S&P 500: Sprint Is Out, Nielsen Is In

It will join the index after the close of trading on July 8

   

NYSE traders trading floor watch 630 flickr 300x200  S&P 500: Sprint Is Out, Nielsen Is InShares of Nielsen Holdings (NLSN) surged almost 3% in Tuesday morning trading after it was announced that the company will be added to the S&P 500 index.

Nielsen will replace Sprint (S), the nation’s third largest wireless carrier, which is about to complete its partial merger with a Japanese telecommunications giant Softbank. The consumer tracking firm will join the S&P 500 index after the end of trading on July 8, the Associated Press notes.

Sprint185  S&P 500: Sprint Is Out, Nielsen Is In
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Softbank announced its plans to purchase a 70% stake in Sprint last year. After the acquisition is finished, Sprint’s publicly traded shares will drop below the 50% criteria required for listing on the S&P 500.

Last year, Nielsen announced plans to acquire Arbitron Holdings for $1.26 billion. The company has also partnered with Twitter to increase its standing in social media.


Article printed from InvestorPlace Media, http://investorplace.com/2013/07/sp-500-sprint-is-out-nielsen-is-in/.

©2014 InvestorPlace Media, LLC

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