Keurig Dr Pepper, ON Semiconductor, Vici Shares Pop on S&P 500 Addition

By Will Feuer

Shares of Keurig Dr Pepper Inc., ON Semiconductor Corp. and VICI Properties Inc. all rose at least 6% in after-hours trading Friday after S&P Global Inc. said the three companies will be added to the S&P 500 index.

The addition of a stock to a major index can increase the stock's exposure to everyday investors, like those investing for retirement, who typically put money in broad indexes as opposed to individual stocks.

VICI, a real-estate investment trust focused on gaming, hospitality and entertainment destinations, will replace Cerner Corp. in the S&P 500 prior to the open of trading on June 8. Cerner has agreed to be bought by Oracle Corp.

VICI stock rose almost 7% to $33.55 a share in after-hours.

Keurig Dr Pepper and ON Semiconductor will replace Under Armour Inc. and IPG Photonics Corp. in the S&P 500 prior to the open of trading on June 21. Shares of Keurig Dr Pepper and ON Semiconductor both rose more than 6% to $37.10 a share and $66.85 a share, respectively.

Under Armour and IPG Photonics will replace Trinity Industries Inc. and Yelp Inc. in the S&P MidCap 400. Trinity Industries and Yelp will replace Endo International PLC and Red Robin Gourmet Burgers Inc. in the S&P SmallCap 600.

Additionally, Sotera Health Co. and Shockwave Medical Inc. will replace Urban Outfitters Inc. and LiveRamp Holdings Inc. in the S&P MidCap 400. Shares of Shockwave Medical jumped more than 9% to $177.00 a share in after-hours trading.

Urban Outfitters and LiveRamp Holdings will replace Tactile Systems Technology Inc. and Vera Bradley Inc. in the S&P SmallCap 600. Ironwood Pharmaceuticals Inc. will also replace Greenhill & Co. Inc. in the S&P SmallCap 600.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

June 03, 2022 18:22 ET (22:22 GMT)

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