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Abbott Labs spinoff AbbVie to join S&P indexes

NEW YORK (AP) -- AbbVie Inc., a drugmaker being spun off from Abbott Laboratories, will join the S&P 100 and S&P 500 indexes, Standard and Poor's said Thursday.

AbbVie will replace computer maker Dell Inc. in the S&P 100 and asset manager Federated Investors Inc. in the S&P 500.

Standard and Poor's said Federated will move to the MidCap 400 index, replacing ITT Educational Services, which is moving to the SmallCap 600 index, replacing NCI Corp., which is being dropped from the index.

Additionally Procera Networks Inc. will replace Presidential Life Corp. in the SmallCap 600. Presidential Life is in the process of being bought by Athene Holding Ltd.