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First Republic Will Be Leaving the S&P 500. Here’s Who Might Be Going In.
First Republic Bank will be coming out of the as a result of its seizure by regulators, and that could provide an opening for the addition of Blackstone to the index. First Republic (ticker: FRC), whose stock has been halted, was seized by federal regulators and the bulk of its assets were sold to JPMorgan Chase (JPM). The new S&P 500 member could be Blackstone (BX), which, with a market value of $110 billion, is the largest company that isn’t now in the S&P 500.