NEW YORK (AP) — Standard & Poor's said Thursday it has added insurer MetLife Inc. to the S&P 100, replacing health care products company Covidien Ltd., which will be ineligible for the index after it redomesticates to Ireland.
In addition, Houston-based FMC Technologies Inc., which provides technology services to the energy industry, will replace Covidien in the S&P 500 index. Shares of companies added to the S&P 500 often rise, since many investment portfolios are linked to the index.
At the same time, Columbia, Md.-based software provider Micros Systems Inc. will replace FMC in the S&P MidCap 400 and North Hollywood, Calif.-based physician group IPC The Hospitalist Company Inc. will replace Micros in the S&P SmallCap 600. ...
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