AvalonBay to Join S&P 500

It will replace Symbol Tech.
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AvalonBay Communities (AVB) - Get Report will replace Symbol Tech (SBL) in the S&P 500 Index on a date to be announced.

S&P announced that Symbol is being acquired by

Motorola

(MOT)

in a deal still pending final approval.

Shares of AvalonBay rose $2.89, or 2.2%, to $131.64 in after-hours trading.