DOW JONES NEWSWIRES
Mattel Inc. (MAT) will move its U.S. stock listing to the Nasdaq
Global Select Market from the New York Stock Exchange.
The world's largest toy maker's move highlights the competition
among exchanges. Historically, the New York Stock Exchange has been
the most prestigious of the U.S. exchanges, but that perception has
eroded with the ascendance of the technology companies on
Nasdaq.
"We believe Nasdaq's global technology leadership and vast
product offerings provide Mattel and our shareholders with
increased value," said Dianne Douglas, senior vice president of
Investor Relations for Mattel.
Mattel's stock will continue to trade under its current ticker
symbol. The move is planned for Sept. 28.
Shares were even in after-hours trading, after closing up 10
cents at $18.30. The stock is up 14% this year.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com