Tracking stocks are quickly becoming the latest fashion for companies seeking to highlight the fast-growing, high-tech segments of their companies which they think investors have overlooked. Within the last six months alone, AT&T Corp., Perkin-Elmer Corp., Ziff-Davis Inc. and Donaldson, Lufkin & Jenrette Inc. have issued tracking stocks. Within the past three months, CBS Inc., J.C. Penney Co. Inc., Microsoft Corp., Walt Disney Co. and Wal-Mart Stores Inc. have publicly considered floating tracking stocks for their Internet divisions. Moreover, recent events in Congress and the courts will only add to corporate America’s excitement for this little-known security.
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