UA, BEAM: Under Armour to Replace Beam in S&P 500
by Christopher Freeburn | April 25, 2014 9:23 am
On Thursday, S&P Dow Jones Indices announced a change to its S&P 500 index[1].
[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:
- CAT: Caterpillar Stock Jumps on Forecast, Profits[10]
- SVU: SuperValu Stock Soars on Earnings Beat[11]
- PG: Procter & Gamble Stock Ticks Lower on Revenue Miss[12]
Endnotes:
- announced a change to its S&P 500 index: http://stream.wsj.com/story/markets/SS-2-5/SS-2-515910/
- [Image]: https://investorplace.com/wp-content/uploads/2011/07/under_armour_logo_closeup_flickr_6301.jpg
- UA: http://studio-5.financialcontent.com/investplace/quote?Symbol=UA
- BEAM: http://studio-5.financialcontent.com/investplace/quote?Symbol=BEAM
- due to its merger with Japan’s Suntory Holdings Ltd: https://investorplace.com/2014/01/beam-japans-suntory-buy-jim-beam-parent-16b-deal/#.U1pfbF5hOf0
- NAVIV: http://studio-5.financialcontent.com/investplace/quote?Symbol=NAVIV
- SLM: http://studio-5.financialcontent.com/investplace/quote?Symbol=SLM
- POL: http://studio-5.financialcontent.com/investplace/quote?Symbol=POL
- issued full-year revenue guidance that some analysts found too conservative: https://investorplace.com/2014/04/ua-armour-stock-trades-lower-cautious-earnings-comments/#.U1pgBV5hOf0
- CAT: Caterpillar Stock Jumps on Forecast, Profits: https://investorplace.com/2014/04/cat-caterpillar-stock-jumps-forecast-profits/#.U1kaAV5hOf1
- SVU: SuperValu Stock Soars on Earnings Beat: https://investorplace.com/2014/04/svu-supervalu-stock-soars-earnings-beat/#.U1kQf15hOf1
- PG: Procter & Gamble Stock Ticks Lower on Revenue Miss: https://investorplace.com/2014/04/pg-procter-gamble-stock-ticks-lower-revenue-miss/#.U1fLGl5hOf1
Source URL: https://investorplace.com/2014/04/ua-beam-armour-replace-beam-sp-500/