Standard & Poor’s adding five companies to S&P 500 index


Standard & Poor’s will add Mead Johnson Nutrition Co, Visa Inc, Ross Stores Inc, Cliffs Natural Resources Inc and SAIC Inc, to the S&P 500 index. S&P said Friday it is making the changes effective after the close of trading December 18 because several companies currently in the index are no longer representative of the market indicator.
Infant formula maker Mead Johnson, which is splitting from Bristol-Myers Squibb Co will replace insurer and investment management company MBIA Corp. It said MBIA is ranked last in the S&P 500 and is no longer representative of the indicator’s market capitalisation range. Payments processor Visa will replace telecommunications and network equipment company Ciena Corp.

Copyright Associated Press, 2009

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