Jam and jelly maker Smucker ( SJM) will replace construction-equipment builder Terex ( TEX) in the S&P 500 after the close of trading on Nov. 5, Standard & Poor's said Thursday.

Terex will then take Smucker's place in the S&P MidCap 400. The change is being made because Smucker is taking over Procter & Gamble's ( PG) Folgers coffee business in a transaction expected to close that day.

Shares of Smucker rose 4.7% to $45.50 in late trading. The stock fell 2.3% in the regular session. Terex lost 4%.
This article was written by a staff member of TheStreet.com.