Sears Switching from NYSE to Nasdaq
Sears plans to jump from the New York Stock Exchange (NYSE) to Nasdaq, and will give up the one-letter ticker symbol, S, which the firm has had since 1910.Sears will move to Nasdaq once it completes its merger with Kmart in March, joining high-tech firms like Intel and Microsoft. One-letter ticker symbols are used on the NYSE, but the Nasdaq requires four-letter tickers. There was a cachet to having a one-letter symbol, but lately quite a few firms have given them up. Thanks to acquisitions currently in the works (Procter and Gamble buying Gillette while SBC Communications buys AT&T), the tickers G and T could be unattached. US Airways had the U before filing for bankruptcy protection in 2002. Now its UAIRQ. Chrysler had C, but gave it up in 1998 when it merged with Daimler-Benz to form DaimlerChrysler.
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