Akamai Added to S&P 500 update from July 2007

Akamai Technologies (AKAM) will be added to the S&P 500 at the close of business Wednesday.

Rich Miller

July 10, 2007

1 Min Read
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Standard & Poor's said Monday that Akamai Technologies Inc. (AKAM), which provides technology for online content streaming, will replace medical device maker Biomet Inc. in the S&P 500 after the close of trading on Wednesday. Biomet is being acquired and taken private bv a private equity consortium.

In aftermarket trading, shares of Akamai added $2.04, or 4.3 percent, to $49.57. Shares of companies added to the S&P 500 typically see a short-term benefit to their share price, as their inclusion triggers share purchases by index funds that seek to replicate the movements of leading indices like the S&P 500.

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