S&P 500 Index Adding Ceridian, Brown & Brown and Match Group
S&P Dow Jones Indices said late Friday it will add three names to the S&P 500 index while dropping three others as part of its quarterly review of the its benchmark index.
The companies being added are: Ceridian HCM Holding (CDAY) – Get Ceridian HCM Holding, Inc. Report, Brown & Brown (BRO) – Get Brown & Brown, Inc. Report, and Match Group (MTCH) – Get Match Group, Inc. Report.
The companies being dropped are Unum Group (UNM) – Get Unum Group Report, NOV (NOV) – Get National Oilwell Varco, Inc. (NOV) Report and Perrigo Company (PRGO) – Get Perrigo Co. Plc Report.
S&P Dow Jones Indices said in a statement that “The changes will be effective prior to the open of trading on Monday, September 20, 2021 to coincide with the quarterly rebalance.”
Shares of the companies showed mostly modest reactions in after-hours trading. Ceridian and Brown & Brown edged up, NOV traded flat, while Unum and Perrigo edged lower. The only exception was Match Group. Its shares rose $14.09, or 9.7%, to $162.55 in after-hours trading.
U.S. stocks traded mixed Friday.
The Nasdaq Composite Index rose 32.34 points, or 0.2%, to 15,363.52, a closing high.
The S&P 500 index traded edged lower to 4,535.43.
The SPDR S&P 500 ETF (SPY) – Get SPDR S&P 500 ETF Trust Report traded flat at 453.08.
The major S&P 500 sub sectors were mixed.
The information technology sector index rose 10.7, or 0.38%, to 2796.12.
The utilities sector index fell 2.84, or 0.8%, to 351.39.
Among major market indicators, U.S. 10-Year treasury yields were flat at 1.32%.
West Texas intermediate oil traded flat at $65.65 a barrel.
Gold rose $17.31, or 1%, to $1,827.10 an ounce.
S&P Dow Jones Indices said the periodic rebalancing is designed to ensure that the index “is more representative of its market capitalization range.”
