Standard & Poor's adds O'Reilly Auto to S&P 500

Springfield-based O'Reilly Automotive Inc. will replace offshore drilling contractor Noble Corp. on the prestigious S&P 500 index, Standard & Poor's announced Wednesday.

Noble is in the process of redomesticating to Switzerland, making it ineligible for inclusion in the S&P 500. O'Reilly's move will take place on a to-be-determined date.

O'Reilly currently is in the S&P MidCap 400. Itron Inc. will replace O'Reilly there, and NBT Bancorp Inc. will replace Itron on in the S&P SmallCap 600.

Also moving to the S&P 500 is cable operator Time Warner Cable Inc., replacing mall owner Developers Diversified Realty Corp, after market close March 27.

O'Reilly stock (Nasdaq: ORLY) has been riding high lately and set two 52-week highs so far in March, even as the Dow Jones Industrial Average sank below 6500. Shares closed Wednesday at $35, compared to a 52-week range of $20 to $35.47.

Click the link below for SBJ's cover story this week about how the auto parts retailer is breaking benchmarks in a bear market.[[In-content Ad]]