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S&P 500 friends Facebook in major boost for giant social network
S&P 500 friends Facebook in major boost for giant social network

SAN FRANCISCO -- In a dramatic rebound from its bungled initial public offering last year, Facebook Inc. will join the Standard & Poor’s 500 Index next week, capping its fitful rise to one of the nation's most powerful technology companies. Facebook will replace Teradyne in the S&P 500 at the close of trading Dec. 20, S&P Dow Jones Indices said Wednesday. It will also join the S&P 100 Index, replacing Williams Cos. Being friended by the index is a vote of confidence in the giant social network and means Facebook can now count on a solid base of shareholders from funds that follow the indexes. It's also likely to boost Facebook shares, which have already...

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