Smucker to Join S&P 500
It will replace construction-equipment maker Terex.
Jam and jelly maker
Smucker
(SJM) - Get Report
will replace construction-equipment builder
Terex
(TEX) - Get Report
in the
S&P 500
after the close of trading on Nov. 5, Standard & Poor's said Thursday.
Terex will then take Smucker's place in the S&P MidCap 400. The change is being made because Smucker is taking over
Procter & Gamble's
(PG) - Get Report
Folgers coffee business in a transaction expected to close that day.
Shares of Smucker rose 4.7% to $45.50 in late trading. The stock fell 2.3% in the regular session. Terex lost 4%.
This article was written by a staff member of TheStreet.com.
