Standard & Poor's Corp. said Friday that Wachovia Corp. will soon join the much-watched Standard & Poors 500 stock index.
The banking company, based in Winston-Salem. N.C.. will replace Quantum Chemical Corp.. which is expected to be acquired by Hanson PLC.
Wachovia is now in the S&P Midcap 400 index. It will be replaced there by Nextel Communications Inc., S&P said.