Teledyne Joins S&P 500 Index

Teledyne Technologies has joined the S&P 500 Index, according to S&P Dow Jones Indices in New York. The Thousand Oaks company, which makes aerospace, marine and digital imaging products, will become part of the S&P 500 stock index’s industrial sector. Its shares trade under the ticker symbol TDY. Teledyne and two other technology companies – Tyler Technologies Inc. and Bio-Rad Laboratories Inc. – replaced three companies on the S&P 500 – Harley-Davidson Inc., Nordstrom Inc. and Alliance Data Systems Corp. – all of which moved to the S&P MidCap 400 index. Another company from the Valley region, Cheesecake Factory Inc. in Calabasas, also joined the S&P Midcap 400. S&P Dow Jones said the changes to the index would be effective “prior to the open of trading on Monday, June 22.” Shares of Teledyne (TDY) closed Monday up $4.68, or nearly 1.5 percent, to $325.65 on the New York Stock Exchange. Shares of Cheesecake Factory (CAKE) closed down 38 cents, or 1.7 percent, to $22.54 on the Nasdaq.