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Discovery Communications To Join S&P 500

DOW JONES NEWSWIRES Standard & Poor's said Tuesday it will add Discovery Communications Inc. (DISCA) to its S&P 500 index to replace Pepsi Bottling Group Inc. (PBG), which is set to be acquired by PepsiCo. Inc. (PEP). The parent of the Discovery family of channels, which includes the Discovery Channel, TLC and Animal Planet, will be added to the S&P 500 Broadcasting Sub-Industry index. Bally Technologies Inc. (BYI), a maker of gambling devices and technologies, will replace PepsiAmericas Inc. (PAS) in the S&P MidCap 400 index. PepsiAmericas is also set to be acquired by PepsiCo in a separate deal that is expected to be completed soon. The date of the changes weren't announced. Discovery's shares were up 8.2% to $31.30 in after-hours trading, while Bally's rose 1.7% to $40.90. The shares of companies joining the S&P 500 often rise because many portfolio managers try to track the index and must buy shares of the companies that become part of it. -By John Kell, Dow Jones Newswires; 212-416-2480; john.kell@dowjones.com

Stock News for Pespi (PBG)
DateTimeHeadline
02/26/201011:58:38FTC Puts Conditions On Pepsi's Buy Of Bottlers And Distributors
02/16/201018:33:15Discovery Communications To Join S&P 500
02/02/201008:07:28Pepsi Bottling Post 4Q Profit After 2008 Write-Down
12/08/200916:51:07Pepsi Enters $900 Million Deal With Dr Pepper, Tempers 2009 View
11/17/200909:42:11WSJ CEO COUNCIL: Pepsi Bottling To Expand Sales Team In 2010

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