Shares of Dolby Laboratories Inc. DLB, +0.96% were up 4.8% after hours on Thursday after S&P Dow Jones Indices said the audio-tech company would replace Staar Surgical Co. STAA, +0.17% in the S&P MidCap 400. Staar Surgical will replace Urstadt Biddle Properties Inc. UBA, -1.81% in the S&P SmallCap 600. The moves take hold before the opening of trading on Aug. 22. “S&P 500 constituent Regency Centers Corp. REG, -1.80% will acquire Urstadt Biddle Properties in a transaction expected to close soon pending final closing conditions. Staar Surgical is more representative of the small-cap market space,” S&P Dow Jones Indices said in a statement.
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