Dollar General to Join S&P 500

by Christopher Freeburn | November 27, 2012 10:35 am

dollar general 630 300x225 Dollar General to Join S&P 500[1]After the end of trading on Friday, Dollar General (NYSE:DG[2]) will become part of the[3] S&P 500. The discount retail chain will replace Cooper Industries (NYSE:CBE[4]) on the market index, the Associated Press noted.

Dollar General operates more than 10,000 stores nationwide.  In September, it reported second-quarter earnings that beat Wall Street expectations[5], on revenue that rose more than 10% compared to the prior year.

The chain competes with other similarly-named discount chains, including Dollar Tree (NASDAQ:DLTR[6]) and Family Dollar (NYSE:FDO[7]), as well as larger discount retailers including Target (NYSE:TGT[8]) and Wal-Mart (NYSE:WMT[9]).

Cooper Industries is being acquired by Eaton Corp. (NYSE:ETN[10]) and will re-incorporate in Ireland as Eaton Global Corp[11]. PLC.

Shares of Dollar General rose about 1% in Tuesday morning trading.

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2011/08/dollar_general_630.jpg
  2. DG: http://studio-5.financialcontent.com/investplace/quote?Symbol=DG
  3. will become part of the: http://www.businessweek.com/ap/2012-11-26/dollar-general-joins-standard-and-poors-500-index
  4. CBE: http://studio-5.financialcontent.com/investplace/quote?Symbol=CBE
  5. that beat Wall Street expectations: http://investorplace.com/2012/09/dollar-general-tops-forecast-raises-outlook/
  6. DLTR: http://studio-5.financialcontent.com/investplace/quote?Symbol=DLTR
  7. FDO: http://studio-5.financialcontent.com/investplace/quote?Symbol=FDO
  8. TGT: http://studio-5.financialcontent.com/investplace/quote?Symbol=TGT
  9. WMT: http://studio-5.financialcontent.com/investplace/quote?Symbol=WMT
  10. ETN: http://studio-5.financialcontent.com/investplace/quote?Symbol=ETN
  11. re-incorporate in Ireland as Eaton Global Corp: http://investorplace.com/2012/05/eaton-buys-cooper-industries-for-11-8-billion/

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