'Uber Technologies, Jabil, And Builders FirstSource Will Join The S&P 500 Index Prior To The Opening Of Trading On Dec. 18' - Barron's
Portfolio Pulse from Benzinga Newsdesk
Uber Technologies, Jabil, and Builders FirstSource are set to join the S&P 500 index on Dec. 18, replacing Sealed Air, Alaska Air Group, and Solaredge Technologies. This change coincides with the index's quarterly rebalancing. Uber's inclusion follows its profitability in the last four quarters, with its stock rising 1.7% in regular trading and 4.6% after-hours. Jabil and Builders FirstSource also saw after-hours trading gains of 3.1% and 2.3%, respectively.
December 01, 2023 | 10:49 pm
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POSITIVE IMPACT
Builders FirstSource will join the S&P 500 index, with its stock price rising by 2.3% in after-hours trading following the news.
Builders FirstSource's entry into the S&P 500 could attract more institutional investors and increase demand for the stock. The after-hours price increase suggests a positive market reaction in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Jabil will join the S&P 500 index, with its stock price increasing by 3.1% in after-hours trading post-announcement.
Jabil's addition to the S&P 500 is likely to increase investor interest and could lead to more institutional buying, as funds tracking the index adjust their portfolios. The after-hours stock price increase indicates a positive short-term impact.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Uber Technologies will join the S&P 500 index, with its stock rising 1.7% in regular trading and 4.6% after-hours following the announcement.
Uber's inclusion in the S&P 500 is a significant milestone, reflecting its market cap and recent profitability. The stock's positive reaction in after-hours trading suggests a short-term bullish sentiment among investors.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100