (20 minute delay) on our home page. For other stories regarding Apple's stock activity, visit our Apple Stock Watch Special Report.

Apple



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