American Airlines will land in the S & P 500 index, starting Friday. Shares gained overnight on news it would replace Allergan, which will be acquired soon. American is the parent of both American Airlines and US Airways. CEO Dough Parker told shareholders in January, that if it were in the index last year, it would have been the second best performing stock in the S & P 500. American shares gained 113% in 2014. JP Morgan Analyst Jamie Baker said the addition of American to the widely watched index means there is immedIate demand for about 79 million shares of its stock. Southwest and Delta are already in the index.
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