X Software giant Synopsys (SNPS) will be added to the S&P 500 Index before the market opens on Thursday, S&P Dow Jones Indices said today. It replaces Harman International (HAR), a company bought by Samsung on Friday that makes car audio systems and connected-car technology.
The swap-out comes after S&P Dow Jones Indices on Friday said that Advanced Micro Devices (AMD), whose chips and graphics processors lifted its stock last year, investment firm Raymond James Financial (RJF) and real estate investment trust Alexandria Real Estate Equities (ARE) would be added to the S&P 500 on March 20.
The decision to add those stocks was the result of higher minimum market-cap guidelines for the index that took hold Friday. The new guidelines call for a market cap of at least $6.1 billion, up from $5.3 billion.
Those guidelines were raised following a 5.5% rise in the index year to date and a 19% jump over the past 12 months, and were intended to reflect the index's market-cap range, S&P Dow Jones Indices said Friday.
The addition of AMD, Raymond James and Alexandria Real Estate came at the expense of apparel retailer Urban Outfitters (URBN), communications outfit Frontier Communications (FTR) and solar-energy company First Solar (FSLR), which will all be removed from the S&P 500 on March 20.
Shares of Synopsys, which has a Composite Rating of 97, were up 0.4% in late trading on the stock market today, after closing 0.4% higher at 72.09. The stock cleared a flat base in January and is up 56% over the past 12 months.
AMD, meanwhile, finished up 2.7%. Urban Outfitters, which like many retailers has struggled with the rise of online shopping, fell 3.8%. Frontier fell 1.4% and First Solar rose 1.3%.
RELATED:
Why The Charts Look Good For These Two Big Caps
These 3 Defense Stocks Are Near Buy Points Ahead Of Trump Budget
