S&P To Make Substitution In SmallCap 600 Index
NEW YORK (AP) ¿ Standard & Poor's said Tuesday that Comfort Systems USA Inc. will replace Charlotte Russe Holding Inc. in its S&P SmallCap 600 index after the close of trading Sept. 29.
Advent CR Holdings is planning to acquire Charlotte Russe in a deal expected to close on or about that date.
Houston-based Comfort Systems provides heating, ventilation and air conditioning installation, maintenance, repair and replacement services. It will be added to the S&P SmallCap 600 GICS (Global Industry Classification Standard) Construction & Engineering Sub-Industry index.
Its shares slipped 17 cents, or 1.4 percent, to close at $11.63 on Tuesday before the S&P announcement. In after-hours trading, they gained 96 cents, or 8.3 percent, to $12.59.Stocks often rise after they are added to major indexes as they are bought by managers of investment funds that mirror the indexes. Charlotte Russe shares gained a penny to close at $17.47.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV