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NEW YORK - Washington Mutual Inc. will be replaced by Flowserve Corp. in the benchmark S&P 500 Index after the close of trading Monday, Standard & Poor's said Friday.
Washington Mutual, which collapsed under the weight of its bad bets on the mortgage market, was seized by the Federal Deposit Insurance Corp. on Thursday. The FDIC then sold the Seattle-based thrift's banking assets to JPMorgan Chase & Co. for $1.9 billion.
Meanwhile, Flowserve, an Irving, Texas-based provider of fluid motion and control products and services, will be replaced in the S&P Midcap 400 by UGI Corp., which distributes and markets energy products.
King of Prussia, Pa.-based UGI will be replaced in the S&P SmallCap 600 by Taleo Corp., a Dublin, Calif.-based software firm after the close of trading Wednesday.
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Officials say German police carried out raids in three states searching for suspected supporters of a terror cell whose plans to attack U.S. targ...
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