Dolby Labs jumps as S&P prepares to add it to its MidCap 400 index

Investing.com — Dolby Laboratories (NYSE:) surged in Friday trading after S&P Dow Jones Indices said it was adding the stock to its MidCap 400 index.

Dolby shares rose 10% as of midday. They are up 20% so far this year.

The audio technology company is replacing STAAR Surgical Company (NASDAQ:), S&P said. Staar’s stock was up 3.8%.

At the same time, Staar Surgical will replace Urstadt Biddle Properties (NYSE:) in the S&P SmallCap 600 index, all effective prior to the opening of trading on Aug. 22.

S&P said Regency Centers (NASDAQ:) will acquire Urstadt Biddle Properties in a transaction expected to close soon. “Staar Surgical is more representative of the small-cap market space,” the index company said.