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Stocks in Motion: Index Additions

Several stocks moved after Standard & Poor's announced changes to its indices Tuesday night, including the addition of Whole Foods (WFMI), which will replace Visteon (VC) in the S&P 500. Whole Foods was recently up 5.3% to $79.45, reflecting demand anticipated when index-fund managers add the stock to their portfolio. Visteon, which was kicked out for having too low a market cap, lost 5.4% to $6.49.

Other movers included Affymetrix (AFFX), which will enter the S&P MidCap 400, and Blue Coat (BCSI), which will enter the S&P 600 along with Digitas (DTAS). Affymetrix was recently up 7.8% to $47.12, and Blue Coat rose 5.2% to $45.78.

Celgene (CELG) jumped after the Food and Drug Administration cleared its Revlimid to treat transfusion-dependent anemia. Initial shipments are expected to begin early next year. Celgene also split its stock 2-for-1 and said its CEO, John Jackson, will retire on June 1. The shares were recently up 4.7% to $60.19.

Shares of Linens N Things (LIN) took off after the company said it expects to meet two conditions of a private equity buyout and scheduled a shareholders' vote on the transaction. Linens N Things agreed last month to be acquired by Apollo Management for $28 a share. Before completing the deal, Apollo insisted that the company's fourth-quarter same-store sales decline be no more than 6%, and that the company produce earnings before interest, taxes, depreciation and amortization of $140 million this year. It expects to do both. In recent trading, Linens N Things rose 10.3% to $26.35.

Riviera Holdings (RIV) soared after a group of investors filed with the Securities and Exchange Commission to say they are cooperating on a possible $15-a-share bid for the Las Vegas hotel and casino operator. The group, which includes former Starwood (HOT - Get Report) chairman Barry Sternlicht, hired Bear Stearns as financial advisers. Shares of Riviera were up 14.3% to $16.50.

Calmine (CALM - Get Report) shot up after reporting a narrowed second-quarter loss and saying revenue rose 52% from a year ago. The Jackson, Miss., company said sales for the second quarter ended Nov. 26 rose to $138.3 million from $90.7 million last year. Cal-Maine lost $685,000, or 3 cents a share, compared with a loss of $5.3 million, or 23 cents a share, in the year-ago period. "Egg demand, sales volume, and egg prices started slow in the second quarter but finished on a very strong note, with robust sales and improved egg prices during the three weeks leading up to Thanksgiving," the company said in a press release. Shares of Cal-Maine were up 8.8% to $7.
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SUNW $2.71 1.50%
AFFX $14.01 0.14%
CALM $52.72 1.10%
RIV $19.15 0.21%
HOT $81.70 0.17%


Chart of I:DJI
DOW 17,706.91 +55.65 0.32%
S&P 500 2,056.95 +5.83 0.28%
NASDAQ 4,737.2170 +11.5780 0.24%

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