Friday, March 02, 2001

What's the Buzz?


Cintas rebounds, up $1.11 per share

        Shares of Cintas Corp., the uniform supplier, regained some ground Thursday, closing up $1.11, or 3 percent, at $37.12 1/2, a day after being added to the Standard & Poor's 500 Index.

        Because the S&P 500 is tracked by many investment-fund managers, changes to the index are often followed by heavy trading in the companies affected, as fund holdings are changed to match the index.

        More than 6.7 million shares of Cintas traded Thursday. That's on top of more than 44 million shares Wednesday, the day Cintas was added to the S&P 500.

        Cintas replaced Summit Bancorp, which was acquired by FleetBoston Financial Corp. Cintas' place on the S&P MidCap 400 index was taken by Newport Corp.

        Shares of Cintas, which cautioned Tuesday earnings for the year ending May 31 will be lower than expected because of the slowing economy, plunged $6.73 Wednesday, closing at $36.02.
       

— Mike Boyer

        Have a tip about a Tristate company that should be included in our Buzz? Call 768-8147 or e-mail business@enquirer.com.
       

       



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