FleetCor to Join S&P 500, Replacing Time Warner
June 15 2018 - 7:09PM
Dow Jones News
By Nishant Mohan
FleetCor Technologies Inc., a Georgia-based maker of fuel cards
and other workforce-payment technologies, is being added to the
S&P 500 index, replacing AT&T Inc.'s newest asset Time
Warner Inc.
FleetCor is slated to join the widely watched index June 20,
S&P Dow Jones Indices said Friday.
FleetCor's move to the S&P 500 also means mutual and
exchange-traded funds that track the index will have to add the
company's stock to their holdings. Shares in the company, which had
a market capitalization of $18.56 billion through Friday's close,
rose 4.4% to $216.29 in after-hours trading.
AT&T on Thursday closed its cash and stock purchase of Time
Warner, valued at about $81 billion, after U.S. District Judge
Richard Leon earlier in the week denied the Justice Department's
attempt to block the deal.
The latest index addition comes after social-media platform
Twitter Inc. joined the S&P 500 last week, replacing
agricultural firm Monsanto Co. To be eligible for inclusion on the
index, the sum of a company's most recent four consecutive quarters
should be positive as should be the most recent quarter.
Chipmaker Nvidia Corp. will replace Time Warner in the S&P
100.
Write to Nishant Mohan at nishant.mohan@wsj.com
(END) Dow Jones Newswires
June 15, 2018 18:54 ET (22:54 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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