Ch-ch-ch-ch-changes (turn and face the strange)... never thought I would find myself quoting David Bowie on our blog, but it has happened. The reason for the quoting stems from the fact that Philip Morris International (PM.WI) is set to join the S&P 500 Index (SPX) once the closing bell sounds on Friday. The tobacco firm is being spun off from Altria
(MO:
sentiment,
chart,
options)
and it will take the place of electronics retailer Circuit City Stores
(CC:
sentiment,
chart,
options)
. In addition, real-estate investment trust HCP
(HCP:
sentiment,
chart,
options)
will replace Commerce Bancorp
(CBH:
sentiment,
chart,
options)
, which is being acquired by Toronto-Dominion Bank
(TD:
sentiment,
chart,
options)
.
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