By: Marty Rose, AP Market Tables Editor
(AP) Mergers, corporate spinoffs, and name changes as the new year arrived will again affect newspaper stock listings, including the return of U.S. Steel as a separate company.
U.S. Steel, one of America’s economic stalwarts in the mid-20th century, will come back as a standalone entity as a result of a tax-free spinoff from USX Corp.
USX, which was composed of Pittsburgh based USX-U.S. Steel Group and USX-Marathon Group of Houston, will then change its name to Marathon Oil Corp.
The New York Stock Exchange tickers will remain X and MRO respectively, and they will appear in Associated Press composite stock tables as USSteel and Marathon.
Other changes include:
* Shamrock Logistics LP, (NYSE, UDL) a San Antonio, Texas-based transporter of refined products, will change its name to Valero LP (NYSE, VLI) upon completion of a merger between Valero Energy Corp. and Ultramar Diamond Shamrock Corp. The new company will appear in the tables as ValeroLP.
* Jacksonville, Fla.-based Modis Professional Services Inc. (NYSE, MPS) will become MPS Group Inc. The human resources company has sold its Scientific Staffing business to Kforce Inc. and will acquire Kforce’s legal division. The stock will be listed as MPS Grp., while its ticker symbol remains the same.
* After acquiring Masonite Corp. from International Paper Co., Premdor Inc. (NYSE, PI), an Ontario, Canada-based maker of interior and exterior doors, will change its name to Masonite International (NYSE, MHM). It will appear as Masonite g in the tables, with the “g” denoting a Canadian company.
* Public Service Co. of New Mexico is now trading as a holding company named PNM Resources. The creation of the holding company for the Albuquerque-based gas and electric utility was delayed until the New Mexico Public Regulation Commission approved a settlement between the company and several other parties. PNM Res will be the stock abbreviation, which was effective at the opening of trading Monday, while the NYSE ticker is PNM.
* Shareholders of Chicago-based FMC Corp. (NYSE, FMC) will receive 1.7197 shares of FMC Technologies (NYSE, FTI) in a tax-free distribution. FMC Corp.’s stock price will be reduced from $59.50 to $31.21, based on the closing prices of Dec. 31.
* RailAmerica Inc., a Boca Raton, Fla.-based freight hauler with 11,000 miles of track, is moving to the NYSE from the Nasdaq Stock Market. The ticker will change from RAIL to RRA and the stock abbreviation will remain RailAm.
* Gentner Communications Corp. (Nasdaq, GTNR) will change its name to ClearOne Communications Inc., though it will keep the same trading symbol. The Salt Lake City-based telecommunications company thinks the new name will more effectively put across the company’s focus on conferencing. Its abbreviation will be ClearOne.
* Tekgraf Inc. (Nasdaq, TKGF), a Vernon Hills, Ill., distributor of wide-format printers and scanners for presentations, is changing its name to Centiv Inc. (Nasdaq, CNTV). Stock tables will use Centiv.
* Citadel Holding Corp. (AMEX, CDL) a Los Angeles-based entertainment concern with holdings in California citrus farms, is changing its name to Reading International Inc. (AMEX, RDI). The abbreviated names will be ReadgIntA and ReadgIntB for its two classes of common stock.