Bank of NY Mellon, General Growth to join S&P 500

(Reuters) - The company will replace Bank of New York in the S&P 500,
and replace Computer Sciences Corp. in the S&P 100
index of big blue-chip companies. General Growth, a
Chicago-based real estate investment trust, will replace Mellon
in the S&P 500.




Shares of companies joining the S&P 500 often rise because
many portfolio managers track the index and must buy shares of
companies that enter it. General Growth shares closed Monday
down $1.18 at $51.57, but rose to $53.45 in after-hours
electronic trading following the S&P announcement.


Read more at Reuters.com Mergers News