Apple Joins S&P 100

From Reuters
Standard & Poor's on Wednesday said computer and iPod maker Apple Inc. will join its S&P 100 index of big blue-chip companies, and Precision Castparts, which makes engine parts and fasteners for aerospace companies, will join its flagship S&P 500 stock index.

Shares of companies joining the S&P 500 often rise because many portfolio managers try to track the index, and are required to buy stocks that enter it.

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