MasterCard to join S&P 500
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- July
- 11
MasterCard Inc. will become part of the S&P 500, a large-company stock index that is widely followed by the investment community.
The Purchase-based company has consistently reported strong earnings as it benefited from consumers shifting payments to credit and debit cards from cash and checks. Gross dollar volume, a measure of charges on cards, has grown an average of 16.1 percent during the past three years.
At the end of trading Thursday, MasterCard will replace ACE Ltd. in the index. ACE, a Bermuda-based property and casualty insurer, is changing its place of incorporation to Switzerland, making it ineligible for the S&P’s U.S. indices. In another change, MasterCard will replace General Motors Corp. in the S&P 100 after the close of trading on Thursday. GM will remain a member of the S&P 500.
This entry was posted
on Friday, July 11th, 2008 at 1:09 pm by Jay Loomis.
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Category: Stocks
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