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Teledyne Joins S&P 500 Index

Teledyne Technologies has joined the S&P 500 Index, according to S&P Dow Jones Indices in New York. The Thousand Oaks company, which makes aerospace, marine and digital imaging products, will become part of the S&P 500 stock index’s industrial sector. Its shares trade under the ticker symbol TDY. Teledyne and two other technology companies – Tyler Technologies Inc. and Bio-Rad Laboratories Inc. – replaced three companies on the S&P 500 – Harley-Davidson Inc., Nordstrom Inc. and Alliance Data Systems Corp. – all of which moved to the S&P MidCap 400 index. Another company from the Valley region, Cheesecake Factory Inc. in Calabasas, also joined the S&P Midcap 400. S&P Dow Jones said the changes to the index would be effective “prior to the open of trading on Monday, June 22.” Shares of Teledyne (TDY) closed Monday up $4.68, or nearly 1.5 percent, to $325.65 on the New York Stock Exchange. Shares of Cheesecake Factory (CAKE) closed down 38 cents, or 1.7 percent, to $22.54 on the Nasdaq.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.

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