Washington Post Co.
rose 3.2% Thursday after the newspaper and education company was tapped to join the
Previously, Washington Post was one of the largest companies on the S&P MidCap 400, with a market cap of about $7.6 billion. It will replace
on the big-cap index after the market's close Dec. 28.
Stocks of companies that are added to the S&P 500 typically rise because they become eligible to be added to mutual fund portfolios that are restricted to the index.
Separately, the company said the daily newsstand price of
The Washington Post
will increase to 50 cents from 35 cents on Dec. 31 in the D.C. metropolitan area.
The last time the publisher raised the newsstand price of its flagship paper was in 2001, when it was lifted from 25 cents.
The Sunday newsstand price of $1.50 and the home delivery price of 35 cents per day remains unchanged.
Shares of Washington Post were recently up $24.95 to $795.17.