MW Apollo and Workday are joining the S&P 500. Their shares are rallying.
By Bill Peters
S&P Dow Jones Indices said the moves 'are more representative of the large-cap market space'
Shares of investment firm Apollo Global Management Inc. and workplace cloud-services platform Workday Inc. rallied after hours on Friday, after S&P Dow Jones Indices said the two companies would join the S&P 500 index later this month.
Shares of Apollo $(APO)$ gained roughly 6% in extended trading, while Workday (WDAY) shares jumped around 9%
The additions to the benchmark large-cap index SPX take hold before the start of trading on Dec. 23, with the two companies replacing Qorvo Inc. $(QRVO)$ and Amentum Holdings Inc. $(AMTM)$ on the S&P 500. In a statement, S&P Dow Jones Indices said the additions to the index "are more representative of the large-cap market space."
Qorvo's stock was down 1.6% after hours, while Amentum was giving up 2%.
-Bill Peters
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December 06, 2024 17:57 ET (22:57 GMT)
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