PetSmart to Replace Sunoco in S&P 500 as Refiner Is Acquired
The Phoenix-based pet retailer will be added to the U.S. equity benchmark after the close of trading on Oct. 4, the statement said. Sunoco, the Philadephia-based oil refiner, is being acquired by Energy Transfer Partners LP on or about that date, S&P said.
Retailer Cabela’s Inc. (CAB) will replace PetSmart in the S&P Midcap 400 Index (MID), while biotechnology company Acorda Therapeutics Inc. (ACOR) will take Cabela’s place in the S&P Smallcap 600, S&P said.
PetSmart shares added 2.5 percent to $69.24 at 5:41 p.m. in New York.
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