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Fortive CEO celebrates place on NYSE by ringing opening bell

Published 1:30 am Tuesday, July 12, 2016

By Herald Staff

Fortive CEO celebrates place on NYSE by ringing opening bell
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Fortive CEO celebrates place on NYSE by ringing opening bell
Executives and guests of Washington-based Fortive Corporation visit the New York Stock Exchange to celebrate their recent spin-off from Danaher Corporation. To mark the occasion President & CEO, Jim Lico, rang the opening bell. (Photo courtesy of NYSE)
Jim Lico (second from right), President & CEO, Fortive Corporation; and Stacey Cunningham, COO, NYSE. (Photo courtesy of NYSE)

Fortive president and CEO James Lico rang the opening bell of the New York Stock Exchange Tuesday morning to celebrate his company’s spin-off from the Danaher Corp.

Fortive is a collection of companies with $6.2 billion in revenues last year — big enough to earn a spot on Fortune 500’s annual list of largest U.S. corporations.

The company, which is making its headquarters in Everett at the Fluke Corp., separated from Danaher earlier this month and started trading on the New York Stock Exchange on July 5.

When it separated from Danaher, Fortive had a market capitalization of $16.75 billion. Market capitalization is the value of a company factoring the price of its shares compared with the total number of stocks.

That places it behind Paccar and ahead of Expedia, according to a Nasdaq listing. Others on the list include Microsoft, Amazon, Costco and Starbucks. It’s also the largest publicly traded company in the state outside of King County.

On Tuesday morning, Lico joined New York Stock Exchange Chief Operating Officer Stacey Cunningham and several others at the bell ringing ceremony.

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