Sears Gets Boot From S&P 500

by Angela Nazworth | August 30, 2012 2:54 pm

First under the name Sears, Roebuck & Co., Sears Holdings (NASDAQ:SHLD[1]) – has been a member of the S&P 500 since the index debuted in 1957. However, after the bell rings on September 4, the retailer will be booted from the S&P and replaced by chemical maker LyondellBasell (NYSE:LYB[2]), CNBC reports[3].

Ironically, Sears has performed well in the S&P 500 this year. But the past few years have been tough on the icon[4], which is one of America’s oldest retailers.

Amid the news, SHLD shares have plummeted more than 7.5% during afternoon trading Thursday.

Endnotes:

SHLD: http://studio-5.financialcontent.com/investplace/quote?Symbol=SHLD
LYB: http://studio-5.financialcontent.com/investplace/quote?Symbol=LYB
CNBC reports: http://www.cnbc.com//id/48837205
tough on the icon: http://investorplace.com/2012/08/sears-shares-rise-on-lower-q2-loss/

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