Monty Rakusen
Dell Technologies (NYSE:DELL) and Palantir Technologies (NYSE:PLTR) will join the S&P 500 Index (SP500) later this month, and the pending moves sent shares in each company surging late Friday.
Dell will replace e-commerce site Etsy (NASDAQ:ETSY) in the U.S. equity market benchmark, and Palantir will replace American Airlines Group (NASDAQ:AAL), S&P Dow Jones Indices said in a statement about quarterly rebalancing.
Shares of Dell (DELL) climbed 6.9% in after-hours trade, and stock in enterprise software company Palantir (PLTR) gained 7%.
The index changes will take effect before trading opens on Monday, Sept. 23, to coincide with a quarterly rebalance.
Shares of Etsy (ETSY) fell 1.1% late Friday, and American Airlines (AAL) lost 0.6%.
Etsy (ETSY) will replace Haverty Furniture Cos. (HVT) in the S&P SmallCap 600 (SP600). American Airlines (AAL) will replace broadcaster Tegna (TGNA) in the S&P MidCap 400 (SP400).
Exchange-traded funds that track the S&P 500 include: (SPY), (VOO), (IVV), (RSP), (SSO), (UPRO), (SH), (SDS), and (SPXU).
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