PHASE ONE of the "new look" in our stock market tables is introduced today on Page B8. You'll find the changes in the presentation of the New York Stock Exchange list and also in the Market at a Glance feature that always accompanies the NYSE listings.
These changes, as we told you on Jan. 16, are the result of many years of work by the Associated Press. Basically, it gives AP member papers control over the stock tables they print each day, enabling them to provide to their readers the material most helpful to them. The News, in effect, will be custom designing its own stock tables.
The News is one of the first newspapers in the country to introduce AP SelectStocks because we have been working closely with the AP as a test site in making the numerous final adjustments in this new system. The News also has been in the forefront of those urging the AP to originate SelectStocks, prodding it for several years to get the research and development under way.
Here are the changes you will note today in the New York Stock Exchange tables:
1 -- A bold dot () flags about a dozen companies of special interest to Western New York such as Computer Task Group, Niagara Mohawk and National Fuel.
2 -- The 20 most active issues are printed in bold type.
3 -- Any issue whose price rose or fell 5 percent or more is underlined.
The News will run daily about 1,800 of the issues traded on the New York Exchange, eliminating some issues that seldom trade, principally preferred stocks. Any reader who has an interest in an issue that is not listed is urged to inform us so that we can add that stock to our daily listing. It is something we now can do with SelectStocks. The Sunday News NYSE listings will include the entire weekly list.
The new Market at a Glance box contains all the information we have presented in the past and adds the following:
1 -- The 25 top gainers, the 25 top losers and the 25 most active issues from the combined NYSE, American Stock Exchange and NASDAQ.
2 -- The NASDAQ index is added to the ones carried in the past: Dow Jones, NYSE, Amex and Standard & Poor's.
3 -- An at-a-glance look at about 30 issues of special interest to area readers, mostly large local employers such as General Motors and Ford. The quick look at the Western New York-based issues is continuing in the Market at a Glance box.
4 -- A new chart that gives the Dow Jones numbers for a three-month period with a highlight box on the previous day's Dow.
The visual presentation of the various issues has been improved, with enlarged alphabetical dividers making it much easier for the eye to move to the particular stock or stocks you wish to locate.
During the next few weeks, the NASDAQ and Amex tables will be changed into the same informational format as the new NYSE table, and a new, easier-to-read Mutual Funds table also will be phased in.
In the future, we're looking toward converting to the new system the listings for foreign exchange, the bond market, futures, the Toronto market and dividends. There's no timetable for these changes since the Associated Press still has more development work to complete in these areas.
The extensive and complex work for this changeover could not have been carried out at The News without the expertise of Ed Cuddihy, deputy managing editor. He has been working with Bill Flynn, News business editor, Vince Cimato, editorial systems coordinator, and the technical people of AP for many months.