By John Kell
S&P Dow Jones Indices said Friday it will add Keurig Green
Mountain Inc. (GMCR) to its S&P 500 index, one of a handful of
index changes announced Friday.
Keurig Green Mountain will be added to the S&P 500 on March
21, switching places with oil and gas producer WPX Energy Inc.
(WPX), which is being moved to the S&P Midcap 400 index.
S&P is a part of McGraw Hill Financial (MHFI).
In a separate move also announced Friday, biotechnology company
Biogen Idec Inc. (BIIB) is being added to the S&P 100,
replacing utility provider American Electric Power Co. (AEP).
S&P said Biogen Idec has a market capitalization of more than
$80 billion and is more representative of the S&P 100
index.
Shares of Keurig Green Mountain rose 2.2% to $115.70 in
after-hours trading Friday. The shares of companies joining the
S&P 500 often rise because many portfolio managers try to track
the index and thus move to buy shares of companies that become part
of it.
Write to John Kell at john.kell@wsj.com
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