Sniper
11-15-2005, 08:32 AM
Shares of Amazon.com rose in after-hours trading Monday following an announcement that the stock would join the S&P 500 index.
Amazon will replace AT&T, which is soon to be acquired by SBC Communications.
Shares of Amazon recently rose 6.6% to $45.32 on Instinet.
Stocks joining major indices will often see a rise following such announcements as index-based funds look to swap into shares of the latest inductee.
Amazon will replace AT&T, which is soon to be acquired by SBC Communications.
Shares of Amazon recently rose 6.6% to $45.32 on Instinet.
Stocks joining major indices will often see a rise following such announcements as index-based funds look to swap into shares of the latest inductee.