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CB Richard Ellis (CBG) will join the S&P 500 Index after the close of Thursday's market.

Standard & Poor's said in a press release late Wednesday that the stock would replace

BellSouth

(BLS)

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, which is about to be acquired by

AT&T

(T) - Get AT&T Inc. Report

.

Shares of CB Richard Ellis, which will likely rise in Thursday's session as index fund managers realign their holdings, were recently up $1.63, or 6.7%, to $25.86 in after-hours trading.