I guess this is one way to jumpstart your indexes ratings. Drop the fat and add better perfoming stocks at the time. This is very common with all indexes on the stock market.
S&P said Tuesday that it would drop the real estate investment security General Growth Properties Inc. from the S&P 500 index and replace it with Cephalon Inc.
General Growth, the second largest U.S. mall operator, warned Tuesday it may file for bankruptcy and its shares plummeted 64 percent in regular trading. I am glad that I have not invested in this stock. Even though it is hard to find a good one right now.
At the close it had a market value of $128 million, ranking 500th on the index.
Cephalon, which makes Provigil for patients with narcolepsy, meanwhile saw its shares rise to $72.43.
Replacing Cephalon on the S&P MidCap 400 index after Friday's close will be the oil and gas driller Mariner Energy Inc.
So where does General Growth go?
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment