S&P To Add Lam To S&P 500 Index After Novellus Acquisition

Date : 05/10/2012 @ 6:27PM
Source : Dow Jones News
Stock : Royal Gold, Inc. (MM) (RGLD)
Quote : 69.1219  -1.1781 (-1.68%) @ 10:35AM

S&P To Add Lam To S&P 500 Index After Novellus Acquisition

Lam Research Corp. (MM) (NASDAQ:LRCX)
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Standard & Poor's said it will add semiconductor equipment maker Lam Research Corp. (LRCX) to the S&P 500 index after it completes its acquisition of Novellus Systems Inc. (NVLS).

Lam's acquisition of Novellus, which is currently a member of the S&P 500, is expected to be completed soon, pending final approvals.

Royal Gold Inc. (RGLD) will replace Lam in the S&P MidCap 400 index after the close of trading on a date to be determined.

Tempur-Pedic International Inc. (TPX) will replace Thomas & Betts Corp. (TNB), which is being acquired by ABB Ltd. (ABB), in the S&P MidCap 400 index after the close of trading May 15.

Globe Specialty Metals Inc. (GSM) will replace Delphi Financial Group Inc. (DFG), which is being acquired by Tokio Marine Holdings Inc., in the S&P SmallCap 600 index after the close of trading on May 15.

Lam shares were up 1% to $40.88 after hours. The stock is up 9.3% so far this year.

-By Nathalie Tadena, Dow Jones Newswires; 212-416-3287; nathalie.tadena@dowjones.com




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