US: Dr Pepper Snapple listed on S&P 500
Soft drinks group Dr Pepper Snapple will be listed on the respected Standard & Poor's 500 index, in place of chewing gum giant Wrigley.
Dr Pepper Snapple (DPS), a former division of Cadbury Schweppes, will take its place on the index from the start of next week, following news that Wrigley is to be bought out by Mars.
The S&P 500, while not necessarily a guide for sound investment, is generally considered the most prestigious index in the US, after the Dow Jones International Average.
Shares on the S&P 500 plunged yesterday (29 September) upon news that US Congress had rejected a US$700bn bailout for financial markets. Dow Jones suffered one of its largest one-day losses in history.
DPS re-confirmed its full-year earnings per share guidance of at least US$1.65 at an analysts' conference this month.
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