The active giant, which is now bigger than Target on the stock market, is replacing Activision Blizzard Inc. in the high-profile stock index.
Athletica Inc. is moving into a new league on Wall Street Wednesday, when the active standout will be added to the S&P 500 stock index.
While the stock market game is the same as part of the index, the players can be different. That’s because many blue chip investors, including the big-time retirement funds, have charters that focus them on certain indexes or certain kinds of companies. Opening up the door ways to a new group of investors can give even a big company a big boost in its stock price — and investors were positioning on Monday to take advantage of that. The S&P 500, which is meant to track the market’s 500 leading companies, is one of the widely cited and closely followed indices.
Constituent stocks generally have market capitalizations of at least $3.5 billion, four consecutive quarters of earnings and have at least 50 percent of their stock floating on the public market, according to S&P Capital IQ. Most of the companies come from the worlds of finance, health care, consumer, industrials and energy.players already on the index, including Ralph Lauren Corp. , Tapestry Inc. and VF Corp. .
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