Ingersoll-Rand To Join S&P 500 Index, Replaces Pactiv
10 Novembro 2010 - 9:27PM
Dow Jones News
DOW JONES NEWSWIRES
Standard & Poor's said it will add diversified manufacturer
Ingersoll-Rand Co. (IR) to its S&P 500 index after the close of
trading on Nov. 16 to replace Pactiv Corp. (PTV), which is set to
be acquired by New Zealand's Rank Group Ltd.
Ingersoll-Rand will be added to the S&P 500 Industrial
Machinery Sub-Industry index.
Ingersoll-Rand last month reported its third-quarter profit rose
7% despite increased charges, while revenue improved in most of its
businesses.
Shares jumped 5.7% to $43.50 in after-hours trading. The shares
of companies joining the S&P 500 often rise because many
portfolio managers try to track the index. To do that, they must
buy shares of the companies that become part of it.
-By John Kell, Dow Jones Newswires; 212-416-2480;
john.kell@dowjones.com
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