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AMZN added to SP500
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. |
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