continued From page M1
was formed during June 2000 through the merger of Bell Atlantic Corp., which was a part of AT&T and GTE Corp.
Mr. Prestdo noted that the changes mark the third time a descendant of an industrial-average component has taken the place of a broken-apart parent com=pant. ExxonMobil Corp. is a combination of two descendants of standard Oil Co.(New Jersey), broken up during 1911. Boeing Co. and United Aircraft Corp., which was split during 1934.
Dow Joned said the changes won"t cause any disruption in the level of the index. The company said the divisor used to calculate the industrial average from its components" prices on their re-spective home markets will be changed before the opening bell April 8 to prevent any distortion in the average"s reflection of the U.S stock market.
The average was created by Charles H. Dow as a 12-stock index in may 1896.
Shares of the six stocks involved in the shuffling of the average opende as expected: those being added rose at the open, while those being removed fell.
During late-morning New York trad-ing, AIG shares were up 3%, Pfizer shared were up 1.9% and Veriwon was up 2.5% Meanwhile, shares of AT&T were down about 1%, Kodak was off 2.4% and International Paper was down slightly.
For kodak, mare news weighed on the stock. Late Wedenesday, Sony corp. filed a patent-infringement lawsuit against the Rochester, New york, Company for digital-camera-related technologies.
Dow Jones publishes The Wall Street Journal and its international and online editions, Dow Jones Newswires, Bar-ron"s and the Far Eastern Economic Fe-view, Dow Jones Indexes, and the ott-away group of community newspapers in the U.S.Dow Jones is co-owner with Feut-ers Group of Factiva, with Hearst of SmartMoney and with NBC of the CNBC televison operations in Asia and Europe. Dow Jones also provides news content to CNBC and radio stations in the U.U.
-From Dow Jones Newswires
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