Coal producer Consol Energy Inc. will replace newspaper publisher Knight Ridder Inc. in the Standard & Poor's 500 index because Knight Ridder is being acquired by McClatchy Co.
S&P made the announcement after the close of regular trading, in which Consol shares added 60 cents to $38.31. Shares surged to $40 in extended trading. Managers of mutual funds that mimic the S&P 500 are now likely to purchase its shares. The change will take place on a date to be announced, S&P said.