WorldCom, US Airways Booted From S&P 500 - TheStreet

Standard & Poor's is removing two beleaguered companies,

WorldCom

(WCOM)

and

US Airways

(U) - Get Report

, from the S&P 500.

WorldCom has been slumping for months as investors fret over the company's viability amid its massive debt load and lowered financial targets. Shares of WorldCom closed Monday at $1.44, a 52-week low, and have been steadily plunging throughout 2002.

US Airways, which last week raised the possibility of filing for bankruptcy if it can't otherwise successfully restructure its operations, ended regular trading at $2.98, also a new low for the last year.

S&P is removing both stocks for what it commonly calls "lack of representation."

Apollo Group

(APOL)

, a provider of education programs for adults, and

BJ Services

(BJS)

, which offers services to the petroleum industry, will replace WorldCom and US Airways in the S&P 500.

The changes will be effective after the close of trading Tuesday.