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Coventry Tapped for S&P 500

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


got a lift Monday following word the company will join the

S&P 500

, replacing

May Department Stores


, which is being acquired by




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

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(ABT) - Get Abbott Laboratories Report

will replace May in the S&P 100.

Also, S&P SmallCap 600 constituent


(TKR) - Get Timken Company Report

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



will replace Timken in the SmallCap 600.

In addition,

Joy Global


will take

Storage Technology's

(STK) - Get Columbia Seligman Premium Technology Growth Fund Inc. Report

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