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S&P Add Sweet for Celgene

Word that Standard & Poor's will add Celgene (CELG - Get Report) to its S&P 500 index was lifting the biotech company's stock Tuesday.

Lately, Celgene was up 6% to $52.80. Shares of companies added to the S&P 500 often rise because fund managers who track the index have to own the stock.

Celgene is set to replace AmSouth Bancorp (ASO), which is being acquired by Regions Financial (RF - Get Report) in a deal expected to close by Nov. 6.

Regions, in turn, will supplant RadioShack (RSH) in the S&P 100, Standard & Poor's said Monday.

RadioShack, with a market capitalization of about $2.4 billion, ranked 100th in the S&P 100 as of the previous close of trading. The moves will occur after the close of trading Nov. 3.

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SYM TRADE IT LAST %CHG
CELG $99.59 -3.46%
RSH $0.31 12.76%
RF $7.08 -5.73%
AAPL $93.70 -0.60%
FB $101.91 0.90%

Markets

Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

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