Retailer Urban Outfitters To Join S&P 500
January 29 2010 - 6:15PM
Dow Jones News
Standard & Poor's said Friday it will add retailer Urban
Outfitters Inc. (URBN) to its S&P 500 index to replace
business-services provider Affiliated Computer Services Inc. (ACS),
which is set to be acquired by Xerox Corp. (XRX).
Urban Outfitters will be added to the S&P 500 Apparel Retail
Sub-Industry index.
As a result of Urban's move, Intrepid Potash Inc. (IPI) will be
added to the S&P MidCap 400 Fertilizers & Agricultural
Chemicals Sub-Industry index.
The date of the changes weren't announced.
Urban's shares were up 3.5% at $32.67 in after-hours trading,
while Intrepid's were up 4.9% at $25.70. The shares of companies
joining the S&P 500 often rise because many portfolio managers
try to track the index and must buy shares of the companies that
become part of it.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com
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