Accenture Tabbed to Join S&P 500
NEW YORK (TheStreet) -- Accenture plc (ACN) is being added to the S&P 500, replacing Marshall & Ilsley (MI) at the close of trading on July 5.
Standard & Poor's announced the change after Monday's closing bell, saying the change will follow Marshall & Ilsley's acquisition by Bank of Montreal (BMO) on or around that date.
Shares of Accenture, an Irish provider of management consulting and technology services, closed Monday at $57.79, up nearly 18% so far in 2011 and 40% over the past year.
The ratings agency also disclosed a number of other changes to its indexes, saying Amerigroup (AGP) will join the S&P Midcap 400 on July 1, replacing Nationwide Health Properties (NHP), which is being acquired by Ventas> (VTR).
Northwest Bancshares (NWBI) will replace Amerigroup in the S&P Smallcap 600 on the same date. Also joining the S&P Smallcap 600 will be Lincoln Educational Services (LINC), which will replace Pre-Paid Legal Services (PPD) on June 30. Pre-Paid Legal is being acquired by MidOcean PPL Holdings Corp. Amerigroup is a managed healthcare company headquartered in Virginia Beach, Va. The stock closed Monday at $66.83, up more than 46% so far in 2011, although it's pulled back since hitting a 52-week high of $71.71 on May 19. --Written by Michael Baron in New York.>To contact the writer of this article, click here: Michael Baron. >To submit a news tip, send an email to: tips@thestreet.com
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