The Ticker A Look Back At The Past Week On Wall Street

Who’s hot

This week’s edition of the ticker is devoted to Monday’s upcoming changes in the Dow Jones industrial average. The average has undergone many facelifts in its 100 years, but the shuffling of eight stocks announced Wednesday is one of the more dramatic, a paradigm shift - to use an overused ‘90s term. Coming onboard Monday are Travelers Group Inc., Hewlett-Packard Co., Johnson & Johnson and yes, that’s right, Wal-Mart Stores Inc. It’s the last one that signals the end of an era. Gone is Woolworth Corp., which has its roots in the five and dime era. In is Sam’s good-old retail superstores, with down-home friendliness and prices. The four companies enjoyed the attention this week, with Travelers closing at $53.12-1/2, H-P at $55.37-1/2, Johnson & Johnson at $57.62-1/2 and Wal-Mart at $28.75.

What’s not

Well there’s Woolworth. Then there’s Westinghouse Electric Corp., Texaco Inc. and Bethlehem Steel Corp. With Bethlehem getting the boot, and USX dropped in 1991, the “industrial” average will no longer include a steel manufacturing company. The news wasn’t good for the four losers, with Texaco losing the most on Thursday and Friday, closing the week at $101.12-1/2, down $1.62-1/2 since the announcement.