BOON FOR MUTUAL FUNDS; MANY HOLD ENERGY STOCKS.Byline: Tim Quinson Bloomberg News Exxon Corp.'s decision to buy Mobil Corp. for a record-breaking $77 billion is a potential boon Boon A general term that refers to a benefit or improvement for investors. This can include such things as increased dividends, a stock market rally and stock buybacks. Notes: for more than 570 mutual funds that own shares of the oil companies. Exxon and Mobil are owned by the biggest U.S. funds, namely Fidelity Magellan and Vanguard Vanguard Any of three unmanned U.S. experimental satellites. Vanguard I (1958), the second U.S. satellite placed in orbit around Earth (after Explorer 1), was a tiny 3.25-lb (1.47-kg) sphere with two radio transmitters. Index 500, and also some smaller ones, including Lexington Corporate Leaders. Funds such as Lexington Corporate Leaders and T. Rowe Price T. Rowe Price (NASDAQ: TROW) is an independent global investment management firm and mutual fund manager based in Baltimore, Maryland. It was founded in 1937 by Thomas Rowe Price, Jr.. T. New Era are more affected by the transaction than most since the two funds recently devoted more than 5 percent of their assets to Mobil, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. researchers at Morningstar Inc. Neither Exxon nor Mobil rank among the most widely held stocks of mutual fund managers. The most widely held was recently Intel Corp., followed by Philip Morris Cos., General Electric Co., Merck & Co. and Microsoft Corp., according to Morningstar. Energy-related stocks have performed poorly this year with crude prices hovering hov·er intr.v. hov·ered, hov·er·ing, hov·ers 1. To remain floating, suspended, or fluttering in the air: gulls hovering over the waves. 2. at the lowest in almost 12 years, and earnings have plummeted as a result. ``Most funds that have a lot invested in energy stocks have had a tough year, and they can take any good news they can get,'' Morningstar's Russel Kinnel said. |
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