Precision Castparts Joins S&P 500

Standard & Poor's said Precision Castparts (PCP Quote) will replace MedImmune (MEDI Quote) in the S&P 500 after the close of trading.

The change is being made because MedImmune is about to be acquired by AstraZeneca (AZN Quote). S&P 500 constituent Apple (AAPL Quote) will take MedImmune's place in the S&P 100.

Precision Castparts, a maker of components for industrial turbines and aerospace applications, was part of the S&P MidCap 400. Taking its slot in that index is Endo Pharmaceuticals (ENDP Quote).