Polo Ralph Lauren Joins S&P 500

Shares of Polo Ralph Lauren(RL Quote - Cramer on RL - Stock Picks) will replace those of Comverse Tech(CMVT Quote - Cramer on CMVT - Stock Picks) 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.