According to a Associated Press report, retailer GameStop will be joining Standard and Poor's S&P 500 index at a yet unspecified date, taking Wall Street Journal publisher Dow Jones' slot.
The index is a list of 500 primarily American stocks which is watched globally as, says Standard and Poor, "the best single gauge of the U.S. equities market."
AP notes that Dow Jones is slated to be purchased by Rupert Murdoch's News Corp, but the deal has to date not been fully completed.
It also says that taking GameStop's former S&P MidCap 400 index slot will be airplane parts manufacturer BE Aerospace Inc.
GameStop
recently reported record third quarter results with sales up 59.3 percent to a staggering $1.6 billion and profits up 283 percent to $52 million, thanks to the performance of
Halo, Madden, Bioshock, Wii Play and
Guitar Hero.
