Pursuits
Facebook Will Replace Teradyne in S&P 500 Index Next Week
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Facebook Inc. rose 5 percent following an announcement that it will join the benchmark Standard & Poor’s 500 Index next week, cementing the social-networking company’s recovery from the turbulence that surrounded its initial public offering last year.
The stock jumped to $51.83, a seven-week high, at the close in New York. Facebook will replace Teradyne Inc. in the S&P 500 at the close of trading on Dec. 20, S&P Dow Jones Indices said in a statement yesterday. The company will also join the S&P 100 Index in place of Williams Cos.