Beauty retailer replaces Tenet on S&P 500

Beauty retailer Ulta Salon, Cosmetics & Fragrance will replace Dallas-based Tenet Healthcare on the S&P 500.

The move will take place after the close of trading April 15. At that time, Tenet will replace Jarden in the S&P MidCap 400.

"Tenet has a market capitalization that is more representative of the mid-cap market space," said S&P.

Tenet's market cap was $2.86 billion as of Friday. By comparison, Nashville, Tenn.-based HCA has a market cap of $31.2 billion. HCA replaced Safeway on the S&P 500 in January 2015.

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