Delta Air Lines will be added to S&P 500
S&P says Delta Air Lines will replace BMC Software on S&P 500 index
NEW YORK (AP) -- Delta Air Lines Inc. will be added to the S&P 500 index after an investor group including Bain Capital LLC completes its acquisition of BMC Software, Standard & Poor's said Friday.
The airline will replace software company on the index after the close of trading on Tuesday, when the BMC sale is expected to be completed.
Shares of Delta were up 89 cents, or 4.5 percent, to $20.78 in extended trading following the announcement. Stocks often get a boost when added to major indexes because investment funds that mirror the indexes must buy the recently added stocks.
