Advanced Micro Devices (AMD) Set to Join S&P 500; Valeant Pharmaceuticals Intl (VRX) Takes Upward Bounce
Standard & Poor’s on Friday increased the minimum market values required for inclusion in three broad U.S. stock indexes.
Effective immediately, S&P Dow Jones Indices said companies need market values of $6.1 billion or more to be included in the S&P 500 (previously required at least $5.3 billion). It also set ranges of $1.6 billion to $6.8 billion for inclusion in the S&P MidCap 400 (previous range was between $1.4 billion and $5.9 billion), and $450 million to $2.1 billion to be eligible for the S&P SmallCap 600 (previous range was from $400 million to $1.8 billion).
Advanced Micro Devices, Inc. (Nasdaq:AMD) will replace specialty retail company Urban Outfitters Inc. (Nasdaq:URBN) in the S&P 500 Index prior to the open on Monday, March 20. The semiconductor company will be added to the S&P 500 GICS (Global Industry Classification Standard) Semiconductors Sub-Industry index.
AMD stock closed at $13.91, up $0.58 (or +4.35%) and 65.14M of its shares changed hands on Friday’s trading session.
Advanced Micro Devices, which operates as a semiconductor company worldwide, has 941.40M shares outstanding, market capitalization (intraday) of $13.09B and AMD stock 52-week range is between $2.29 and $15.55 per share.
Valeant Pharmaceuticals International, Inc. (NYSE:VRX) stock surged 5.79% (or +$0.67) to $12.24 with a total volume of 20.87M shares traded on Friday.
After the closing bell, the Canadian pharmaceutical and medical device company said that it has received lender consent for refinancing and amendment of its existing credit agreement.
Valeant Pharmaceuticals International, which develops, manufactures, and markets pharmaceuticals, OTC products, and medical devices worldwide, has 341.19M shares outstanding, market capitalization (intraday) of $4.26B and VRX stock one-year range is from $11.36 to $70.43 per share.
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