BUZZ-Marvell, Flex climb on inclusion into benchmark S&P 500 index
Flex FLEX | 0.00 | |
Pool POOL | 0.00 | |
Marvell Technology MRVL | 0.00 | |
S&P 500 index SPX | 0.00 |
** Shares of chipmaker Marvell Technology MRVL.O and electronics manufacturer Flex FLEX.O up 7.7% and 3.9%, respectively, in premarket trading
** Companies will join the benchmark S&P 500 index .SPX on June 22, the index provider said on Friday
** Securing a spot in the S&P 500 typically triggers a wave of buying from funds tracking the index
** The new entrants will replace pool supplies company Pool Corp POOL.O and packaged food maker Campbell's Co CPB.O
** YTD as of Friday, MRVL has jumped more than three-fold, while FLEX gained 151%
** Nvidia's NVDA.O CEO Jensen Huang called MRVL the next "trillion-dollar company" last week