Arista Networks Inc. (ANET) will join the S&P 500 ahead of trading on Aug. 28, S&P Dow Jones Indices said Thursday, with the cloud-networking company replacing GGP Inc. (GGP) in the benchmark index.
Arista is taking GGPs place because Brookfield Property Partners LP (BPY) is expected to complete its acquisition of GGP, which owns and operates malls, soon. The change means mutual and exchange-traded funds that track the S&P 500 will add Arista to their holdings.
Shares of Arista rose 4%, to $293.94, in after-hours trading.
Meanwhile, Ichor Holdings Ltd. (ICHR), which designs, engineers and manufactures fluid-delivery subsystems and components, will replace information-technology company Super Micro Computer Inc. (SMCI) in the S&P SmallCap 600.
Dow Jones Newswires
August 23, 2018 19:15 ET (23:15 GMT)
