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Discovery to join S&P 500, Bally joins MidCap 400

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[February 17, 2010]  NEW YORK (AP) -- Standard & Poor's said Tuesday it is replacing two companies listed on its indices after they were acquired by PepsiCo Inc.

InsuranceS&P said it will remove Pepsi Bottling Group Inc. from the S&P 500 index and replace it with Discovery Communications Inc., a media company that owns Discovery Channel and TLC, among other properties.

S&P is removing PepsiAmericas Inc. from the S&P MidCap 400 and replacing it with Bally Technologies Inc., a Las Vegas-based manufacturer and operator of slot machines and video machines for the gaming industry.

PepsiCo is acquiring the companies -- two of its bottlers -- in separate deals expected to be completed soon. PepsiCo launched its takeover efforts last April.

The changes to S&P's indices will take effect on a date to be announced.

Shares of Discovery Communications added $1.62, or 5.6 percent, to $30.56 in aftermarket activity. They earlier rose 25 cents to end regular trading at $28.94. The stock has traded in a 52-week range of $12.46 to $33.02.

Bally Technologies rose 62 cents to close at $40.21.

[Associated Press]

Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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