Reddit To Join S&P 500

WASHINGTON (dpa-AFX) - S&P Dow Jones Indices said that Reddit Inc. (RDDT) will replace AvalonBay Communities Inc. (AVB) in the S&P 500 on August 18.

S&P 500 constituent Equity Residential (EQR) will buy AvalonBay in a deal expected to be completed soon. Post transaction, the combined company will be renamed Vivmark Residential (VMRK) and will remain in the S&P 500.

Sun Communities Inc. (SUI) will replace Webster Financial Corporation (WBS) in the S&P MidCap 400 with effect from August 20. Banco Santander S.A. (SAN) will acquire Webster Financial in a deal expected to be completed soon.

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