Coty Inc. shares jumped in the extended session Tuesday after S&P Dow Jones Indices said the beauty-products maker will replace Diamond Offshore Drilling Inc. on the S&P 500 index . Coty shares rose 4.7% to $24.56 after hours. “Diamond Offshore Drilling is ranked at the bottom of the S&P 500 and has a market capitalization more representative of the mid-cap market space,” S&P said of the index change, which will occur after markets close on Friday. Diamond Offshore shares declined 0.7% to $15.90 after hours.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News