Pacific Northwest ...
Amazon.com will replace AT&T in the Standard & Poor’s 500 index Friday.
The inclusion of Amazon, the world’s largest online retailer, “allows the S&P to be reflective of the renewed interest in Internet commerce,” said Leo Guzman, who heads Guzman & Co., a Florida-based brokerage.
AT&T, the biggest U.S. long-distance phone carrier, is being bought by SBC Communications.
The news about Amazon, announced after the close of regular trading Monday, pushed the company’s shares up $2.69, or 6.3 percent, to $45.22 in after-hours trading.
The inclusion may help the stock reverse a 4 percent drop so far in 2005. Fund managers that mimic the S&P 500 exactly must purchase the stock, and investors who use the index as a benchmark may also buy it.
German airline to buy 40 planes
DBA, Germany’s third-largest airline, plans to buy as many as 40 Boeing 737s valued at about $2.4 billion.
The 737-700 and 737-800 planes would be delivered between 2008 and 2010, DBA said in a statement Monday. DBA will probably place the order for the planes, which includes options, later this year or early in 2006, said Mike Tull, a Boeing spokesman.
Air Force must buy C-17s, group says
The Air Force must keep the option to buy more than 180 Boeing C-17 transports because that may not be enough if the U.S. military were to face missions similar to those at the start of the Iraq war, the Pentagon’s independent advisory group says.
Boeing’s Long Beach, Calif., production line can’t be allowed to close when the current production expires in 2008, the Defense Science Board says in a new report.
Lawmakers have pressed the Air Force to buy more C-17s. The Senate voted 89-8 to authorize that last week in an amendment to the fiscal 2006 defense-authorization bill. The House version of the bill doesn’t contain this provision so it’s a subject for negotiation when the two chambers seek a compromise.
Portland branch office opens
McAdams Wright Ragen opened a branch in Portland last week. The Seattle-based broker-dealer and investment adviser, which was launched in 1999, has grown from seven to almost 70 employees with offices in Bellevue, Seattle and Portland. President and CEO Scott McAdams said the firm hopes to expand into more urban Northwest markets.
Compiled from Bloomberg News and Seattle Times staff