S&P Dow Jones has announced that it will replace oil and gas company Sunoco Inc. (NYSE: SUN) on the S&P 500 Index with specialty retailer PetSmart Inc. (NASDAQ: PETM) after the close of trading on October 4. Sunoco is being acquired by Energy Transfer Partners L.P. (NYSE: ETP), and the acquisition is expected to close at about the same time.
PetSmart, currently included in the S&P Midcap 400 index, will be replaced on that list by Cabela’s Inc. (NYSE: CAB), a specialty retailer of hunting and outdoor goods. PetSmart’s market cap is about $7.3 billion, while Cabela’s is about $3.8 billion.
The final change to the S&P Dow Jones indexes moves Acorda Therapeutics Inc. (NASDAQ: ACOR) into the S&P Smallcap 600 Index, replacing Cabela’s. Acorda is a commercial stage biopharmaceutical firm and its market cap is about $1 billion.
Shares of PetSmart are up 3% in premarket trading this morning at $69.60 in a 52-week range of $39.53 to $72.75.
Cabela’s shares are up about 0.8% at $55.41 in a 52-week range of $19.12 to $55.65.
Acorda’s shares are inactive in the premarket, having closed at $25.55 last night, in a 52-week range of $18.36 to $27.74.
Paul Ausick
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
