Conexant Systems to Join S&P; 500 Index
Staff and wire services
Conexant Systems Inc., the second-largest maker of semiconductors for communications equipment, will join the list of companies on Standard & Poor’s Corp.’s S&P; 500 Index, effective at the close of business Friday.
S&P; said in a press release Wednesday that the Newport Beach company will replace Consolidated Natural Gas Co. on the index. Consolidated is being acquired by Dominion Resources Inc., which already is a member of the S&P; 500.
As is its custom, S&P; announced the change after the close of regular trading. Conexant shares rose 19 cents to close at $74.31 a share during the day, but the price hit as high at $90 a share in after-hours Nasdaq trading.
