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Associated Press
Midday Leaders & Laggards: S&P 500
Associated Press 06.01.07,
12:23 PM ET
Dow Jones & Co. was among the stocks leading the Standard & Poor's 500 Index higher in midday trading Friday after the financial news publisher's controlling shareholder agreed to meet with Rupert Murdoch to discuss his bid to buy the company for $5 billion.
The Bancroft Family, which collectively holds a majority of the New York-based company's voting rights, said it would meet with Rupert Murdoch to discuss News Corp.'s bid, as well as consider other strategies.
Shares of Dow Jones leaped $7.75, or 14.5 percent, to $61.03. The shares have not traded higher than $60 since 2001.
Another leader was Circuit City Stores Inc., a Richmond, Va.-based electronics retailer. The company said it eliminated about 200 corporate office jobs as part of a plan to cut costs.
Shares of Cicuit City jumped 91 cents, or 5.7 percent, to $16.98.
Shares of Safeway Inc., a Pleasanton, Calif.-based grocer, rose $2.09, or 6.1 percent, to $36.57.
In midday trading, the S&P 500 Index was up 4.3 to 1,534.68.
Among laggards on the index, shares of Big Lots Inc. continued falling after the discount retailer reported slowing sales growth and weaker profit margin in the first quarter.
Big Lots' stock sank 71 cents, or 2.3 percent, to $30.80.
Another decliner was Jabil Circuit Inc., a St. Petersburg, Fla.-based electronic manufacturing services provider that was downgraded by Matrix Research to "Hold" from "Buy." Jabil's shares lost 45 cents to $22.55.
Shares of media conglomerate Viacom Inc. fell $1.04 to $43.91.
Copyright 2007 Associated Press. All rights reserved. This material may not be published broadcast, rewritten, or redistributed
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