Foot Locker Reports Profits

Shares of Foot Locker Inc. rose more than 5 percent last week following news that the No. 1 U.S. athletic shoe retailer was being added to the Standard & Poor's MidCap 400 Index.

A company's shares usually react positively after they are added to a major S&P index, as most index fund managers are obliged to buy the stock under their portfolio selection guidelines.

The chain of about 3,900 retail stores in the United States and overseas has posted consistently higher earnings and revenue in the past four quarters.