NEW YORK (AP) - Standard & Poor's said Monday it plans to implement changes
to the S&P 500, S&P MidCap 400 and S&P REIT Composite indices after the close of
trading Friday.
S&P MidCap 400 constituent Noble Energy Inc., a producer of crude oil and
natural gas, will replace Archstone-Smith Trust in the S&P 500. Englewood,
Colo.-based Archstone-Smith, a REIT, is being acquired by Tishman Speyer
affiliates and Lehman Brothers Holdings Inc.
Houston-based Noble Energy's stock rose $1.50, or 2.1 percent, to $72.99 in
after-hours trading. The stock had closed the session up $1.45, or 2.1 percent,
at $71.49.
Outdoor advertising services provider Lamar Advertising Co. will replace
Noble Energy in the S&P MidCap 400, and Ashford Hospitality Trust Inc., a real
estate investment trust that invests in the hospitality industry, will replace
Archstone-Smith in the S&P REIT Composite.
Baton Rouge, La.-based Lamar's stock rose 78 cents to $49.50 in after hours,
while Dallas-based Ashford fell 26 cents, or 2.5 percent, to $10.05.
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