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S & P to make changes to S & P500, MidCap 400 indices

Fri, 01/29/2010 - 2:01pm
The Associated Press

Standard & Poor's said Friday it plans to move Urban Outfitters Inc. to the S&P500 index to replace Affiliated Computer Services Inc., which is being bought by Xerox Corp.

Xerox, based in Norwalk, Conn., is also a constituent of the S&P500.

Retailer Urban Outfitters, which is currently on the S&P's MidCap 400 index, would then be replaced by Intrepid Potash Inc., a fertilizer company based in Denver.

S&P said the moves would be made on a date yet to be announced.

Shares of Urban Outfitters, based in Philadelphia, rose 54 cents to $32.11 in after-hours trading Friday after closing up 3.4 percent at $31.57.

Intrepid Potash shares rose 85 cents, or 3.5 percent, to $25.34 in after-hours trading after closing the regular session down 3.7 percent at $24.49.

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