Goldman Sachs Unveils Long Stock List for ’00
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Decisions, decisions.
Goldman Sachs may not have been the first brokerage to unveil its top stock picks for the year, but its list of 89 selections for 2000, announced Tuesday, appears to be one of the longest.
The list, which Goldman notes “is not intended to be used in its entirety,” includes names from a variety of sectors, such as Anadarko Petroleum (ticker symbol: APC; close and change: $32.75, down 6 cents), utility Edison International (EIX; $25.31, up 25 cents), Ford Motor (F; $50.63, down $1.75), IBM (IBM; $112.06, down $3.94), Philip Morris (MO; $23.63, up 19 cents), Polo Ralph Lauren (RL; $16.75, down 69 cents), Starbucks (SBUX; $23.88, down 75 cents) and online grocer Webvan Group (WBVN; $17, down $1.25).
Goldman’s list of 79 stocks for 1999 gained 41% on average, or more than twice the return of the Standard & Poor’s 500 index.
But Tuesday’s broad sell-off took down many of the names on its new list. One selection, Parametric Technology (PMTC), got whacked by 20% when the software designer warned of a profit shortfall, dropping $5.13 to close at $20 on Nasdaq.
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