(Reuters) – Stocks of DoorDash, Williams-Sonoma, Expand Energy, and TKO Group surged in after-hours trading on Friday following the announcement of their inclusion in the S&P 500.
The four companies are set to be included in Wall Street’s most prominent stock index prior to the commencement of trading on Monday, March 24, as announced by S&P Dow Jones Indices in a press release.
DoorDash experienced a 7.5% increase, while Williams-Sonoma climbed 2.4%, Expand Energy rose by 1.5%, and TKO Group went up by 2.6%.
These new additions will replace Borgwarner Inc, Teleflex Inc, Celanese Corp, and FMC Corp.
Index funds that mirror the S&P 500 are among the most popular investment vehicles in the U.S. stock market, and as a result, those funds will need to acquire shares of the newly included companies to maintain alignment with the index’s make-up.
(Reporting by Noel Randewich; Editing by Chizu Nomiyama)
