American Airlines to join the S&P 500, replaces Allergan

MarketsAssociated Press

S&P Dow Jones Indices says that American Airlines Group will soon be joining the S&P 500 index.

The Fort Worth, Texas, holding company for American Airlines and US Airways will be added to the index after the close of trading on Friday.

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American Airlines is replacing health care company Allergan, which is being acquired by Actavis in a deal expected to close Tuesday.

Shares of American are up about 38 percent in the past year and added $1.83, or 3.6 percent, to $52.05 in extended trading.