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Noble Corp. (NYSE:NE) shares are getting a boost today after Standard & Poor’s announced late yesterday the company would be joining the S&P 500.
Noble, and oil and gas drilling services company, will replace networking solution firm QLogic (NASDAQ:QLGC) in the S&P 500 after the close of trading on Friday.
QLogic will replace CommScope (CTV) in the S&P MidCap 400, following CommScope’s acquisition by The Carlyle Group.
Standard & Poor’s said QLogic’s $1.8 billion market cap is more representative of the mid cap space.
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