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Y&R gets spot on S&P
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December 29, 1999: 7:49 p.m. ET
Global marketing company to replace General Instrument on S&P 500
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NEW YORK (CNNfn) - One year after going public, Young & Rubicam, one of the world’s largest marketing and advertising firms, is replacing cable television equipment maker General Instrument Corp. on the S&P 500.
Standard and Poor’s, a division of the McGraw-Hill Companies Inc. (MHP), said Wednesday that the New York-based ad agency will replace the Horsham, Pa.-based GIC (GIC) at the close of trading on Jan. 5.
Motorola Inc. (MOT), an S&P 400 component based in Schaumburg, Ill., is acquiring GIC for about $11 billion in stock.
Y&R’s stock activity over the last year
After three-quarters of a century as a private company, Y&R (YNR) began trading on the New York Stock Exchange on May 12, 1998. The company offers integrated services in advertising, public relations, perception management, direct marketing and healthcare communications. Y&R’s clients include Sony Corp. and AT&T (T).
The S&P 500 Index incorporates a broad base of 500 stocks and is generally considered the benchmark for large stock investors.
Separately, Standard & Poor’s announced that F.Y.I. Inc. (FYII), a Dallas-based document and information company, will replace T J International (TJCO) in the S&P Small Cap 600 Index after the close of trading on Jan. 5. Weyerhaeuser Corp. (WY), an S&P 500 component is acquiring T J International in a deal expected to close on that date. 
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