Coventry Tapped for S&P 500

The company will replace May after the close of trading today.
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Coventry Health Care

(CVH)

got a lift Monday following word the company will join the

S&P 500

, replacing

May Department Stores

(MAY)

, which is being acquired by

Federated

(FD)

.

Coventry, based in Bethesda, Md., operates as a managed health care company. Standard & Poor's will make the change after the close of trading.

Shares of Coventry were rising $2.90, or 3.9%, to $78.19.

Federated is already part of the S&P 500.

Abbott Laboratories

(ABT) - Get Report

will replace May in the S&P 100.

Also, S&P SmallCap 600 constituent

Timken

(TKR) - Get Report

will replace Coventry in the S&P MidCap 400, and

ASV

(ASVI)

will replace Timken in the SmallCap 600.

In addition,

Joy Global

(JOYG)

will take

Storage Technology's

(STK) - Get Report

place in the S&P MidCap 400 after the close of trading Wednesday.