CEG Constellation Energy Grp. Common Stock

   DOW JONES NEWSWIRES 
 

Standard & Poor's Wednesday said it will add telecommunications company Crown Castle International Corp. (CCI) to its S&P 500 index, replacing Constellation Energy Group Inc. (CEG) after Exelon Corp. (EXC) completes its expected merger with the utility company.

Crown Castle shares rose 3.8% to $54.61 after-hours. 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 the index. Shares of Constellation and Exelon were also up slightly after hours.

Crown Castle has posted steady top-line growth in recent quarters as cell-tower companies benefit from higher amounts of data that have forced wireless carriers to spend more to upgrade their equipment.

-By Drew FitzGerald, Dow Jones Newswires; 212-416-2909; andrew.fitzgerald@dowjones.com