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PetSmart to replace Sunoco in benchmark S&P 500

PetSmart to replace Sunoco in benchmark S&P 500

October 2nd, 2012 in News

NEW YORK (AP) - Standard & Poor's said Monday specialty pet retailer PetSmart Inc. will join the benchmark S&P 500 index after the close of trade Thursday, replacing Sunoco Inc. which is being acquired by Energy Transfer Partners LP.

Cabela's Inc., a specialty retailer of hunting and fishing gear, will move from the SmallCap 600 to the MidCap 400, replacing PetSmart.

And Acorda Therapeutics Inc., a biopharmaceutical company, will join the SmallCap 600 Index, Standard & Poor's said, replacing Cabela's.

In after-hours trading, shares of Phoenix-based PetSmart shares added 2.9 percent, or $1.69, to $69.25. The stock fell $1.42 during regular trading. Shares are up 31 percent year-to-date.

Cabela's, based in Sidney, Neb., rose 30 cents to close at $54.98, while shares of Ardsley, N.Y.-based Acorda fell 6 cents to close at $25.55.