Uber Joins the S&P 500. Here’s Which Other Stocks Did—and Which Ones Were Removed.
Uber Technologies, Jabil, and Builders FirstSource will join the S&P 500 index SPX prior to the opening of trading on Dec. 18, according to S&P Dow Jones Indices, which oversees the index. The announcement was made after the close of trading Friday.
The three companies will replace Sealed Air, Alaska Air Group, and Solaredge Technologies.
The Uber addition isn’t a surprise because the ride-share company is the largest company ranked by market capitalization that wasn’t in the S&P 500. Uber’s market value is about $116 billion.
Uber stock gained 1.7% to $57.35 in regular trading Friday and has added 4.6% to $59.99 in after-hours trading.
Uber qualified for inclusion in the S&P after its third-quarter earnings report showed profitability based on GAAP accounting over the prior four quarters.
Jabil is up 3.1% to $120.60 and Builders FirstSource is up 2.3% to $142.41 in after-hours trading.
The additions of the three companies will coincide with the index’s quarterly rebalancing. S&P Dow Jones Indices often makes changes to the S&P 500 and other key indexes around the time of the quarterly rebalances.
