UA, BEAM: Under Armour to Replace Beam in S&P 500

by Christopher Freeburn | April 25, 2014 9:23 am

UA, BEAM: Under Armour to Replace Beam in S&P 500

On Thursday, S&P Dow Jones Indices announced a change to its S&P 500 index[1].

under armour logo closeup flickr 6301 300x202 UA, BEAM: Under Armour to Replace Beam in S&P 500[2]According to S&P Dow Jones Indices, athletic apparel-maker Under Armour (UA[3]) will join the S&P 500 index, effective Apr. 30. UA will take the place of liquor-maker Beam (BEAM[4]) in the S&P 500 index, the Wall Street Journal notes.

BEAM is leaving the S&P 500 index due to its merger with Japan’s Suntory Holdings Ltd[5].

S&P Dow Jones Indices also said that Navient Corp. (NAVIV[6]) will will join the S&P 500, replacing SLM Corp. (SLM[7]) on the same date.

UA is currently a member of the S&P MidCap 400. It will be replaced on the S&P MidCap 400 by PolyOne Corp. (POL[8]) when UA joins the S&P 500 index.

On Thursday, UA stock tumbled after the company issued full-year revenue guidance that some analysts found too conservative[9] in the wake of strong first-quarter results.

Shares of Under Arnour rose more than 1% in Friday pre-market trading. UA stock closed at $50.42 per share on Thursday.

More Stocks in the News:

Endnotes:
  1. announced a change to its S&P 500 index: http://stream.wsj.com/story/markets/SS-2-5/SS-2-515910/
  2. [Image]: http://investorplace.com/wp-content/uploads/2011/07/under_armour_logo_closeup_flickr_6301.jpg
  3. UA: http://studio-5.financialcontent.com/investplace/quote?Symbol=UA
  4. BEAM: http://studio-5.financialcontent.com/investplace/quote?Symbol=BEAM
  5. due to its merger with Japan’s Suntory Holdings Ltd: http://investorplace.com/2014/01/beam-japans-suntory-buy-jim-beam-parent-16b-deal/#.U1pfbF5hOf0
  6. NAVIV: http://studio-5.financialcontent.com/investplace/quote?Symbol=NAVIV
  7. SLM: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLM
  8. POL: http://studio-5.financialcontent.com/investplace/quote?Symbol=POL
  9. issued full-year revenue guidance that some analysts found too conservative: http://investorplace.com/2014/04/ua-armour-stock-trades-lower-cautious-earnings-comments/#.U1pgBV5hOf0
  10. CAT: Caterpillar Stock Jumps on Forecast, Profits: http://investorplace.com/2014/04/cat-caterpillar-stock-jumps-forecast-profits/#.U1kaAV5hOf1
  11. SVU: SuperValu Stock Soars on Earnings Beat: http://investorplace.com/2014/04/svu-supervalu-stock-soars-earnings-beat/#.U1kQf15hOf1
  12. PG: Procter & Gamble Stock Ticks Lower on Revenue Miss: http://investorplace.com/2014/04/pg-procter-gamble-stock-ticks-lower-revenue-miss/#.U1fLGl5hOf1

Source URL: http://investorplace.com/2014/04/ua-beam-armour-replace-beam-sp-500/
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