Polo Ralph Lauren Joins S&P 500

Innovation Update

TSC Staff

01/31/07 - 06:40 PM EST

Shares of Polo Ralph Lauren(RL Quote) will replace those of Comverse Tech(CMVT Quote) in the S&P 500 index after the market close on Thursday.

Comverse was removed from the S&P 500 on Wednesday, pursuant to its delisting by Nasdaq before Thursday's market open, S&P said.

Shares of Polo Ralph Lauren rose 3.2% in after-hours trading Wednesday to $84.65; index funds would be expected to acquire shares Thursday to match the S&P 500 components.

Visit TheStreet for more great features

TheStreet Premium Services

From the action-oriented investing ideas of Action Alerts PLUS by Jim Cramer to the expert technical trading strategies of Helene Meisler's Top Stocks, TheStreet.com offers a range of premium services to help boost your portfolio's performance. View now.

Expert Advisors Alerts Delivered to your Inbox

Action Alerts PLUS: Cramer's personal portfolio, emails before he acts.

RealMoney: 70+ experts share their top investing ideas and analysis.

Stocks Under $10: Alerts identify undervalued stocks with profit potential.

FREE NEWSLETTERS

Get an edge on the market with the help of free email newsletters like Jim Cramer's Daily Booyah!. Learn about the day's major market events, companies that sizzled or fizzled and lots more that can help you make more profitable investing decisions. Sign up.