Cisco Systems (CSCO) Declares $0.33 Quarterly Dividend; 2.8% Yield
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What sector overhaul means for tech stocks, Wall Street
September 19, 2018 2:31 PM EDT(This September 19 story corrects paragraph five and six to clarify that only one FANG stock will remain in its current sector)
By Alden Bentley
NEW YORK (Reuters) - The most significant changes to Wall Street's broad industry sectors since 1999 will take effect Monday, reclassifying many of the hot growth companies that have been nearly synonymous with the "tech" rally that has fueled the stock bull market.
While any immediate market impact will be hard to gauge, investors are preparing for volatility in stocks being moved from one industry to another when some investors readjust portfolios.
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