AvalonBay to Join S&P 500

01/03/07 - 07:13 PM EST

TSC Staff

AvalonBay Communities(AVB Quote) will replace Symbol Tech(SBL Quote) in the S&P 500 Index on a date to be announced.

S&P announced that Symbol is being acquired by Motorola(MOT Quote) in a deal still pending final approval.

Shares of AvalonBay rose $2.89, or 2.2%, to $131.64 in after-hours trading.

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