S&P Dow Jones Indices announced late Thursday it was booting Nektar Therapeutics NKTR, +4.69% from the S&P 500 index SPX, -0.20%. Nektar was the worst performing stock on the benchmark index in the past 12 months, dropping more than 70%. Nektar’s earnings per share fell 112% in the second quarter, the third worst performance among companies included in the S&P 500. Nektar is set to be replaced by Las Vegas Sands Corp. LVS, -1.47%, which gained more than 5% in the extended session Thursday. The change will take effect Oct. 3. Nektar stock was up 1.9% in after-hours trading Thursday and will move to the S&P MidCap 400. This is the third announced change to the S&P 500 in the past two weeks. Previously, S&P Dow Jones Indices announced that NVR Inc.NVR, +4.88% and CDW Corp. CDW, +0.44% would join the benchmark S&P 500.
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